Features of finance of commercial organizations and factors that determine them

The primary distribution of the value of gross domestic product (GDP) occurs in the sphere of finance of business entities and primarily with the help of finance of commercial organizations, i.e. this element can be considered as the initial one for the entire financial system.

Article 34 of the Constitution Russian Federation the right of citizens to use their abilities and property to carry out business and other economic activities is guaranteed.
Entrepreneurial activity is recognized as independent activity carried out at one's own risk, aimed at systematic obtaining profits from the use of property, from the sale of goods, performance of work or provision of services (Article 2 of the Civil Code of the Russian Federation) Entrepreneurial activities can be carried out by legal entities, as well as individuals without forming a legal entity.

In conjunction with civil legislation (Article 50 of the Civil Code of the Russian Federation), the main purpose of creating and operating a commercial organization as a legal entity will be to generate profit, which determines the content of its financial relations with other entities. Commercial organizations enter into a variety of financial relationships:

• with other organizations and individuals: regarding the attraction and receipt of sources of financial resources (raising funds on an equity and debt basis, receiving insurance compensation and other income through redistribution: interest, dividends, amounts of financial sanctions for violation of contractual obligations, etc. .); regarding the use of financial resources (allocation of financial resources into various assets; distribution of profits between owners; use of financial resources for charitable and other social purposes);
• with the state and municipalities: regarding the fulfillment of obligations by a commercial organization to budgets of various levels and state extra-budgetary funds (tax and non-tax payments), as well as the receipt of budget funds by a commercial organization within the framework of state financial support;
• with employees of the organization regarding payments made from profits (bonuses, loans for the purchase of housing, durable goods, etc.)

Finance of commercial organizations- ϶ᴛᴏ a system of relations associated with the formation and use of financial resources of commercial organizations in order to ensure their activities and resolve issues of a social nature.

The following principles of organizing finance in the field of commercial activity can be distinguished:

1. obtaining and maximizing enterprise profits;
2. optimization of sources of financial resources;
3. ensuring the financial stability of commercial organizations, incl. use of various mechanisms to protect against business risks (insurance, hedging, creation of financial reserves);
4. creating investment attractiveness;
5. responsibility for the management and results of financial economic activity. The material was published on http://site

These principles are determined by the main goal of a commercial organization - making a profit, as well as the desire of any business entity not only to maintain, but also to expand its participation in the market.

Commercial organizations operate in different areas: material production, trade and sales activities, provision of services, incl. informational and financial. Let us note the fact that in modern conditions In order to reduce business risks, organizations diversify the areas of their activities; as part of integration processes, inter-industry mergers occur, but the influence of the industry factor on the finances of commercial organizations in the Russian Federation remains. This is due to the fact that, according to Russian legislation, certain types of commercial activities are prohibited from being combined with other types of activities: for example, insurance companies cannot provide banking services, carry out production and trading operations, etc.; in some cases, specializing in one type of activity can give the greatest effect.

Industry factors influencing the peculiarities of financial organization will be the seasonality of production, the duration of the production cycle, and the characteristics of turnover production assets, degree of risk entrepreneurial activity etc. For example, for Agriculture(especially crop production) is characterized by the influence of natural and climatic factors on the production process, which determines its seasonal nature and the high need for insurance protection. In these conditions, the attraction of borrowed funds for the formation of financial resources, the creation of reserve funds and insurance play an important role. It is worth saying that construction, as well as certain industries with a long production cycle (for example, shipbuilding), is characterized by the presence of large volumes of work in progress, which also determines the need to generate financial resources through borrowed funds.

Natural and climatic factors can predetermine the receipt of rental income in relatively favorable business conditions (extractive industries). As a rule, in these conditions in many countries, income equalization within one industry is carried out on the basis of rental payments to the budget.

Industries with a relatively low level of profitability (agriculture, housing and communal services) have limited opportunities to expand sources of financial resources, incl. through the issue of securities.

For industries with a high degree of professional risk for workers (coal, chemical, gas industry etc.) higher tariffs are provided for social insurance against industrial accidents and occupational diseases.

Finally, a high degree of risk is inherent in the activities of financial intermediaries (insurance companies, credit institutions), which determines more high requirements to the amount of equity capital, the creation of specific financial reserves and the use of other mechanisms to ensure financial stability (for example, for insurance companies - reinsurance)

Industry factors also determine the size of a commercial organization. Thus, the steel industry, mechanical engineering and other branches of heavy industry usually involve large-scale enterprises, and trade, consumer services, and innovation activities are traditionally carried out through medium and small businesses. Based on all of the above, we come to the conclusion that industry characteristics can predetermine the organizational and legal form of a commercial organization, and, in turn, is another factor influencing the financial mechanism of the organization.

The organizational and legal form of a legal entity is established by the Civil Code of the Russian Federation (Chapter 4 Financial planning and forecasting) Based on Art. 50 of the Civil Code of the Russian Federation, legal entities that are commercial organizations can be created in the form of business partnerships and societies, production cooperatives, state and municipal unitary enterprises. Various organizational and legal forms determine the features of the formation of financial resources at the time of creation of the organization, distribution of profits, financial responsibility of founders and participants.

Thus, financial resources at the time of creation of joint-stock companies are formed from funds received from the placement of shares; partnerships and cooperatives - from the placement of shares; unitary enterprises - at the expense of budget funds. It is worth saying that business companies have the opportunity to attract financial resources by placing debt securities.

The organizational and legal form influences the features of profit distribution: in joint stock companies, part of the profit is distributed in the form of dividends among shareholders; the profit of unitary enterprises can go to the budget not only in the form of tax, but also non-tax payments (unless the owner makes a different decision); in production cooperatives, part of the business income (profit) is distributed among the members. All commercial organizations traditionally form reserves through deductions from profits, but for joint-stock companies the minimum amount of reserves is legally established (at least 15% of the authorized capital), the amount of contributions to the reserve fund (at least 5% of net profit) and the direction of its use (covering losses, repaying company bonds and repurchasing shares in the absence of other sources) Production cooperatives allocate a part of business income to an indivisible fund.

In general, the finances of commercial organizations as a link in the financial system, regardless of organizational, legal and industry characteristics, have the following features:

• financial resources are owned by commercial organizations (with the exception of unitary enterprises);
• financial management of a commercial organization is focused on achieving its main goal - making a profit;
• limited government regulation of the finances of commercial organizations compared to other parts of the financial system. State regulation of the formation and use of financial resources of commercial organizations is associated with the determination of tax obligations, as well as obligations arising from the possible use of budget funds (subsidies, subventions, state and municipal orders, budget investments, budget loans)

Sources and types of financial resources of commercial organizations

Financial resources of a commercial organization are the totality of cash income, receipts and savings of a commercial organization used to support its activities, develop the organization or maintain its place in the market, as well as to solve certain social problems.

Sources of financial resources when creating a commercial organization. At the time of creation of a commercial organization, the following is formed: authorized capital (share capital - for partnerships, mutual fund - for production cooperatives, authorized capital - for a unitary enterprise) through contributions from the founders. The authorized (share) capitals of partnerships and limited liability companies are divided into shares, the authorized capitals of joint-stock companies - into shares; However, they are formed through contributions from founders and participants for the acquisition of these shares and shares. The authorized capital can be paid in cash and other property. Certain types of activities provide for legal regulation of the share of the authorized capital in monetary form (for example, banking activity) The mutual fund of a production cooperative is formed from shares of participants, which can also be in monetary and non-monetary form. The authorized capital of a unitary enterprise is formed through capital expenditures of the budget at the current level, as well as the direct transfer of buildings, structures, equipment, and land plots. Under this Russian legislation, joint participation of the Russian Federation, a constituent entity of the Russian Federation, or a municipality in the creation of one enterprise is prohibited. It is the monetary part of payment for the authorized capital (share capital, authorized or share fund) that is considered as sources of financial resources at the time of creation of the organization.

Sources of financial resources in the process of functioning of a commercial organization.

1. The main source of formation of financial resources of a commercial organization will be revenue from the sale of goods (works, services) related to the statutory activities of the organization. Increasing revenue from product sales is one of the main conditions for the growth of financial resources of commercial organizations. Such an increase can be determined by an increase in the production and sales of goods (works, services), as well as an increase in prices and tariffs. In conditions of competition and elastic demand, traditionally the relationship between these two factors is inversely proportional: raising prices can lead to a reduction in sales volume, and vice versa. It is worth saying that in order to maximize profits, a commercial organization is forced to look for the optimal relationship between price and production volume. The structure of sales revenue is determined by labor productivity, labor and capital intensity of production, availability modern technologies allowing economical use of various types of resources.

2. The activities of a commercial organization are also related to the sale of property, when morally (sometimes physically) obsolete equipment and other property are sold at residual value, and stocks of raw materials and supplies are sold. The share of this source in the total amount of sources of financial resources of a commercial organization depends on many factors: the type of activity of the organization (for example, high-tech, knowledge-intensive production requires constant updating of equipment), the specific situation (the organization can sell part of the property to pay off accounts payable) Today, in conditions of constant improvement information technologies Almost all organizations are updating computer equipment And software to it, selling the retiring property.

3. In the course of its activities, a commercial organization receives not only revenue from sales, but also non-operating income. Such income includes: receipts related to the provision for temporary use of funds and other property for a fee (including interest on loans provided by the organization, interest on bank deposits, etc.); proceeds related to participation in the authorized capitals of other organizations (including interest and other income on securities); profit received as a result of joint activities under a simple partnership agreement; fines, penalties, penalties for violation of contract terms; proceeds to compensate for losses caused to the organization (including insurance compensation); profit of previous years identified in the reporting year; amounts of accounts payable and depositors for which the statute of limitations has expired; exchange rate differences on transactions in foreign currency; the amount of revaluation of assets.

Non-operating income of different organizations does not match in composition. For example, if in the charter of one organization the leasing of property is recognized as a statutory activity, then the resulting rent receipts will be taken into account as sales revenue. If rental activities are not provided for in the organization’s charter, then the receipt of rent is classified as non-operating income.

Factors influencing the share of non-operating income in the sources of financial resources of a commercial organization will be the degree of differentiation of its assets, the profitability of investments in these assets, the degree of reliability of economic relations with suppliers and customers, etc. In conditions of frequent violation of obligations by transaction partners, the organization can receive significant amounts fines, penalties, penalties provided for in these agreements. It is worth saying that the completeness of receipt of financial sanctions also depends on the qualifications of the organization’s legal service in the preparation of final contracts, as well as, if necessary, during legal proceedings.

4. Let us note the fact that in modern conditions, part of the financial resources of a commercial organization is attracted through its participation in the financial market as a borrower and issuer. It is important to note that one of the most important values ​​of the financial market is expanding the capabilities of business entities in choosing sources of financial resources.

An operating commercial organization (joint stock company) can raise funds on the financial market through additional issue of shares. Recently, among the largest Russian issuers (Gazprom, Gazinvest, Sibneft, MTS, Wimm-Bill-Dann, Alfabank, Sberbank, etc.), the practice of raising funds on a debt basis has become widespread - by issuing bonds (so-called “corporate bonds”). or long-term bills. In this regard, it should be borne in mind that the additional issue and issuance of debt securities are aimed not only at national, but also at foreign investors (many of the above-mentioned issuers issue securities denominated in foreign currencies, which are quoted on the world's largest stock exchanges)

The high loan interest rate and strict collateral requirements make bank loans inaccessible to many commercial organizations as a source of financial resources.
It is worth noting that the situation is especially difficult for small and medium-sized enterprises. Today, several programs are in place (including within the framework of a loan from the European Bank for Reconstruction and Development) to ensure the availability of bank loans for small and medium-sized businesses. It is important to note that, however, with all this, the source of formation of financial resources is insignificant in volume for small and medium-sized enterprises.

Raising funds on the financial market of a commercial organization is traditionally associated with the implementation of its large investment projects, incl. with the expansion of the organization's activities.

The significance of the sources of financial resources of a commercial organization related to the functioning of the financial market is determined by the investment attractiveness of this organization, its organizational and legal form (raising funds from all segments of the financial market is possible only by a joint-stock company), and the level of profitability in the financial market. Commercial organizations also take into account that with the growth of borrowed sources of financial resources, the risk of insolvency and, consequently, loss of financial stability increases.

5. Funds from budgets go to commercial organizations as part of state support for their activities (see Chapter 5 of the textbook Financial regulation of socio-economic processes) In the conditions of market transformations, the share of budget funds in the sources of financial resources of enterprises has decreased significantly. It is important to note that, however, with all this, commercial organizations can receive budget funds in the form of subventions and subsidies, investments, budget loans from budgets of different levels. The provision of budget funds to commercial organizations is strictly targeted and traditionally carried out on a competitive basis. Sometimes budget funds are difficult to allocate from other sources of financial resources of a commercial organization. Thus, budget funds received in the form of payment for a state or municipal order are reflected as sales revenue.

6. Financial resources can be generated from proceeds from the main (“parent”) companies, the founder (founders). In the process of functioning of a commercial organization, it may receive funds from the founder (founders), for example, when making a decision to increase the authorized capital. In holdings and financial and industrial groups, the redistribution of funds is usually systematic and complex: from the parent company to other participants, and vice versa, as well as between participants. The functioning of inter-industry and intra-industry R&D funds is also based on the redistribution of funds between organizations participating in the creation of such funds.

The structure of all sources of formation of financial resources of commercial organizations in the Russian Federation is shown in Fig. 7.1. These diagrams indicate that, with a wide variety of such sources, the largest share is occupied by revenue from sales of products (works and services)

Due to the listed sources, the following forms and types of financial resources of a commercial organization are formed: cash income; cash savings; cash receipts.

1. Cash income commercial organization - ϶ᴛᴏ:

• profit from the sale of goods (works, services);
• profit from the sale of property, the balance of non-operating income and expenses.

Figure No. 7.1. Structure of sources of formation of financial resources of commercial organizations

Profit from the sale of goods (works, services) is defined as the difference between the proceeds from sales (reduced by the amount of value added tax, excise taxes and other similar taxes) and the costs of producing goods (works or services). Let us note the fact that in modern financial statements distinguish between gross profit (revenue from sales “minus” costs without management and commercial expenses) and profit (loss) from sales (including management expenses):

1. Sales proceeds (minus VAT, excise taxes and other similar payments)
2. Cost of goods (works or services) sold (excluding administrative and commercial expenses)
3. Don't forget that gross profit (page 1 - page 2)
4. Administrative and commercial expenses
5. Profit (loss) from sales (page 3 - page 4)

Profit from the sale of property is defined as the difference between the proceeds from the sale of property and the costs associated with such sale.

Finally, the balance (profit or loss) on non-operating transactions is defined as the income received from such transactions, reduced by the costs associated with their implementation.

Profit will be the most important indicator of the financial and economic activity of the organization; analysis of its absolute value, dynamics, relationship with costs or sales revenue is used to assess the financial condition of the organization, incl. when making decisions about investments, bank loans.

2. Cash savings as a form of financial resources, they are represented by depreciation, reserve and other funds formed from the profits of previous years.

As is known, the cost of fixed assets and other depreciable property is transferred to the cost of newly created products (goods, services) gradually, accumulating for their further reproduction. This process is accompanied by regular depreciation charges. There are several ways to calculate depreciation. It is worth saying for accounting methods such as:

• linear;
• reducing the balance;
• write-off of cost based on the sum of numbers of years of useful life;
• write-off of cost in proportion to the volume of work (services) produced

For tax purposes, depreciable property is combined into ten groups depending on the useful life (Article 258 of the Tax Code of the Russian Federation). For buildings, structures, transmission devices, the useful life of which is 20 years and above, the linear method of calculating depreciation is applied. For other fixed assets, for tax purposes, a commercial organization has the right to choose the depreciation method between linear and non-linear. In relation to individual items of depreciable property, correction factors (2-3) may be applied (Article 259 of the Tax Code of the Russian Federation)

Based on all of the above, we come to the conclusion that the share of cash savings associated with depreciation in the composition of financial resources is determined by the cost and type of depreciable property, the time of its operation, and the chosen methods of calculating depreciation.

The relationship between profit (as the total profit from the sale of goods (work, services), profit from the sale of property and the balance of non-operating income and expenses) and depreciation as the main types of financial resources of a commercial organization is clearly shown in Fig. 7.2.

Figure No. 7.2. Structure of the main types of financial resources of commercial organizations

Due to deductions from profits, a commercial organization can form reserve funds: to pay off debt obligations, to compensate for damage that occurred as a result of unforeseen events (see Chapter 3 of the textbook Financial Management) Note that the term “fund” in this case is conditional name, since accumulation usually does not occur in a separate bank account, but by maintaining or increasing the non-declining balance of funds in the main account (or main accounts) of the organization.

3. Cash receipts act in the form of budget funds; funds raised on the financial market; funds received through redistribution from the main (“parent”) company, from a higher organization, due to intra- and inter-industry redistribution.

Directions for using financial resources

Since the main task of a commercial organization will be to maximize profit, the problem of choosing the direction of using financial resources constantly arises: investments to expand the main activities of a commercial organization or investments in other assets. As is known, economic importance profit is associated with obtaining results from investments in the most profitable assets.

The following main directions for using the financial resources of a commercial organization can be identified:

• Capital investments.
• Expansion of working capital.
• Carrying out research and development work (R&D)
• Paying taxes.
• Placement in securities of other issuers, bank deposits and other assets.
• Distribution of profits between the owners of the organization.
• Stimulating employees of the organization and supporting their family members.
• Charitable purposes.

If the strategy of a commercial organization is related to maintaining and expanding its position in the market, then capital investments are required (investments in fixed assets (capital)). Capital investments are one of the most important areas for using the financial resources of a commercial organization. In Russian conditions, it is very important to increase the volume of capital investments due to the need to update equipment, introduce resource-saving technologies and other innovations, since the percentage of not only moral, but also physical wear and tear of equipment is very high.

The unfavorable situation in the Russian Federation in the field of investments in the real sector of the economy (as capital investments in production sectors of the economy are called) is caused by the following reasons:

• high inflation rates characteristic of the 1990s did not allow enterprises to fully carry out the expanded reproduction of fixed assets, since sales proceeds due to differences in prices traditionally did not even cover the costs of raw materials, materials, and fuel;
• external investors invest exclusively in those sectors that provide quick returns (trading activities, raw materials industries, production of building materials)

Investments in fixed assets of a commercial organization are made from the following sources: depreciation, profit of a commercial organization, long-term bank loans, budget loans and investments, proceeds from the placement of shares on the financial market, proceeds from the placement of long-term securities. Bank credit will not be the main source for investment in fixed assets, since for credit institutions issuing long-term loans, it is extremely important to maintain liquidity to have liabilities of the same terms and amounts. Limited budget funds also do not allow us to consider budget revenues as an important source of capital investment. Due to the insignificant capacity of the Russian financial market, only a small number of commercial organizations can attract financial resources for capital investments in the financial market. Except for the above, an additional issue of shares is fraught with the danger of losing control over the management of the organization. Consequently, among the sources of capital investments, the main ones at present for Russian commercial organizations will be profit and depreciation.

In addition to the expanded reproduction of fixed assets, part of the organization's profit can be used to expand working capital - the purchase of additional raw materials. It is worth saying that for this purpose short-term bank loans can also be attracted, funds received through redistribution from the main (“parent”) company, etc. can be used.

It is important to know that the participation of a commercial organization in scientific research is of great importance for business development. It is appropriate to note that experience foreign countries shows that organizations that carry out innovations are less exposed to the risk of bankruptcy and provide high level profitability. The material was published on http://site
Consequently, part of the profit of a commercial organization, as well as funds received in the order targeted financing(for example, budget funds) may be intended for research and development work (R&D)

In domestic literature, the non-monetary form of the main and working capital It is traditionally customary to call ϲᴏᴏᴛʙᴇᴛϲᴛʙessentially fixed and working capital.

As already noted, deductions from profits can be directed to industry and inter-industry R&D funds. It must be remembered that such deductions reduce the tax base for income tax.

Profit as monetary income of a commercial organization is subject to taxation. It is worth saying that in order to determine the taxable base for the income tax of an organization, income from the sale of goods (works, services) and property rights, as well as non-operating income is reduced by current expenses incurred. Taxable income includes only income accepted for tax purposes. Income that is not taken into account when determining the tax base (for example, receipts in the form of targeted financing) is not subject to taxation. Similarly, expenses are divided into: a) reducing the tax base and b) made from profits remaining at the disposal of the organization. Today it is possible to carry forward losses to future periods. Based on all of the above, we come to the conclusion that in practice a situation is possible when, although a commercial organization has profits according to financial statements, it may not have taxable profits according to tax accounting data.

Russian tax legislation sets the corporate income tax rate at 24% (for non-residents - 20%); for income in the form of dividends - 6% (for non-resident organizations on Russian securities and resident organizations on securities of foreign issuers - 15%); for income from state and municipal securities issued after January 20, 1997 - 15%. In general, we can talk about a relatively low income tax rate (for comparison: in Germany the maximum corporate income tax rate is 50%). It is extremely important to note that the introduction of Chapter 25 of the Tax Code of the Russian Federation “Organizational income tax” implies a reduction in tax benefits provided for by previous legislation.

Small enterprises can switch to a simplified taxation system, which replaces the payment of corporate income tax, corporate property tax and unified social tax with a single tax. The object of taxation is either income received (they are taken into account in the same way as when determining the taxable base for corporate income tax), or income reduced by expenses. In the first case, the tax rate is 6%, in the second - 15%.

If the activities of a small enterprise are subject to a single tax on imputed income in a constituent entity of the Russian Federation, then the enterprise is obliged to switch to paying such a tax, the rate of which is 15%. The single tax on imputed income also replaces the corporate income tax, corporate property tax, and the single social tax. Organizations producing agricultural products can switch to paying a single agricultural tax (agricultural tax). The mechanism for its application is similar to the single tax under a simplified taxation system.

For further savings, a commercial organization can invest not only in own production, but also into other assets. Such assets may be shares in the authorized capitals of other organizations (including shares of other issuers); debt securities (bonds, bills, including state and municipal securities); bank deposits; transfer of funds to other organizations on the basis of loan agreements; acquisition of property for further leasing, etc. These investments can vary in terms of duration: from several hours (such services are offered by banks for short-term investments) to several years. The structure of investments by terms is determined by the structure of the organization's obligations by terms; in this case, it is impossible to place resources in long-term assets while having short-term obligations.
It is worth noting that the main principles for the placement of temporarily available financial resources will be the liquidity of assets (they should easily be converted into means of payment at any time) and diversification (in market conditions of unpredictability of investments, the greater the likelihood of saving funds, the larger the set of assets in which investments are made)

It is important to note that one of the main differences between commercial organizations and non-profit organizations is essentially that the profit received by commercial organizations is distributed among the owners of the organization. Joint stock companies pay dividends to owners of common and preferred shares; partnerships and limited liability companies distribute profits based on their share of participation in the authorized (warehouse) capital. The profit of unitary enterprises, unless the owner makes a different decision, can come in the form of non-tax revenues to the current budget. The size and regularity of dividend payments on shares and equivalent payments, along with other factors, determine the investment attractiveness of a commercial organization.

The financial resources of a commercial organization can be a source of expenses associated with stimulating employees and supporting their family members. Using profits, many organizations now not only pay bonuses to employees, but also pay for education, healthcare, health-related services (gyms, sanatoriums, etc.), and purchase housing; make additional payments to state benefits for children; conclude agreements on voluntary medical insurance for employees and members of their families, and additional pension benefits. Thus, among non-state pension funds, the largest share in terms of the size of pension reserves and additional pensions is occupied by the so-called corporate funds created by a commercial organization or related commercial organizations.

Financial resources of organizations (profits, revenues) can currently also be used for charitable purposes. Funds are transferred to orphanages, boarding schools, healthcare institutions, directly to individual citizens, and support is also provided to cultural, art, scientific and educational institutions. Considering the main goal of the activities of commercial organizations is to extract maximum profit, this type of use of financial resources cannot be large-scale. It is important to note that, however, with all this, many social service institutions, theaters, museums, and educational institutions receive funds from large commercial organizations.

Features of financial management of commercial organizations

Financial management of a commercial organization is the process of creating a financial mechanism for organizing its financial relations with other entities. It is worth noting that it includes the following main elements:

• financial planning;
• operational management;
• financial control.

1. Financial planning. When developing financial plans for a commercial organization, the planned costs of the activities carried out are compared with the available opportunities, and directions for effective investment of capital are determined; identification of on-farm reserves for increasing financial resources; optimization of financial relationships with counterparties, the state, etc.; the financial condition of the enterprise is monitored. The need for financial planning of a commercial organization can be caused not only by internal needs effective management financial resources, but also externally - the desire of creditors and investors to have information about the profitability of upcoming investments.

A variety of methods are used to draw up financial plans and forecasts for a commercial organization:

• normative,
• economic and mathematical modeling,
• discounting, etc.

The normative method can be used in estimating future tax liabilities and the amount of depreciation charges. It is appropriate to note that optimization of sources of financial resources and assessment of the influence of various factors on their possible growth are carried out using the method of economic and mathematical modeling. When making long-term decisions, the discounting method is used, which involves assessing the future return on investments and the impact of inflationary factors on it.

A market economy is characterized by uncertainty, so the most difficult thing when developing financial plans and forecasts for a commercial organization will be the assessment of possible risks. When managing risks, it is extremely important to identify, classify, assess their size and impact on decisions made, and determine possible measures to reduce risk (insurance, hedging, creating reserves, diversification). Today, standard methods for assessing risks in various fields of activity and development exist and can be widely used mechanisms for their minimization.

A specific feature of financial planning for a commercial organization will be the absence of any mandatory forms of financial plans and forecasts. Requirements for the composition of indicators of financial plans and forecasts can be determined by: management bodies of commercial organizations (for example, a meeting of shareholders of a joint-stock company); the body that regulates the securities market and determines the composition of the information presented in the prospectus; credit institution. At the same time, various credit institutions have forms of technical justification for a loan application, which reflect forecast financial indicators, may differ.

Today, the process of developing financial plans and forecasts for a commercial organization is commonly called budgeting. When budgeting, financial plans are developed and linked to each other:

• cash income and expenses of the organization (financial plans of enterprises were traditionally developed in the form of a balance of income and expenses);
• assets and liabilities (balance sheet forecast traditionally linked to the timing of liabilities and investments);
• cash flows (in a centrally planned economy, such financial plans were called a cash plan, which reflects cash receipts and upcoming expenses in cash, and a payment calendar (an assessment of upcoming receipts and payments in non-cash form))

The balance of cash income and expenses as the main financial plan of a commercial organization traditionally contains four sections:

1. income;
2. expenses;
3. relationship with the budget system;
4. settlements with credit institutions.

Forecasts of income and expenses, assets and liabilities, and cash flows may be contained in the business plan of a commercial organization. A business plan demonstrates the strategy of the financial and economic activities of the organization; on its basis, creditors and investors make decisions about providing it with funds. The financial part of the business plan contains the following calculations: forecast of financial results; calculation of the need for additional investments and the formation of sources of financing; discounted cash flow model; calculation of the profitability threshold (break-even point)

2. Operational management. It is important to know that analysis of the implementation of financial plans and forecasts is of great importance for managing the finances of a commercial organization. In this case, it is not always a mandatory condition that the planned financial indicators be actual. Of greatest importance for effective management is identifying the reasons for deviations from planned (forecast) indicators. Data on the actual implementation of financial plans is analyzed not only by special divisions of the organization, but also by the management bodies of a commercial organization.

To take operational management decisions on financial issues, it is important for the organization’s management not only to have financial plans and forecasts, but also to receive extensive information about the state of the financial market, financial condition counterparties for transactions, possible changes in market conditions, tax reform. In large organizations, special analytical centers are created to collect such information. A commercial organization can also buy such information - in particular, analytical reviews on financial markets will be one of the services of modern commercial banks. Consulting services that influence financial decision-making can also be provided by audit firms.

Commercial organizations resort to the services of management companies and other participants in the securities market when placing financial resources in securities, placing their own securities on the market, carrying out cash and forward transactions in various segments of the financial market.

A credit institution traditionally acts as the parent company in a financial-industrial group, ϲᴏᴏᴛʙᴇᴛϲᴛʙthe financial management functions of all organizations included in this group, are more concentrated in her. The parent company of a financial-industrial group optimizes financial flows between participants, manages risks, and determines the strategy for allocating financial resources of organizations included in the group.

3. Financial control. State financial control over commercial organizations of non-state forms of ownership is limited to issues of fulfillment of tax obligations, as well as the use of budget funds, if the commercial organization receives such funds as part of state assistance. It is important to know that internal financial control, as well as audit control, are of great importance for the effective financial management of a commercial organization.

On-farm financial control can be carried out by special units created in commercial organizations that carry out inspections and analysis of documents. On-farm financial control also occurs in the process of approval by the head of the organization (heads of departments) of documents formalizing financial and business transactions. Commercial organizations included in holdings and associations are inspected by parent (“parent”) companies, which also have special control services.

To obtain reliable information about the financial condition of a commercial organization and identify existing reserves, its management can initiate an audit and survey. Certain types of activities, organizational and legal forms, high levels of assets and revenue from sales of products (works, services), participation of foreign capital require a mandatory audit report on the reliability of the financial statements of a commercial organization. Based on all of the above, we come to the conclusion that audits of a commercial organization can be both proactive and mandatory.

A feature of the internal and audit control of a commercial organization will be its focus on assessing the effectiveness of management decisions made, as well as identifying reserves for the growth of financial resources.

Based on all of the above, we come to the conclusion that financial management of a commercial organization includes management elements similar to other parts of the financial system, but with this there are specifics of financial planning, operational management and organization of financial control.

Control questions

1. Name the main groups of relations that determine the finances of commercial organizations. Define the finances of commercial organizations.
2. What are the principles of organizing finance in commercial activities?
3. What factors influence the financial mechanism of a commercial organization?
4. Define the financial resources of a commercial organization.
5. Indicate the sources of formation of financial resources of a commercial organization.
6. Name the types of financial resources of a commercial organization.
7. For what purposes can the financial resources of a commercial organization be used?
8. What is the dilemma in choosing directions for using the financial resources of commercial organizations?
9. What are the specifics of financial planning for a commercial organization?
10. What are the features of control over the financial activities of a commercial organization?

Tasks for independent work

1. Make a table reflecting the influence of industry, organizational and legal factors on the features of the financial mechanism of various commercial organizations.
2. Using the example of financial statements of a specific commercial organization, determine the structure of sources and types of financial resources. Give possible reasons for this structure.
3. Name what decisions a commercial organization can make regarding the use of financial resources when profitability in financial markets increases.
4. Formulate special principles for managing the finances of a commercial organization.

INTRODUCTION ……………………………………………………………… 3

1.1.The essence of finance of organizations……………………………... 6

1.2.Functions of finance of organizations………………………………11

ORGANIZATIONS

2.1.Principles of organizing finances of organizations………………. 15

2.2.Sources of formation of financial resources…………….. 20

2.3. Problems of formation of financial resources……………... 25

USE……………………………………………………………… 31

CONCLUSION……………………………………………………….. 36

LIST OF REFERENCES………………….. 40

INTRODUCTION

Finance, being an integral element economic mechanism management of organizations, serve as the basis for the formation of various funds of funds necessary for normal economic activity: authorized capital and reserve fund, accumulation and consumption funds, wage fund, depreciation and repair funds, commercial risk fund, etc.

Financial resources are the economic basis for the organization trading activities on the principles of self-financing. The scale and pace of development of trade turnover and all economic activities depend, first of all, on the availability of financial resources. On the other hand, the growth of trade turnover and the successful implementation of business plans ensure an increase in financial resources and strengthening of the financial position of trading organizations due to increased profits from business activities.

In the context of the development of market relations and the functioning of the financial market, it is required to new approach to financial resource management. The procedure for the formation and use of financial resources, as well as the relationship of organizations with the financial and credit systems, are changing.

The financial resources of an organization are the totality of its own cash income and receipts from outside, intended to fulfill the financial obligations of the organization, finance current costs and costs associated with the development of production.

The organization's financial resources are used to create funds for special purposes (wage fund, production development fund, material incentive fund, etc.), fulfill obligations to the state budget, banks, suppliers, insurance authorities and other organizations. Financial resources are also used to finance the costs of purchasing raw materials, supplies, and labor. Capital is part of the organization’s finances invested in production and generating income upon completion of turnover. In other words, capital acts as a converted form of financial resources.

The finances of organizations have a single holistic orientation, but in each specific case they reflect industry characteristics, expressed in the specifics of capital turnover, servicing reproduction processes, emission and investment activities.

The availability of sufficient financial resources and their effective use predetermine the good financial position of the organization, solvency, financial stability, and liquidity. In this regard, the most important task of organizations is to find reserves for increasing their own financial resources and their most effective use in order to improve the efficiency of the organization as a whole.

The role of finance of organizations is also important in ensuring the normal state of the economy and social life of the country, since due to their specific features they carry out the process of distribution and redistribution of national income and national wealth at three main levels: at the national level; at the organizational level; at the level of production teams.

Effective formation and use of financial resources ensures the financial stability of organizations and prevents their bankruptcy. In market conditions, the state of finances of organizations is of interest to direct participants in the economic process.

Purpose course work is a study of the sources and principles of formation of the organization’s financial resources, as well as identifying problems of their formation and use.

To achieve this goal, it is necessary to solve the following tasks:

Consider the essence of the organization’s finances;

Determine the functions of the organization’s finances;

Consider the principles of organizing the organization’s finances;

Identify sources of financial resources;

Identify the problems of forming the organization’s financial resources;

Consider the financial resources of organizations and their use.

To solve the assigned problems, materials from the following authors were taken: when considering the essence of an organization’s finances, materials from the works of Buryakovsky V.V. “Enterprise Finance”, Kovaleva A.M., “Finance”, an online magazine for economists, brokers, financiers - Soldi- news.ru; when considering the principles - the work of Buryakovsky V.V. “Enterprise Finance” and Kovalev V.V. . « Finance of organizations (enterprises)"; when identifying the sources of formation of financial resources, materials from the Internet magazine for economists, brokers, financiers were used - Soldi-news.ru, Yarkina T.V., “Fundamentals of Economics of an Organization”, Polyak G.B., “Financial Management”; when determining the problem of forming financial resources of organizations, an article from the magazine “Consultant” No. 19 was considered; also used materials by Pavlova L.N. “Finance of Organizations”, Kolchina N.V. “Finance of Organizations”, Kovaleva, A.M. “Company Finance”, Kremenukova S.V. “Financial resources of the organization”, Vakhrina P. I. “Finance”.

Thus, the work contains three chapters that discuss the general concepts of organizational finance, their formation and use.

CHAPTER 1. GENERAL CONCEPTS OF ORGANIZATIONAL FINANCE

1.1.The essence of finance of organizations

The finances of organizations are economic, monetary relations arising as a result of the movement of money and the cash flows generated on this basis, associated with the functioning of the monetary funds created in organizations.

The finances of organizations are the basis of the state's financial system, since organizations represent the main link of the national economic complex. The state of the organization’s finances influences the provision of national and regional monetary funds with financial resources. The dependence here is direct: the stronger and more stable the financial position of organizations, the more secure the national and regional monetary funds are, the more fully satisfied social and cultural needs, etc.

The presence of finances of organizations is due to the existence of commodity-money relations and the operation of the laws of value and supply and demand. Sales of products and services are carried out through purchase and sale for money at prices reflecting the cost of the goods. But money itself is not finance. This is a special commodity through which the value of all other goods is determined and expressed and their circulation occurs. Finance is an economic relationship carried out through the circulation of money, that is, monetary relations.

One of the most successful definitions of financial resources is the following: the financial resources of an organization are cash income and receipts at the disposal of a business entity and intended to fulfill financial obligations, carry out expenses for expanded reproduction and economic stimulation of workers.

Since the finances of organizations are directly related to production and reflect the patterns of economic development, they are a category included in the economic basis.

To ensure the reproduction process with the help of finance, special-purpose monetary funds are formed in organizations in all sectors of the national economy, used for production needs and to meet the social and personal needs of workers.

Thus, the finances of organizations represent a set of economic, monetary relations that arise in the process of production, distribution and use of the total social product, national income, national wealth and are associated with the formation, distribution and use of gross income, cash savings and financial resources of organizations. These relationships, which determine the essence of this category, are mediated in monetary form.

Financial relations that determine the content of this category usually include monetary relations that arise in the process of expanded reproduction (Fig. 1), namely:

Between organizations and other business entities;

Between organizations and the budget system;

Between organizations and the financial and credit system;

Within various associations of organizations;

Within the organization.

Financial relations with other organizations include relations with suppliers, buyers, construction, installation and transport organizations, post and telegraph, foreign trade and other organizations, customs, organizations and firms of foreign countries.

The relations of organizations with the financial and credit system are, firstly, the financial relations of organizations with banks, which are built both in terms of organizing non-cash payments and in relation to the receipt and repayment of short-term and long-term loans and interest on them. The organization of non-cash payments has a direct impact on the financial position of organizations. Credit is a source of formation working capital, expanding production, its rhythm, improving product quality, helps eliminate temporary financial difficulties of organizations.

Financial relations of organizations with parent organizations include relations regarding the formation and use of centralized funds, which in conditions of market relations are an objective necessity. This is especially true for financing investments, replenishing working capital, financing import operations, scientific research, including marketing ones. Intra-industry redistribution of funds, as a rule, on a repayable basis, plays an important role and contributes to the optimization of organizations’ funds.

Financial relations within an organization include relations between branches, workshops, departments, teams, etc., relations with workers and employees, as well as with shareholders and investors of the organization. Relations between divisions of the organization are related to payment for work and services, distribution of profits, working capital, etc. Their role is to establish certain incentives and financial responsibility for the high-quality fulfillment of accepted obligations. Relations with workers and employees include the payment of wages, bonuses, benefits, financial assistance, as well as the collection of fines for damage caused and the withholding of taxes. Shareholder and investor relations are the payment of interest and dividends on shares or investments in an organization.

Thus, the role of financial organizations is as follows:

1. By distributing and redistributing national income and national wealth at the national level, the finances of organizations ensure the formation of the country’s financial resources used to form the budget and extra-budgetary public funds.

2. During the distribution and redistribution of national income and national wealth at the organizational level, they provide the sphere of material production with the necessary financial resources and funds for the continuous process of expanded reproduction.

3. At the level of production teams, with the help of finance, monetary funds such as wage and material incentive funds are formed, and social development programs for organizational teams are implemented.

4. The role of finance of organizations is important in ensuring balance in the national economy between material and monetary funds intended for the purposes of consumption and accumulation. The stability of the national monetary unit, monetary circulation, and the state of payment and settlement discipline in the national economy largely depend on the degree to which such balance is ensured.

5. The direct connection of the finances of organizations and the finances of sectors of the national economy with all phases of the reproduction process determines their high potential activity and wide possibility of influencing all aspects of the economy. Therefore, the finances of organizations can serve important tool economic stimulation, control over the country's economy and its management.

6. Institutional finance can be an important tool. government regulation economy. With their help, the reproduction of the manufactured product is regulated and the needs of expanded reproduction are financed based on the optimal balance between funds allocated for consumption and accumulation. Organizational finances can be used to regulate sectoral proportions in a market economy, help accelerate the development of individual sectors of the economy, create new industries and modern technologies, and accelerate scientific and technological progress.

1.2. Functions of finance of organizations

Organizational finance performs the same functions as public finance, distribution and control. However, the range of activities of financial organizations is much wider than the range of activities of public finance. Public finances carry out functions mainly at the stage of secondary distribution of national income in the process of formation and execution of the state budget, local budgets, and other centralized funds of the state, while the finances of organizations carry out their activities both at the stage of formation of national income and at the stage of primary and secondary distribution and redistribution thereof. Therefore, that part of finance that functions in the sphere of material production, namely, the finances of organizations, and participates in the process of creating cash income and savings, performs not only distribution and control, but also the function of generating cash income.

In the process of formation and use of the depreciation fund, mobilization of internal resources in capital construction, with the help of financial organizations, the redistribution of national wealth is carried out.

Thus, the distributive function of finance of organizations should be understood as the implementation of their activities in the process of distributing gross domestic product, national income and national wealth.

With the help of finance, the state distributes the gross product not only in physical form, but also in value. In this regard, it becomes possible necessary control for ensuring cost and natural-material proportions in the process of expanded reproduction.

The control function of the finances of organizations should be understood as their inherent ability to objectively reflect and thereby control the state of the economy of the organization, industry, and the entire national economy and actively influence their activities. The finances of organizations through their financial categories (profit, profitability, etc.) implement their inherent control function. Thus, the amount of profit and the level of profitability of production determine the degree of effectiveness of the economic activity of a given entity. The presence of non-operating losses and losses indicates mismanagement in the operation of the organization. The control function contributes to the choice of the most rational mode of production and distribution of gross product and national income in the organization and in the national economy.

The assignment of financial resources in the organization is a means of ensuring production activities organizations, factors of production or source of the reproduction process. This provision is based on the fact that the main goal of the organization is the production of material goods to satisfy social needs. Therefore, the main function of financial resources that realizes their purpose in organizations is production. It is advisable to optimally provide financial resources for all stages of the reproduction process, and here we are talking about all kinds of financial resources. It is through financial resources that the organization generates property, renews fixed assets, and replenishes working capital. The priority of this function is due to the fact that the flow of its own financial resources, which are the basis of its activities, and, therefore, the pace of economic development of the business entity and the social well-being of workers largely depends on the efficiency and continuity of the organization’s production activities.

An integral part production function The financial resources of an organization is an operational function, which consists in the current provision of organizations with funds for normal functioning, for making payments and settlements, and fulfilling short-term obligations. The operational function does not have a significant impact on the long-term development strategy of the organization, so it is limited to financial support for simple reproduction.

Not all financial resources serve the production sector of the organization, since the organization has certain obligations to the financial and credit system and employees. Therefore, part of the resources is diverted into the non-productive sphere of the organization and performs a non-productive function: reserve capital, accumulation fund, consumption fund and other funds. The emergence of this function is due to the organization’s obligations and the need to expand its activities. The role of this function is important, since its production activities depend on how timely and fully the organization’s obligations are fulfilled.

The development of market relations has led to the fact that today any business entity is interested in the profitable use of available resources. Therefore, part of the financial resources serving the non-productive sphere of the organization is directed to expanded reproduction, that is, they perform an investment function, which is realized through profitable short-term and long-term financial investments.

Innovation activities, as well as venture financing, are closely related to the process of profitable use of available financial resources. Innovation activities include the constant progressive development of organizations based on the latest forms management and financing, organization of financial relationships. Venture financing provides financial resources for innovative activities. It includes financing of scientific and technical developments and inventions. Such financing requires significant capital accumulation and the choice of a long-term development strategy. It is based on variability in decision making and discounting cash receipts. Venture capital management must be strictly goal oriented.

To ensure liquidity, part of the organization's financial resources must be kept in cash or in funds and reserves that do not generate income. This part of the resources performs a consumption function. This function, unlike the investment function, does not create surplus value.

Thus, it is important to optimally maintain the ratio of resources located in the production and non-production spheres, generating income or being consumed. This will ensure the continuity of the production process and implementation of the production program, fully fulfill external and internal obligations, without forgetting about liquidity and profitable use of available resources. The more resources are involved in profitable turnover, the more effective all production and economic activities of the organization are.

CHAPTER 2. FORMATION OF FINANCIAL RESOURCES

ORGANIZATIONS

2.1.Principles of organizing finances of organizations

Since the finances of organizations as relationships are part of the economic relations that arise in the process of economic activity, the principles of their organization are determined by the fundamentals of the organization’s economic activity.

The basis for organizing the finances of organizations of all forms of ownership is the availability of financial resources in the amounts necessary to carry out the economic and commercial activities of the organization.

The initial formation of these resources occurs during the creation of the organization through the formation of the authorized capital. The sources of formation of the authorized capital can be: share capital, share contributions, the entrepreneur’s own funds, long-term loan, budget funds, etc.

In the context of the transition to a market economy, organizations operate on the basis of full commercial calculation and self-financing, aimed at obtaining sufficient profits.

Commercial calculation means the economic independence of the organization and responsibility for the results of its work.

Thus, the implementation of the financial activities of the organization is based on the implementation of the following basic principles:

self-financing;

Availability of target funds of funds in the organization.

Self-financing - required condition successful economic activities of organizations in a market economy. This principle is based on the full recovery of costs for the production of products and the expansion of the production and technical base of the organization.

Basic principles of organizing finances of organizations.

The principle of self-financing means a method of economic and investment activity in which all costs associated with mandatory payments to the budget and other centralized funds, as well as costs of expanded reproduction, are fully covered by profits and other own sources.

The economic activities of an organization are inextricably linked with its financial activities. The organization independently finances all areas of its expenses in accordance with production plans, manages available financial resources, investing them in the production of products in order to make a profit.

The distinction between funds from core activities and investment activities means that working capital and other assets assigned to core activities cannot be used by the organization for the needs of capital construction, and vice versa.

It is important to divide the sources of financing of working capital into own and borrowed ones. Own funds include funds assigned to the organization for perpetual use. Borrowed funds are basically bank loans that are provided to an organization for a relatively short period of time for a specific purpose at interest. The combination of own and borrowed funds allows the organization to use working capital more rationally. Complete safety of working capital is a necessary condition for the continuity of their turnover. The organization is obliged to ensure the safety, rational use and acceleration of turnover of working capital.

The need to control the financial and economic activities of an organization objectively follows from the essence of finance as monetary relations. The financial and economic activities of an organization are associated with the formation and expenditure of funds, and therefore affect the interests of the state, employees of the organization, shareholders and all possible counterparties of the organization. Control is manifested through the analysis of the financial performance of the organization and measures of influence of various contents.

For normal functioning, each organization must have certain target funds of funds. The most important of them are: a fixed asset fund, a working capital fund, a financial reserve, a depreciation fund, a repair fund, a fund for the development of production, science and technology, a material incentive fund, a social development fund, etc. The formation of these funds, their management and their proper use constitute one of the most important aspects of financial work in organizations.

Also distinguished:

The principle of economic efficiency. Its semantic load is determined by the fact that since the creation and operation of a certain financial management system of an organization inevitably involves costs, this system must be economically feasible in the sense that direct costs are justified by direct or indirect income. Since it is not always possible to give unambiguous quantitative assessments that argue or confirm this feasibility, optimization of the organizational structure is carried out on the basis of expert assessments in dynamics - in other words, it is formed gradually and is always subjective.

The principle of financial control. The activities of the organization as a whole, its divisions and individual employees must be periodically monitored. Control systems can be built in different ways, but practice shows that financial control is the most effective and efficient. In particular, one of the most important ways to monitor the congruence of the goals of the company's owners and its management personnel is to conduct audits. Auditing activity represents the entrepreneurial activity of auditors (audit firms) to carry out independent non-departmental audits of accounting (financial) statements, payment and settlement documentation, tax returns and other financial obligations and requirements of economic entities, as well as the provision of other audit services (accounting, valuation, tax planning, corporate financial management, etc.). Internal financial control is carried out by organizing an internal audit system.

Large companies always have an internal audit service; Moreover, in economically developed countries, so-called institutes of internal auditors have been created. As an example, we can mention the American Institute of Internal Auditors ( The Institute of Internal Auditors ), whose members are its graduates - certified specialists in intra-company financial analysis and control.

The principle of financial incentives (reward/punishment). This principle essentially corresponds closely with the previous one, and its meaning lies in the fact that it is within the framework of the financial management system that a mechanism is developed to increase the efficiency of individual departments and the organizational structure of the management of the organization as a whole. Naturally, it comes to financial measures. This principle is most effectively implemented by organizing so-called responsibility centers.

Under responsibility center is understood as a division of an economic entity, the management of which is endowed with certain resources and powers sufficient to fulfill the established plan targets. Wherein:

Senior management determines one or more basic (system-forming) criteria and sets their planned values;

Judgment about the effectiveness of the responsibility center is made on the basis of the fulfillment of planned tasks according to system-forming criteria;

The management of the unit is allocated resources in agreed amounts sufficient to fulfill planned targets;

Resource limitations are quite general character, i.e., the management of the responsibility center has complete freedom of action in relation to the structure of resources, the organization of the production and technological process, supply and distribution systems, etc.

The point of identifying responsibility centers is to encourage initiative among middle managers, increase the efficiency of departments, obtain relative savings production and distribution costs.

The principle of financial responsibility. Any organization develops a system of incentive measures and criteria for evaluating the activities of structural units and individual employees. An integral element of such a system is the idea of ​​financial responsibility, the essence of which is that individuals those related to the management of material assets are liable in rubles for unjustified results

of its activities. Forms of organization of financial responsibility can be different, but there are two main ones: individual and collective material liability.

Individual financial responsibility means that a specific financially responsible person (storekeeper, head of a department, salesperson, cashier, etc.) enters into an agreement with the management of the organization, according to which any shortage of inventory items, i.e. their disposal, not accompanied by supporting documents , must be reimbursed by that person. In some situations, standards are established within which accounting estimates may deviate from actual ones; in this case, the financially responsible person must compensate only for excess losses (in particular, in trade, at the expense of pre-tax profits, reserves are made for the forgetfulness of buyers, for the shrinkage and destruction of goods, etc.). The list of financially responsible persons is determined by the organization.

In the case of collective material liability, it is no longer a specific financially responsible person who is responsible for possible shortages, but a team (for example, a team of salespeople replacing each other in a store department when the work shift is less than the total working day of the store as a whole). This form of accountability helps to avoid unnecessary frequent inventory counts.

2.2.Sources of formation of financial resources

The formation of financial resources is carried out at the expense of own and equivalent funds, the mobilization of resources in the financial market and the receipt of funds from the financial banking system in the order of redistribution. The initial formation of financial resources occurs at the time of establishment of the organization, when the authorized capital is formed. Its sources, depending on the organizational and legal forms of management, are: equity (authorized) capital, share contributions of members of cooperatives, industry financial resources (while maintaining industry structures), long-term credit, budget funds. The size of the authorized capital shows the size of those funds - fixed and working capital - that are invested in the production process.

The main source of financial resources in operating organizations is cost products sold(services provided), the various parts of which, in the process of revenue distribution, take the form of cash income and savings. Financial resources are formed mainly from profits (from core and other activities) and depreciation charges. Along with them, sources of financial resources also include:

Stable liabilities

Mobilization of internal resources in construction, etc. The processes of privatization of state property that are unfolding everywhere lead to the appearance and will play an important role of another source of financial resources - shares and other contributions of members of the labor collective. Significant financial resources, especially for newly created and reconstructed organizations, can be mobilized in the financial market. The forms of their mobilization are: sale of shares, bonds and other types of securities issued by this organization, credit investments. Before the transition to market economic conditions, organizations received significant financial resources on the basis of intra-industry redistribution of funds and budget financing. However, the principles of market management and the introduction of commercial principles into the activities of organizations naturally required fundamentally different approaches to the formation of financial resources.

Orientation towards initiative and entrepreneurship, full financial responsibility led to two major changes in the field of financial relations of organizations with other structures: firstly, the development of insurance operations, and, secondly, a significant reduction in the scope of gratuitously received appropriations. In this regard, during the transition to market principles of economic management, insurance compensation payments received from insurance companies will gradually play an increasingly greater role in the composition of financial resources formed in the order of redistribution, and budget and industry financial sources will gradually play a lesser role.

Organizations will be able to receive financial resources: from associations and concerns of which they belong (only if this is provided for by the mechanism for using the corresponding monetary funds); from higher organizations - while maintaining industry structures; from the authorities government controlled- in the form of budget subsidies for a strictly limited list of costs. But in the conditions of functioning of the securities market, such types of financial resources will appear as dividends and interest on securities of other issuers, as well as profit from financial transactions.

The use of financial resources is carried out by the organization in many areas, the main of which are: - payments to the authorities of the financial and banking system, conditioned by the fulfillment of financial obligations. These include; tax payments to the budget, payment of interest to banks for using loans, repayment of previously taken loans, insurance payments, etc.; - investment of own funds in capital costs (reinvestment) associated with the expansion of production and its technical renewal, transition.

The composition of the organization's financial resources is shown in Table 1.

Table 1. Sources of financial resources of the organization

So, financial resources are generated from own and borrowed funds.

The starting source of financial resources at the time of establishment of an organization is the authorized (share) capital - property created from the contributions of the founders (or proceeds from the sale of shares).

In some cases, an organization may be provided with subsidies (in cash or in kind) from state or local budgets, as well as special funds. There are:

Direct subsidies - government capital investments in objects that are especially important for the national economy, or in low-profit, but vitally necessary;

Indirect subsidies carried out through tax and monetary policy, for example, through the provision of tax breaks and preferential loans.

The totality of an organization’s financial assets is usually divided into working capital and investments.

2.3.Problems of generating financial resources

On at this stage Two of the most pressing problems in the formation of financial resources can be traced: high interest rates on attracting loans and borrowings and the ratio of borrowed capital to equity.

What should be the final ratio of own and borrowed funds, this question, despite all the efforts of theorists of financial science, still does not have a final clear answer.

The question of the financing structure can be considered from the point of view of business risk. Business risk can be assessed in terms of an asset (production risk) or a liability (financial risk). Risk is measured quantitatively by the so-called leverage, or leverage. This is an indicator that takes into account the sensitivity of profits to fluctuations in income ( production leverage) or interest payments (financial leverage). The theory does not provide a single indicator that could reflect both types of risk collectively. However, it is believed that high financial risk should not be combined with high production risk.

The easiest way to assess production leverage is by the share of fixed costs in the organization's total expenses. The higher it is, the higher the production risk. Of course, revenue may experience such strong seasonal fluctuations that during a recession, income is lower than even fixed expenses. In this case, it is necessary to form an appropriate fund that would counter such an adverse impact. This requirement is usually met by those firms that are accustomed to regular sales declines. Which companies have a high level of fixed costs?

To do this, you need to consider the classification of organizations according to the criterion of the most important factor of production, by type of business:

Fund-intensive. For him, the main factor is non-current assets: land, buildings and structures, equipment. These are large metallurgical and shipbuilding plants, agricultural production, transport, and construction. The main share of expenses of organizations in these industries falls on funds: depreciation plus expenses for maintaining their technical condition. And almost all of these expenses are permanent. These include organizations in the sphere of material production.

Material-intensive. This business depends on purchased raw materials, materials and components. As a rule, this is trade, both wholesale and retail. The main share of costs in these industries falls on raw materials, materials and components. Therefore, the financial result turns out to be sensitive to extremely weak fluctuations in the trading margin.

Labour intensive. The main factor of this business is personnel, and the main expense is wages. This includes a significant part of the service sector: consulting, education, partly healthcare. Here, production risk is primarily due to the payment of wages. The company's management can theoretically tie it to performance results, but risks losing employees. The level of fixed costs here is lower than in capital-intensive industries, and there is more room for maneuver. However, the production risk is still quite high.

There are also industries whose organizations either do not have a distinct type or may belong to different types depending on the circumstances. For example, catering. In an inexpensive cafe, the shares of expenses for funds, raw materials and wages can be approximately equal. At the same time, a fashionable restaurant will almost certainly turn out to be a capital-intensive organization, and a factory canteen will be a material-intensive organization.

To assess financial risk, there is also an indicator - the strength of financial leverage. It is equal to the ratio of the sum of book profit and interest payments to book profit. The greater the impact, the higher the financial risk: to earn one ruble of profit, you need to receive one ruble of revenue and some more. Moreover, this additional amount is greater, the larger the external financing used and the higher the interest on it. In some cases, situations are possible when the interest paid is several times greater than the final profit.

To prevent high production risk from being combined with high financial risk, capital-intensive and (sometimes) labor-intensive organizations should be financed primarily with their own capital. Only a material-intensive business has a chance to develop using primarily external financing - no matter long-term bank or trade credit from suppliers.

In Table 1, combinations that are desirable from a business risk perspective are highlighted by shading. Thus, creating a capital-intensive business while actively attracting external financing is too risky, and a material-intensive business using your own funds is irrational. However, capital-intensive businesses are often organized with external investors in mind. And this is logical: like no other, it needs massive investments. However, for a capital-intensive business it is very difficult to find available funds at the disposal of one investor. There is a contradiction: it is necessary to attract external financing from the standpoint of creating a business, but it is undesirable from the standpoint of riskiness.

The most natural way to overcome this contradiction is to introduce a time gap. A business attracts external financing at the creation stage and weakens its influence at the development stage. Of course, these stages can intersperse, and this is typical for a growing business, but the general principle remains.

The key issue here is the company's ability to provide such a net cash flow (NCF) from its core activities that would guarantee timely repayment of the loan and interest on it. But previous experience or forecast may indicate that revenues will be uneven. In this case, the company is obliged to form a “buffer fund” in advance in the amount of bank payments for several months. As a last resort, obtain the bank’s consent to grant a deferment. Otherwise, you should abandon the business.

Thus, the main document when making decisions about large investments of funds is not the projected profit and loss statement, but the cash flow forecast. At this stage, it is necessary to pay attention to the credit policy of the organization.

Any economist who has drawn up business plans knows that rarely does a business turn out to be more successful than it was imagined in plans. The causes of net cash flow problems can be divided into two groups:

Implementation problems;

Problems of credit policy.

Debt collection is a very important but unpleasant job, so company managers often involuntarily ignore it. In most cases, when cash flow problems arise, managers direct their efforts to increasing sales of products or services. And the exact opposite result is achieved: the more sales in conditions of weak collection, the worse the net cash flow. Managers Russian organizations We have now realized that accounts receivable is not a problem that we have to live with - it must be continuously solved.

The article proposes rules for combining production and financial risk with the level of profit and the quality of credit policy (Table 2). This information is reflected, respectively, in the company's balance sheet, income statement and cash flow budget.

Therefore, it is advisable for organizations to use own sources financing. In the case of using external sources of financing, it is necessary to develop and strictly observe a credit policy, while the price of the product must include a sufficiently high percentage of planned savings.

CHAPTER 3. FINANCIAL RESOURCES OF ORGANIZATIONS AND THEIR

USAGE

The finances of organizations represent a set of economic relations that arise in real money circulation regarding the formation, distribution and use of financial resources.

Cash turnover, being isolated, in whole or in part, forms the material basis of the finances of organizations. Real money turnover is an economic process that causes the movement of value and is accompanied by a flow of cash payments and settlements.

The object of real money turnover is financial resources - its own sources of financing for expanded reproduction, which remain at the disposal of the organization after fulfilling current obligations for payments and settlements.

Financial resources of organizations are a form of financing and lending to entrepreneurial activities. Their functioning is aimed at achieving the common goals of effective development of organizations. Micro-level finances are subject to regulation by state and municipal legislative and executive authorities and management. The main subject of making the most important financial decisions is the owner. The main person who implements these decisions and solves tactical problems is the organization’s financier.

The main elements of the organization's financial resources are: authorized capital, depreciation fund, special purpose funds, unused profits, accounts payable of all types, resources received from centralized and decentralized funds and others.

In modern conditions the problem effective use financial resources is highly relevant; since the constant shortage of both centralized and decentralized financial resources leads to disruptions in the normal functioning of organizations, industries and the national economy as a whole.

The concept of effective use of financial resources, like any other types of resources (material, labor, natural), includes a comparison of the quantity and quality of resources expended with the quantitative and qualitative expression of the results achieved.

The efficient use of financial resources is directly related to the effective use of material, labor and other types of resources. Thus, reducing the material intensity of products, that is, production more production without increasing the volume of raw materials used for this leads to savings in financial resources. Reducing the cost of living labor per unit of production means an increase in the efficiency of use of labor resources, which also leads to saving financial resources through an increase in cash savings and a reduction in the organization’s need for additional funds.

Also, the effectiveness of the use of financial resources can be assessed by comparing the achieved performance results (for example, profit) with the amount of financial resources that were at the disposal of the organization for the corresponding period.

However, the result of economic activity does not always depend only on the effective use of financial resources. Thus, having optimally distributed and used financial resources, the organization may incur losses as a result of a decrease in labor discipline, violations of production technology, excess consumption of materials, raw materials and other reasons. Therefore, in order to consider in more detail the problem of the effective use of financial resources, it is necessary to assess the effectiveness of the use of all components that form the overall financial resources of the organization.

The organization, taking care of its financial stability and stable place in the market economy, distributes its financial resources by type of activity and over time. The deepening of these processes leads to the complication of financial work and the use of special financial instruments in practice.

Thus, the financial resources of organizations have a clear, target orientation, which leaves an imprint on all aspects of activity, including organizational, commercial, investment, contractual, etc. This is profitable work, rational minimization of costs, optimization of financial flows. The financial resources of organizations affect certain socio-political interests of individual segments of society. However, in all their aspects they are aimed at encouraging entrepreneurial activity.

On the financial results of organizations in January-February 2010.

In January-February 2010, according to operational data, the balanced financial result (profit minus loss) of organizations (excluding small businesses, banks, insurance organizations and budgetary institutions) in current prices amounted to +920.6 billion rubles, or +30. 5 billion US dollars (36.3 thousand organizations received a profit in the amount of 1123.2 billion rubles, 22.0 thousand organizations had a loss in the amount of 202.6 billion rubles). In January-February 2009 the balanced financial result amounted (for a comparable range of organizations) to +4.1 billion rubles, or 0.1 billion US dollars.

The balanced financial result (profit minus loss) is characterized by the following data:

______________________

1) Rate of change in net financial result reporting period compared to the corresponding period of the previous year, calculated for a comparable range of organizations; taking into account the adjustment of data for the corresponding period of the previous year, based on changes in accounting policies, legislative acts, etc. in accordance with the accounting methodology.

A dash means that in one or both comparable periods a negative net financial result was obtained.

Now let’s compare these data with previous years:

This shows that during the crisis a negative balanced financial result was obtained.

CONCLUSION

Organizational finances are the most important component unified system of state finances. This is predetermined, first of all, by the fact that they serve the sphere of material production, in which gross domestic product, national income and national wealth. By its essence, the finances of organizations are a specific part of the financial system. Their difference from public finance is due to their functioning in different spheres of social production.

Organizational finance is characterized by the same features as the category of finance in general. At the same time, they have characteristics determined by their functioning in the sphere of material production, where all spheres of the reproduction process are organically connected: production, distribution, exchange and consumption.

The finances of organizations are a set of economic, monetary relations that arise in the process of production, distribution and use of the total social product, national income, national wealth and are associated with the formation, distribution and use of gross income, cash savings and financial resources of organizations. These relationships, which determine the essence of this category, are mediated in monetary form.

The finances of organizations perform the same functions as public finances, distribution and control. However, the range of activities of financial organizations is much wider than the range of activities of public finance. And in addition to these, the finances of organizations perform the following functions:

Production;

Operational;

Non-productive;

Investment;

Consumer.

It is important to optimally maintain the ratio of resources located in the production and non-production spheres, generating income or consumed. This will ensure the continuity of the production process and implementation of the production program, fully fulfill external and internal obligations, without forgetting about liquidity and profitable use of available resources. The more resources are involved in profitable turnover, the more efficient all production and economic activities of the organization are.

The organization’s financial activities are based on the implementation of the following basic principles:

Financial independence;

Interest in the results of financial and economic activities;

self-financing;

Responsibility for the results of financial and economic activities;

Separation of funds from core and investment activities;

Division of the organization's capital into current and non-current;

Division of sources of financing of working capital into own and borrowed;

Monitoring the results of the organization’s activities;

Availability of trust funds for organizations.

Also distinguished:

Principle of economic efficiency;

Principle of financial control;

The principle of financial incentives (reward/punishment);

The principle of financial responsibility.

Financial resources are formed mainly from profits (from core and other activities) and depreciation charges. Along with them, sources of financial resources also include:

Proceeds from the sale of disposed assets,

Stable liabilities

Various targeted revenues (fees for maintaining children in preschool institutions, etc.),

Mobilization of internal resources in construction, etc.

The main sources of financial resources of an operating organization are income (profit) from core and other types of activities, non-operating operations. It is also formed through stable liabilities, various targeted revenues, shares and other contributions from members of the workforce. Stable liabilities include authorized, reserve and other capital, long-term loans and accounts payable that are constantly in circulation of the organization.

Financial resources can come in the form of redistribution from associations and concerns of which they belong, from higher organizations while maintaining industry structures, from insurance organizations.

In some cases, an organization may be provided with subsidies (in cash or in kind) from state or local budgets, as well as special funds.

To reduce the problems of formation and use of financial resources of an organization, an optimal balance of resources located in the production and non-production spheres, generating income or consumed, is necessary. This will allow, on the one hand, to ensure the continuity of the production process and implementation of the production program, and on the other hand, to fully fulfill external and internal obligations, not forgetting about liquidity and profitable use of available resources. Thus, the more resources participate in profitable turnover, the more effective all production and economic activities of the organization will be, and, consequently, the mechanism for the reproduction of economic growth will be implemented.

Financial resources of organizations are a form of financing and lending to entrepreneurial activities. Their functioning is aimed at achieving the common goals of effective development of organizations.

Financial resources are used by the organization in the process of production and investment activities. They are in constant motion and are in monetary form only in the form of cash balances in a current account in a commercial bank and in the cash register of an organization.

The financial resources of organizations have a clear, target orientation, which leaves an imprint on all aspects of activity, including organizational, commercial, investment, contractual, etc. This is profitable work, rational minimization of costs, optimization of financial flows. The financial resources of organizations affect certain socio-political interests of individual segments of society. However, in all their aspects they are aimed at encouraging entrepreneurial activity.

LIST OF REFERENCES USED

1. EBook: Buryakovsky V.V. “Enterprise Finance” - textbook. HTML version of the book.

2. soldi-news.ru - Online magazine for economists, brokers,

financiers.

3. Yarkina T.V., “Fundamentals of Enterprise Economics” (Tutorial)

4. Kovaleva A.M., “Finance” - Textbook. Manual – 4th ed. 2005

5. Kovalev V.V. ., « Finance of organizations (enterprises)”: Uche6. - M.: TK Welby, Prospekt Publishing House, 2006.

6. Polyak G.B., “Financial Management”: Textbook for universities - 2nd ed., revised. and additional –M.: UNITY-DANA, 2006.

7. “Risks of financing in theory and practice”, Elena Breslav, Magazine “Consultant” No. 19, 2005

8. Official website of the State Statistics Committee.

9. Vakhrin, P. I. “Finance”: Textbook for universities / P. I. Vakhrin, A. S. Neshitoy - M.: ICC “Marketing”, 2007.

10. Kremenukov, S.V. “Financial resources of the enterprise” / S.V. Kremenukov. – M.: Finance and Statistics, 2005.

11. Kovaleva, A.M. “Company Finance”: Textbook./ A. M. Kovaleva, M. G. Lapusta, L. G. Skamai. - M.: INFRA-M, 2006.

12. Kolchina, N.V. “Finance of Organizations”: Textbook for Universities / Ed. prof. N.V. Kolchina. - 2nd ed., revised. and additional - M.: UNITY-DANA, 2005.

13. Pavlova, L. N. “Finance of organizations”: Textbook for universities. / L. N. Pavlova - M.: UNITI, 2006.

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INTRODUCTION

In modern conditions of the development of civilization, the problem of education is becoming universal. The development of any state is inextricably linked with the level and quality of educational services provided, which in turn are associated with global changes that have occurred and are occurring in the world. Global, federal and regional problems are reflected in the content of education for the younger generation. Therefore, this topic is very relevant today.

Education in the Russian Federation is a system that cannot exist without interaction with other areas of activity and the state represented by state institutions.

The current state of education in Russia is characterized, first of all, from the standpoint of the insufficiency of budgetary funds allocated by the state to ensure the functioning of this field of activity. Under these conditions, all other problems related to the content and quality of education, the availability of quality education for different segments of the population, better satisfaction of student needs, the development of connections with the labor market, and others, are relegated to the background. Such characteristics of education in our country are due to both negative trends in the development of the domestic economy and the unsatisfactory state of the education system itself.

Currently, issues of the development of education and forms of its financing are among the priorities of the economic and budgetary policy of the state, which is evidence of the general opinion reached in society regarding the role of education in the socio-economic development of the country. A qualitatively new reality is emerging, in which it is important production resource becomes knowledge and information.

Improving the quality of education is an urgent task at the current stage of socio-economic development of Russia. One of the key issues in its solution remains the level of funding for all levels of education.

Despite the annual increase in allocations from the federal budget for the education sector, funds for the implementation of government functions there is a shortage in this area. Insufficient funding gives rise to and further aggravates problems related to the content and quality of education, accessibility of education for various segments of the population, better satisfaction of the needs of citizens, and others. The lack of own financial resources in educational institutions has a negative impact on the development of the material base and the quality of training of specialists, causes an outflow of the most talented part of the scientific and teaching staff, and reduces the level of socio-economic development of the region and its competitiveness in the world market.

The relevance of the issue of financing the education system in the context of ongoing reforms and the presence of unresolved problems in this area, both at the state and regional levels, determined the choice of the topic of this thesis.

The role of education in modern stage Russia's development is determined by the tasks of its transition to a democratic and legal state, to a market economy, the need to overcome the danger of the country lagging behind global economic and social development. In the modern world, the importance of education as the most important factor in the formation of a new quality of economy and society increases along with the growth of influence human capital. The Russian education system is capable of competing with the education systems of advanced countries. At the same time, there is a need for broad public support for the ongoing educational policy, restoration of the responsibility and active role of the state in this area, deep and comprehensive modernization of education with the allocation of the necessary resources for this and the creation of mechanisms for their effective use.

Education, in its inextricable, organic connection with science, is becoming an increasingly powerful driving force of economic growth, increasing the efficiency and competitiveness of the national economy, which makes it one of the the most important factors national security and well-being of the country, the well-being of every citizen.

In the context of market reforms, the relevance of financing educational institutions remains one of the main problems of the state budget.

The purpose of this work is based on a study of the existing system financial security education to develop proposals for improving the formation and use of financial resources in the industry.

The empirical basis of the study is data from the Ministry of Education and Science of the Russian Federation, the Ministry of Finance, federal Service state statistics.

To achieve this goal, it is necessary to solve a number of problems:

1. Characterize the educational sector of the Russian Federation and determine the sources of its financing;

2. Analyze current state financial support and expenses for secondary schools;

3. Determine ways to improve the financial support of educational institutions in the context of reform of the budget process.

The theoretical significance of the work lies in the fact that the conclusions formulated in it can be used for further theoretical and practical development solutions financial problems in the field of development of education in the Russian Federation.

Structurally, the work consists of an introduction, three chapters, a conclusion and a list of references.

CHAPTER 1. EDUCATIONAL SYSTEM OF THE RUSSIAN FEDERATION AND SOURCES OF ITS FINANCING

1.1 Characteristics of the state of the education sector, its place in a market economy

The education system, being one of the most important social institutions, affecting the interests of the entire population of the Russian Federation, must ensure the solution of the key task of the country’s development - the formation of its human potential and, as a consequence, a new quality of economic, social and spiritual relations in society. The right to receive education in accordance with the Federal Law “On Education in the Russian Federation” Federal Law of December 29, 2012 No. 273 “On Education in the Russian Federation”, Article 5 is one of the fundamental and inalienable rights of citizens of the Russian Federation. Great importance is attached to improving the quality of personnel training, training specialists in new areas of science and technology, and constantly improving the educational process.

The state establishes lists of professions and specialties in which education is conducted and forms the basic features of the range of educational services. It carries out certification and state accreditation educational institutions, creates state system certification and diagnostic centers (state certification service), i.e. acts as a guarantor of the quality of educational services and its compliance with educational standards.

The main type of educational institution is educational institutions that provide the content of education and training and (or) implement one or more educational programs. According to their organizational and legal forms, educational institutions can be state, municipal, non-state (private, public and religious organizations). However, the legislation in the field of education applies to all educational institutions on the territory of a particular state, regardless of their organizational and legal forms and subordination.

On December 29, 2012, the new Federal Law No. 273-FZ “On Education in the Russian Federation” came into force, which replaced two basic laws: dated July 10, 1992 No. 3266-1 “On Education” and dated August 22, 1996 No. 125-FZ “On higher and postgraduate professional education". The main provisions of the new education law include a number of changes.

According to the new law, the state is obliged to provide everyone with free general education within the framework of federal state educational standards (FSES). At the same time, paid educational services cannot replace training that is financed from the budget, the document notes. Otherwise educational organization is obliged to return all money to the student or his parents.

Monitoring the effectiveness of universities is becoming annual and mandatory for both public and private universities. In the fall of 2012, the Ministry of Education and Science for the first time conducted monitoring of higher educational institutions, in which 541 state universities and 994 branches took part. As a result, about 40 higher educational institutions and 262 branches were recognized as ineffective and in need of reorganization Data from the Ministry of Education and Science of the Russian Federation, Moscow, 2012 “monitoring the activities of federal higher educational institutions vocational education Russian Federation", section 2.

The changes also affected the Unified State Examination. Previously, the results of the Unified State Exam were valid only until December 31 of the year following the year of graduation. Now the Unified State Examination results will be valid for five years.

The procedure for admission to universities for benefit recipients has also changed. New law establishes a quota of 10% for the admission of disabled people to higher education institutions. The remaining categories - orphans, disabled children, disabled people of groups I and II, citizens under the age of twenty with only one disabled parent of group I, Chernobyl victims, children of military personnel, employees of internal affairs bodies and other departments - will be free study at preparatory departments of universities. The opportunity for such training is allowed only once, but it gives an advantage when entering the university.

Preschool education becomes the first level in the system of lifelong education, which includes general, secondary vocational and higher education. At the same time, the preschool level does not provide for final exams or other forms of assessing children's knowledge. Teaching a child in kindergarten will be free, but parents, as before, must pay for supervision themselves. Children from low-income families will be provided with benefits. Disabled children, orphans and tuberculosis patients will continue to be exempt from fees.

Municipalities are required to provide a child with a place in first grade. By law, the local education authority assigns a school to each microdistrict and ensures the admission of children living in this territory. The administration of an educational institution may refuse to admit a child to first grade only if there are no free places. In this case, the education department must provide parents with information about vacant positions in other schools in the district.

The individual needs of students are taken into account. The law gives priority to inclusive education, which involves teaching children with disabilities not in a specialized, but in a regular educational institution. At the same time, they can still receive education in special institutions. The document pays attention to the education of gifted children. Thus, the law is focused on different educational needs and establishes an individual approach to the education of each child. In particular, the legislator secures the student’s right to an individual educational schedule and to choose subjects for the course.

The system of vocational education has also changed. Now login higher education includes bachelor's, specialist and master's degrees, as well as postgraduate professional education. Schools are moving into the system of secondary vocational education as the first stage in the training of qualified workers and employees. According to the law, secondary vocational education must be publicly available.

Teachers received special status. Now the law legally establishes the special status of teaching staff. In particular, teachers receive the right to undergo additional professional education in their field at least once every three years. According to the document, they are granted an annual basic extended paid leave, a long leave of up to one year at least every ten years of continuous teaching work, as well as early assignment of an old-age pension. Teaching staff who live in rural areas or towns have the right to compensation for housing and communal services expenses. The new law also establishes the rule by which labor costs teaching staff municipal educational organizations cannot be lower than the level corresponding to the average salary in a given constituent entity of the Russian Federation.

The state final certification (GIA) for ninth-graders has become mandatory. Experiments on the introduction of GIA have been carried out in various regions since 2002. Now the exam is carried out in the form of testing on special forms, similar to the Unified State Exam forms. Regional authorities are responsible for organizing and conducting certification of ninth-graders, who also process the results. The development of control measurement materials occurs at the federal level.

The Federal Law “On Education in the Russian Federation” provides a complete definition of education: “Education is a single, purposeful process of education and training, which is a socially significant benefit and carried out in the interests of the individual, family, society and the state, as well as the totality of acquired knowledge, skills and abilities , values, experience and competence of a certain volume and complexity for the purposes of intellectual, spiritual, moral, creative, physical and (or) professional development of a person, satisfying his educational needs and interests” Federal Law of December 29, 2012 No. 273 “On Education in the Russian Federation”, Article 2.

Currently, the management of education in the Russian Federation at the federal level of government is carried out by the Ministry of Education and Science of the Russian Federation and the subordinate Federal Service for Supervision in Education and Science.

At the same time, special attention is paid to the principle of regionalization of education. The main features of the regional education system from the point of view of its organization are: a set of educational institutions in the region, providing the opportunity to differentiate education and training in accordance with the interests of citizens and their level of preparedness; training programs reflecting the scientific, cultural, demographic and economic characteristics of the region. Municipal system includes the characteristics of a regional one, but at the same time especially emphasizes the role of local governments, which can create additional conditions for the functioning and development of the education system using funds from local budgets. From the point of view of resource provision, a system that is financed from the budget of a local government is considered regional.

Educational organizations are divided into types in accordance with educational programs, the implementation of which is the main goal of their activities. In the Russian Federation, the following types of educational organizations are established that implement basic and additional educational programs:

1) preschool educational organization;

2) general education organization;

3) professional educational organization;

4) educational organization of higher education;

5) organization of additional education;

6) organization of additional professional education.

Today there are 4 levels of education, each of which is divided into types and types of institutions. The structure of education in the Russian Federation is shown in more detail in Figure 1.

Figure 1. - Structure of education in the Russian Federation Compiled by the author.

In addition to educational institutions, the education system also includes a wide network of institutions that provide the educational process, the so-called other institutions: scientific and methodological centers, medical, psychological and pedagogical services, centralized accounting departments, technical supervision services for the progress of major repairs and construction of educational facilities, building maintenance services, etc.

1.2 Sources of financing education in modern conditions

The owner of state and municipal educational institutions is the state represented by federal, regional and local government bodies. In accordance with this, the basis of state guarantees for a citizen to receive education within the standards is state or municipal funding. The volume of budget funds is one of the main indicators characterizing the scale of state regulation of the education sector. The degree of participation of the budget of one level or another in financing expenses depends on a number of factors, including: the state structure and common system government controlled; legislative distribution of responsibility for types of education, etc.

Our country combines sectoral and territorial management principles. This allows us to classify the structure of financial flows for the maintenance of education by budget levels. The federal budget finances the maintenance of federal educational institutions and the implementation of federal educational programs; educational subventions within the limits of transfers to regions in need of financial support. The activities of the educational institution are financed in accordance with the law. Financing of federal state educational institutions is carried out on the basis of federal standards for financing state educational institutions under the jurisdiction of the constituent entities of the Russian Federation, and municipal educational institutions on the basis of federal standards and standards of the constituent entity of the Russian Federation. These standards are determined for each type, type and category of educational institution per student, pupil, and also on another basis. For small rural educational institutions considered as such by state authorities and educational management bodies, the funding standard should take into account costs that do not depend on the number of students. The standards for financing federal state educational institutions are established by the Government of the Russian Federation.

Regional and local levels are similar to the federal level. Local governments may establish standards for financing municipal educational institutions from local budgets. Currently, the ability of educational institutions to attract funds by providing paid services, legal donations and individuals. Raising additional funds does not entail a reduction in the amount of funding from budgets at various levels. Territorial budgets provide funds for carrying out activities and maintaining institutions under their jurisdiction, and for the implementation of their own development programs. In cases where the same expenses are financed from different budgets, the term “multi-level financing” is used. If the sources of financial resources are not only budgetary allocations, but also extrabudgetary funds, the term “multi-channel financing” is used.

Figure 2. - Multi-channel financing of budgetary institutions Compiled by the author

A stable source of funds is the rental of premises owned by an educational institution, if this does not interfere with the educational process. Additional sources of financing include funds international organizations, transferred to institutions free of charge (in the form of charity), and for the implementation of international cooperation programs.

Currently, the system of private entrepreneurship in education reflects the public reaction to new directions of development of the state economy. The educational services market is designed to satisfy not only the state order, which is provided by budgetary allocations, but also the social order of various population groups and enterprises. The educational processes involve both the emerging class of entrepreneurs and representatives of various movements of national associations and religious communities. The desire to reform the education system in their own interests encourages them to open alternative non-state educational institutions and provide financial support to public ones. In turn and government agencies has the right to offer wide range educational services to the population on a paid basis. Attracting additional sources for education can be done in two ways:

Figure 3. - Extra-budgetary sources of funding Compiled by the author

The amount of allocations is primarily regulated by the volume of budget revenues at a particular level. The procedure for financial support of educational institutions is regulated by the Budget Code of the Russian Federation Budget Code of the Russian Federation dated July 31, 1998 No. 145-FZ (as amended and additionally dated December 26, 2014), section 3, chapter 10. It clearly defines the framework for applying financial cost standards and minimum budgetary provision standards. The detailing of budget expenditures by economic items is associated with the need to strengthen control on the part of funding and administrative bodies over their intended use. Determines the volume of budget allocations and distributes expenses government agency within the limits allocated from the budget for the calendar financial year.

General education boarding schools are created to assist families in raising children, developing their independent living skills, social protection and comprehensive development of their creative abilities. These institutions primarily accept children in need of state support, including children from large and low-income families, children under guardianship. The main objectives of educational institutions for orphans and children left without parental care are: creating favorable conditions, close to home, conducive to mental, emotional and physical development pupils, ensuring their medical, psychological and pedagogical rehabilitation and social adaptation; protection of the rights and interests of students. In accordance with individual characteristics children in the education system the following types of institutions can function: orphanage, orphanage - school, boarding school for orphans and children left without parental care, sanatorium orphanage, special (correctional) orphanages and boarding schools for orphans and children left without parental care with developmental disabilities. In these types of institutions, the maintenance and training of students is carried out on the basis of full state support.

When budget financing using appropriations, two methods are used:

· “Net budget” - funds in the financing process are allocated for a rather limited range of costs provided for by the budget;

· “gross budget” - used to finance organizations that are fully funded by the budget. Budget funds are provided for all types of expenses.

Education is financed using the “gross budget” method. Allocations are made for the maintenance of educational institutions, funds are allocated to pay for goods, work and services performed by individuals and legal entities under state and municipal contracts. Expenditures on education relate to expenses for social needs, which are determined on the basis of the principles of budget planning and are financed according to specific types of costs. The calculations of expenses of educational institutions are based on indicators of the institutions' performance that characterize the populations served (number of students, study groups, classes, number of pupils). This takes into account the operating time throughout the year. These indicators serve as estimates. Cash expenditure is calculated at a rate that ensures the functioning and development of educational institution. The basic principle of spending budget funds is their strict regulation for their intended purpose. An educational institution does not have the right to use funds for purposes that are not provided for in the budget. Cost estimates for educational institutions include:

· salary;

· accruals for wages;

· travel and other compensation payments to employees;

· payment for goods, works and services;

· major and current repairs;

· purchasing equipment and durable items.

The Russian education system is capable of competing with the education systems of advanced countries. At the same time, there is a need for broad public support for the ongoing educational policy, restoration of the responsibility and active role of the state in this area, deep and comprehensive modernization of education with the allocation of the necessary resources for this and the creation of mechanisms for their effective use.

Due to the fact that educational services are a socially significant benefit, it means that the state provides the costs for the production of worthy goods; goods are financed from the budget, the budget is formed from taxes, and not from the proceeds from the sale of these goods on the market. What is based on Art. 43 of the Constitution of the Russian Federation:

· everyone should be provided free of charge with pre-school education, general secondary education and primary vocational education;

Free secondary vocational education and higher vocational education should be provided to those who have completed the appropriate competitive selection on the announced terms.

Ideally, the education financing system should be based on these positions. Budgets remain the main sources of financing for educational institutions in a market economy. budget system RF:

· federal budget funds;

· funds from the budgets of the constituent entities of the Russian Federation;

· funds from local budgets.

Taking into account the indicated funding channels, we will clarify two main models based on the principles: the principle of “free” public education; the principle of “payment” - the role of the state is limited (citizens pay for the service).

The development of the system of financing educational institutions should be aimed at solving the following main problems:

· accessibility of education for various social strata of the population;

· implementation of structural changes in connection with the requirements of the labor market;

· improving the quality of educational services;

· financing the material and technical base of education for the purpose of its modernization.

Financial mechanism of the education system in general view can be represented as a system of targeted regulation of the processes of formation, distribution and use of financial resources of educational institutions within the framework of the specified elements (see Table).

Table - Financial mechanism of the education system Compiled by the author

Financing of educational institutions from the federal budget is carried out in accordance with the functional classification, in which the “Education” group includes the following expenses:

· preschool education young children and maintenance of preschool educational institutions;

· primary general, basic general, secondary general education;

· initial vocational training in secondary educational institutions, vocational technical schools, interschool educational centers, training and production workshops;

· education in educational institutions of secondary vocational education;

· expenses for higher professional education;

· professional retraining and training,

· youth policy and organization of health campaigns for children.

The main source of financing for educational institutions is currently budgetary allocations (from the federal, regional and local budgets), calculated on the basis of the established standard - the cost of training one student (pupil) per year for each type of educational institution.

The modernization of the financing system is based on the increasing role of extra-budgetary sources of financing for universities, formed through the provision of additional paid educational services and entrepreneurial activities.

Additional sources of financing for municipal educational institutions may include:

· paid additional educational services;

· entrepreneurial activity of a municipal educational institution;

· other activities of the municipal educational institution; tax benefits provided to municipal educational institutions engaged in business activities;

· sponsors' funds;

· voluntary donations from parents.

The types of additional sources of financing attracted by a municipal educational institution are established by the institution independently, but with mandatory compliance with the conditions established current legislation Russian Federation.

The solution to per capita financing is noteworthy. The decision is aimed at gaining financial and managerial independence for schools. But from the introduction new system Schools in big cities benefit from funding in Russia, and among them are those that were created a long time ago and have managed to gain a good reputation. In addition, the per capita standard is very different for different regions and even within one region is different for rural, township schools, schools in small towns and the regional center.

CHAPTER 2. ANALYSIS OF THE CURRENT STATE OF FINANCIAL SUPPORT AND PLANNING OF EXPENSES FOR EDUCATIONAL INSTITUTIONS

2.1 Current practice of planning and financing the expenses of educational institutions carried out at the expense of budgetary allocations

The effectiveness of cost-effective methods of managing the education system directly depends on the volume of its funding.

The material basis for fulfilling the state order for the implementation of educational programs is direct budget financing. Budget planning takes into account the following: political objectives, social and financial indicators, norms and standards; real technical and economic parameters of the work of educational institutions. The volume of budget financing is calculated by the founder, who uses the program-target method of budget planning for education expenses. This method includes, as a fundamental document, the development of an estimate through which the volume, target direction and quarterly distribution of budget allocations to cover the costs of an educational institution are determined. Duly approved higher authority management estimate is the only legitimate planning document for the use of budget funds.

In order to justify the regulatory financing of educational institutions, the development of minimum social standards plays an important role. They include: A unified tariff schedule for remuneration of public sector workers; capacity of classes and groups; natural nutrition standards for children and pupils in preschool institutions and boarding schools; estimated nutritional standards for schoolchildren; list of clothes and shoes issued to orphans, etc. Based Federal Law“On Education”, the financing of educational institutions is intended to be carried out in accordance with state (including departmental) and local funding standards. They are determined per student for each type, type and category of educational institution, becoming the basis for its cost estimate.

When developing cost estimates for various educational institutions, production indicators are used. For school institutions, production indicators are the number of children and groups in schools, the number of students in classes, and in boarding schools - the number of pupils, in vocational education institutions - admission of students (students) for free education, etc.

Financial planning uses not only production indicators at the beginning and end of the financial year, but also the average annual student population. Its size depends on admission, attrition during the training process and graduation of successfully completed students. The formula for determining average annual indicators for schools is as follows:

where V av is the average annual number of students (network of institutions); For 1 - the number of students at the beginning of the planned year (as of January 1); M 1 - the number of months with a rolling contingent at the beginning of the year (8 months); For 2 - the number of students for the planned year (as of September 1); M 2 - the number of months of operation of institutions with a new contingent at the end of the year (4 months); 12 is the number of months in a year.

Thus, the number of students at the beginning and for the planned year as a whole is initially calculated, determined by class groups. For example, the number of students on September 1 for grades 1 - 4 is determined:

U 2 = U I - II grade 01.01 + Admission to I grade - Graduation from grade 4.

The number of students in grades 5–9 and 10–11 is calculated similarly, but with some features.

The preparation of estimates for general education schools is carried out according to the methodology for calculating federal standards for budgetary financing of general education institutions.

Costs for secondary schools and education in general are divided into current (direct), consumed entirely during the year, and long-term (capital) expenses.

Direct costs that directly affect the cost of education per student per year include:

1) wage costs with accruals;

2) costs for office supplies, materials and items for current business purposes;

3) expenses for business trips and official travel;

4) transportation costs;

5) expenses for payment of communication services;

7) costs for the purchase of soft equipment and uniforms;

8) others running costs, i.e. educational expenses for practical training, purchase of materials for educational laboratory classes, various teaching aids, publication and purchase curricula And periodicals and other expenses.

Capital (long-term) expenses include: costs for the maintenance of buildings and structures, the purchase of expensive equipment, furniture, major and current repairs. This also includes social expenses: feeding students, transporting them to school, paying utility bills for rural school teachers, etc.

An important mechanism for budgetary financing of educational institutions is the standard value of the federal standard for budgetary financing. The federal standard for budget financing is the standard cost of implementing a state educational program during the year by type and type of educational institutions per student. The amount of the federal standard (hereinafter - FN bf) is the minimum cost required for the execution of budgets at all levels. When calculating it, the following expenses are not taken into account:

1) current (utilities, i.e.: heating, lighting, water supply, sewerage and others);

2) long-term (capital) expenses.

Their financing is in addition to the standard. The federal budget financing standard is as follows:

FN bf = FOT + FMO,

where FN bf is the federal standard for budget financing; Payroll - wages (tariff and above-tariff parts); payroll accruals; compensation payments for book publishing products; expenses for increasing grades and certification of teaching staff; FMO - educational expenses; office and business expenses; expenses for the purchase of soft equipment and uniforms; other expenses.

Payroll and educational institutions are classified according to the types and types of educational institutions.

At the same time, the amount of the budget financing standard is regulated by economic standards for payroll and financial support.

The ratios for payroll and financial support are established for the corresponding period at the federal budget level and are mandatory for regional and municipal budget levels.

This approach to calculating the need for financial resources on a normative basis for educational institutions is used at all levels of budget financing.

Thus, at the federal level, a Unified model is being approved for calculating federal standards for budget financing by type and type of educational institutions, state-guaranteed expenses for the implementation of educational programs.

The difference in the calculations of regional and municipal standards from federal ones is that the calculations of the former are based on a factual basis. The factual basis differs significantly from regulatory framework, inherent at the federal level, especially in rural areas.

At the same time, guarantees for the implementation of the state order for the implementation of the educational program are legislatively supported by financial support, the basis of which is the budgetary financing standard (hereinafter referred to as Nbf) of the educational institution. If the founder is not able to provide the financial, material and personnel needs of a general education institution, calculated on the basis of the Nbf, he does not have the right to demand from the latter the implementation of the state order for this educational program in full.

At the level of an educational institution, the Unified Model for determining the need for financial resources is applied for a specific educational institution. This calculation can be carried out by the founder or an educational institution if it has an accounting service.

Regardless of the body conducting the calculation, there is a unified approach to its implementation. The calculation of the budget funding standard per student occurs at the level of the educational institution and includes three stages.

First stage- preparation of initial data on secondary schools. It is associated with determining the number of students, standards for maximum class sizes, extended day groups and teaching rates as of January 1 of the planned year. In accordance with the Order of the Ministry of Education and Science of Russia dated August 30, 2013 N 1015 “On approval of the Procedure for organizing and implementing educational activities on basic general educational programs- educational programs of primary general, basic general and secondary general education"

The enrollment of classes and extended day groups of a general education institution is based on 25 students. Order of the Ministry of Education and Science of Russia dated August 30, 2013 N 1015 (as amended on May 28, 2014) “On approval of the Procedure for organizing and implementing educational activities in basic general education programs - educational programs of primary general, basic general and secondary general education” clause 15.18

If financial resources and other necessary conditions are available, the charter of a general education institution provides for the enrollment of classes and extended day groups with a smaller number of students. For example, when conducting practical classes in physics and chemistry, a standard class in a city secondary school can be divided into two groups.

The estimated number of teaching rates is calculated on the basis of the basic curriculum, approved by the same Order of the Ministry of Education and Science of Russia No. 1015 - 2013. The Order establishes the maximum permissible load for students during a five- and six-day school week. For example, when five day week the maximum number of hours per week is: in grades 1 - 3 - 22 hours, in grades 1 - 4 - 21.5, in grade 5 - 28, in grade 6 - 29, in grade 7 - 31, in grades 8 - 9 - 32, in grades 10 - 11 - 33 hours.

The practice of conducting the educational process of general education institutions shows that the number of teaching hours paid to teachers per week often exceeds those provided for in the basic curriculum. For example, in grades 4 - 11, an additional number of teaching hours in a foreign language is provided due to the need to divide the class into two groups. Therefore, when calculating the staffing level of a general education institution, the average number of teaching positions is determined on the basis of two teacher positions per class.

In addition to the standard number of teaching staff, one teacher rate can be introduced - per one extended day group, or 1.25 rates - per one extended day group consisting of six-year-old children.

After this, the remaining groups of staff numbers are calculated.

The standard number of employees in the first group “Administrative Personnel” is determined by type of position per class, taking into account the standard number of students in it. For example, the school director - one rate regardless of the number of classes, the head of the library - one rate - if there are 14 or more classes, and the deputy school director for administrative and economic work - one rate if there are 16 or more classes.

Educational and support staff includes the following number of rates by type of position: one librarian position in the presence of 34 classes, 0.5 counselor rate - from 8 to 11 classes and one rate - from 11 to 28 classes, etc.

For service personnel, the standard number of workers by position is as follows: a worker for complex repairs and maintenance of buildings - one rate for grades from 5 to 16, a cloakroom attendant - 0.5 rate for grades 3 to 6, and one rate for grades 7 to 16.

In addition to the standard number for this group of personnel, 0.5 of the cloakroom attendant rate may be introduced in the case of a general education institution working in the second and third shifts, or if there is an extended day group. Rates for storekeeper, auxiliary worker and cook are being introduced in those institutions where there are extended day groups and where food is prepared directly at school.

The total number of staff units for all groups of personnel is calculated not according to the estimated number of classes and extended day groups, but in accordance with the norm of 25 people per class.

Then the number of rates per student (student) for each group of personnel is determined. For example, the number of classes in a school is 10, the number of students in a school with a norm of 25 people in a class is 250, the number of staff positions depending on the number of classes is 37, including the following groups of personnel: administrative - 3, pedagogical - 20, educational auxiliary - 4, service - 10. Determine the number of rates per student by group of personnel.

For this purpose, the number of rates for each group of personnel is divided by the total number of students in the school:

for administrative personnel - 3: 250 = 0.012;

for teaching staff - 20: 250 = 0.08;

for educational and support staff - 4: 250 = 0.016;

for service personnel - 10: 250 = 0.04.

Second phase involves the calculation of funds for wages. It consists of a set of interrelated actions, including first calculating the wage fund for one rate for each group of personnel. The starting point for calculating the wage fund for each group is the average rank according to ETC.

The structure of the wage fund is being formed, and its tariff and above-tariff parts are calculated as a percentage for each group of personnel.

The tariff part of wages is regulated by the state depending on the complexity of the work, which is based on qualification factors - level of education and professional experience. The tariff part of wages for educational institutions is determined according to the tariff rates established qualification categories Unified tariff schedule. Tariff rates are adjusted for working conditions, operating hours of the educational institution and other payments of a permanent nature.

The above-tariff part of the salary includes incentive and stimulating additional payments and allowances, consisting of additional payments for performing additional functions (managing classrooms, class management, etc.); incentive payments (for quality, intensity and intensity of work, for saving financial resources, etc.).

The proportions of the tariff and above-tariff parts of wages depend on the nature and content of labor by category of workers, as shown in the table:

Ratio of tariff and above-tariff parts of wages for each group of workers (%)

The determination of the tariff part of wages by personnel groups is preceded by the calculation of allowances, calculated as a percentage of the basic rate (grade) and forming a new increased rate.

The calculation of the tariff part of wages in a specific educational institution for teaching staff includes payment for the actual number of teaching hours at an increased rate.

The above-tariff part of wages is determined on the basis of established percentages of the tariff and above-tariff parts for each group of personnel.

Wages per month per pay rate broken down by personnel groups are the basis for determining regional coefficients and northern allowances.

The total amount of earnings is increased by compensation payments for teaching staff in the amount of one minimum wage for the purchase of books, for increasing grades from 7th to 11th - depending on the increase in teaching experience, for certification of teaching staff - in the amount of 5% of the rate for administrative and teaching staff.

Third stage- the determination of the federal standard for budget financing is preceded by the calculation of funds per student.

The basis for calculating the financial fund of the bf is: the total wage fund per month per one rate for each group of personnel; standard number of rates per student for each group of personnel. These indicators are used to calculate the standard wage fund per month, per student.

To the standard wage fund are added wage accruals associated with the payment of the unified social tax. It includes contributions to state social insurance, the Pension Fund, and the Mandatory Medical Insurance Fund. The amount of this tax is determined by multiplying the total wage fund by the currently established standard of 35.8%.

The standard wage fund, as well as the accrual of the unified social tax, form the standard wage fund, which is a constant value, regardless of the established economic standard for the wage fund.

The calculation of the FN bf involves the establishment of an economic standard for the wage fund as a percentage of the total amount of expenses equal to 100%.

The basis of the economic standard for payroll is the analytical method, i.e. tracking over a long period and determining the average ratios between wage costs and other costs with the most complete satisfaction of the need for financial resources for all items of expenditure by type of educational institution.

The calculation of the economic standard for payroll is based on the existing average ratios between wage costs and other expenses over a long period. Moreover, the condition must be met - relatively complete satisfaction of the need for financial resources for all items of expenditure in the context of types of educational institutions.

From the data in the table below, it can be seen that when calculating the physical fund of the bf of general education institutions, the economic standard for the payroll is applied, equal to 45% of total amount expenses. The Material Support Fund (MSF), i.e. the remaining amount of expenses is equal to 55%.

Economic standards for payroll and financial education by types of educational institutions

Determining funds for the formation of a material support fund begins with the costs of purchasing supplies and materials for current economic purposes. Initially, food costs are calculated, the volume of which is determined taking into account the total number of pupils, students, the average number of days of attendance at institutions per year by one child, and the established daily food allowance.

In addition to food costs, this item includes the purchase of soft equipment, including the provision of kindergartens, kindergarten schools, boarding schools with bedding, special clothing kitchen workers, auxiliary workers, teachers in accordance with natural standards of provision and service life. This also includes expenses for equipping institutions with educational, medical, economic and technological equipment. The costs of purchasing sports uniforms in youth sports schools and costumes for concert performances in creative houses are calculated in a similar way.

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To fulfill the functions assigned to it, the state must have a certain amount of financial resources. In the process of distribution and redistribution of national income, part of it, used in value form, forms a fund of monetary resources of the state, intended to ensure expanded reproduction, meet the various needs of the population and other purposes.

The state concentrates this fund in its hands, which in turn is distributed into several target funds, including the fund for financial support of social infrastructure. This fund finances enterprises, organizations and institutions providing social, cultural and public services.

The economic basis for the creation of such a fund is, as stated above, national income created in the sphere of material production, distributed through accumulation and consumption funds. The part of the national income accumulation fund expressed in monetary form, which is intended for the growth of non-productive assets, is sent to the fund for financial support of social and living infrastructure. From the consumption fund comes the entire volume of public consumption funds and part of the wage fund for workers in material production, directed by the families of these workers to pay for socio-cultural and public services.

Thus, the formation of a fund for financial support of social infrastructure is based on both surplus and part of the necessary product.

Financial support for social infrastructure is a set of economic relations that arise in the process of formation, distribution, redistribution and use of a fund of financial resources allocated for the maintenance and development of social infrastructure.

The study of financial support for social infrastructure, from our point of view, should begin with an analysis of the distribution of the general fund of financial resources of the state in two main areas: financing expanded reproduction and financing activities related to meeting the socio-cultural and communal needs of the population. At the same time, the distribution of the state’s financial resources in two areas of using the fund for financial support of social and domestic infrastructure must be considered within the framework of distribution relations, bearing in mind the quantitative and qualitative aspects. The quantitative aspect is related to the volume of the fund of financial resources intended for the development and maintenance social and household infrastructure, quality - with the principles and distribution channels of this fund.

It must be borne in mind that the presence of a close connection between distribution and material production predetermines the connection between the development of productive forces and the distribution process.

The distribution of resources between production and non-production spheres is largely influenced by extensive and intensive paths of economic development.

Under the conditions of an extensive development path, the largest part of resources is directed to the production sector. It should be noted that in Russia, for many centuries, the economy mainly developed extensively.

At the same time, the overwhelming majority of investment resources were directed to the sphere of material production. This was caused by the need to accelerate the increase in production potential to overcome the country's economic backwardness. However, this forced measure led to disproportions in the development of material production and social infrastructure.

The long-term focus of most resources on expanding production and creating new jobs, on the one hand, and the slow (due to lack of resources) growth rates of social infrastructure on the other, is unjustified in the conditions of scientific and technological progress. Economic losses, not to mention social ones, due to poor infrastructure development can be significant.

Practice over the past decades has shown that new industrial engineering, not supported by socio-cultural and housing and communal construction, not only did not give the expected economic effect, but also led to losses due to staff turnover, undeveloped capacity, low capital productivity, etc. The negative consequences of insufficient development of social infrastructure, especially in areas of land development, have been repeatedly noted in the economic literature and in periodicals.

And vice versa, in the regions, in enterprises with a developed social infrastructure, there are no shortcomings listed above, and an economic and social effect has been achieved. All this indicates the need to increase the growth rate of funds allocated for social infrastructure by reducing the growth rate of resources allocated to the development of material production. But this change in resource distribution is associated with intensification.

One of the important features of the modern stage of economic development of the country is the need to transition to the intensification of the national economy. Economic intensification makes significant adjustments to distribution relations. With an increase in labor productivity in the sphere of material production, greater opportunities open up for the release of workers into the non-production sphere, for its steady development.

Thus, as labor intensifies in the sphere of material production, the need to increase the capacity of enterprises through their extensive development decreases. At the same time, the mass of surplus product is growing, both in general and per person working in a given area. This, in turn, makes it possible to increase the share of surplus product used for the development of the non-production sector.

According to the UN, in industrialized countries, where a high level of intensification of production has already been achieved, the share of capital investments in the non-productive sphere exceeds 50%.

The qualitative aspect of directing financial resources to social infrastructure is associated with the principles of distribution of the fund for financial support of social infrastructure and channels for bringing funds to consumers. The distribution of these resources also interacts with the development of production.

The development of productive forces is carried out both at the sectoral and territorial levels. Therefore, the distribution of the final results of production, surplus and necessary products - namely, they are the sources of financial support for social and living infrastructure - should be carried out in sectoral and territorial terms. This predetermines the use of two principles in the distribution of the fund for financial support of social and domestic infrastructure - departmental and territorial.

The departmental principle of distribution of financial resources is used to provide funds to enterprises within the framework of their decisions. production tasks and to provide their workers with the necessary volume of social services.

In accordance with the territorial principle, funds and social infrastructure are allocated to territories. nym authorities for the development of administrative territories. residential units, providing their residents with the services of enterprises and social infrastructure institutions.

The application of these principles in the economy predetermines the presence of two channels of financial support for social infrastructure: territorial - through territorial authorities, and also departmental - through enterprises. The use of these principles and channels for distributing funds varies and is determined by the tasks facing the country at individual stages of its development.

The application of the departmental principle of resource distribution and the departmental channel for financial support of social infrastructure is caused by the extensive development of the economy.

The extensive path is associated with new construction, the development of new territories and their arrangement. In these conditions, the most realistic opportunity to develop resources allocated for social infrastructure is to use the departmental channel, when resources are provided to departments endowed with the necessary construction capacity to create enterprises and institutions of social infrastructure along with production facilities. According to this principle, new enterprises were created with social services and amenities in established cities and all new settlements that arose in the post-revolutionary period. The social infrastructure in them was under departmental subordination and was financed through departmental channels. As a result, until 1993, approximately 60% of residential space, 30% of water supply and sewerage facilities, 20% of laundry facilities, and 28% of the total number of hotel beds were under departmental control.

To a certain extent, the departmental line of financing social infrastructure will also be used during intensive economic development, which is explained by specific features development of some sectors of the national economy. For example, the development of certain types of mineral resources is associated with a rotational and expeditionary method of work. Naturally, the infrastructure in these conditions can only be departmental. The need to attract labor resources in industries with specific or difficult working conditions requires providing workers special conditions life, which leads to the creation of departmental infrastructure.

The departmental channel of financial support for social infrastructure is also determined by the presence of several types of economic interests, including collective interest. It manifests itself not only in the form of the material needs of workers, but also in the needs of workers for the development of collective social infrastructure (children's institutions, medical facilities, etc.).

It should be noted that some types social services can be used more effectively at the workplace. This primarily applies to services related to vocational training and retraining of workers, preventive medical care at enterprises to prevent occupational diseases. Apparently, it is advisable to provide services to children in summer holiday camps on a departmental basis, since trade unions and enterprises take part in the financing of these facilities.

Thus, in the future, part of the financial support for social infrastructure will be carried out through a departmental channel.

At the same time, it should be noted that with an objective it is necessary! and the departmental path of infrastructure development and the departmental channel for its financing, this path has known disadvantages.

The allocation of national resources to ministries and departments leads to their dispersion. The creation, often in the same territory, of similar social infrastructure facilities subordinate to various departments makes it difficult to coordinate their functioning, which leads to ineffective use of the created facilities and obtaining the expected economic and social effect from the invested funds. All this causes an increased need for resources for the further development of social infrastructure.

From an economic and social point of view, the territorial principle of allocating resources for the development of social infrastructure and its financial support through territorial authorities is more acceptable. The population of all regions must be provided with the necessary social and living infrastructure, regardless of the presence of developed economic potential in them.

The territorial path of development of social infrastructure is more consistent with intensive methods of developing the national economy. Intensification is associated with a reduction in the volume of new construction and the requirement for better use of the existing economic potential.

Indeed, as new territories are developed and cities are saturated with industrial facilities, the need to create new jobs and expand departmental channels for financial support of social and living infrastructure decreases. In addition, in cities, as a rule, enterprises from more than one department develop. At the same time, each enterprise, creating its own social facilities, strengthens the parallelism in infrastructure development. All this necessitates her concentration. By this time, the material base of local authorities is strengthening and they are increasingly taking upon themselves the leadership of the development of the service sector in the territory under their jurisdiction. Enterprises are gradually beginning to transfer social infrastructure facilities to local authorities, which helps improve management and develop the infrastructure itself. Thus, the development of infrastructure is subject to general economic laws, according to which the development of productive forces proceeds in the direction of concentration and specialization of production, i.e. in the service sector there is also a process of concentration and specialization.

Based on these economic prerequisites, the management of social infrastructure should be concentrated to the maximum extent possible in a single center. This is the price of thunder in populated areas local authorities authorities.

Forms of organization of financial relations

Form (from English. form, shape – external outline) reflects the external order of organizing financial relations and, as an element of the financial mechanism, is expressed in the mandatory or voluntary procedure for the formation and use of financial resources of non-profit organizations.

Using the mandatory form, the financial resources of NPOs are spent, regardless of the organizational and legal form and type of economic activity. Any non-profit organization carries out activities regulated by its charter and aimed at providing public goods or socially significant goods and services. Deviation of a non-profit organization from the goals provided for by the charter leads to its liquidation.

A mandatory form of organizing financial relations mediates payments by non-profit organizations to the budgets of the budget system and state extra-budgetary funds. Budget allocations are also mandatory for individual NPOs.

In cases where the provision of financial resources depends on the preferences of donors (contributors), a voluntary form (donations, sponsorship fees, etc.) should be considered. The voluntary form of organizing financial relations is also typical for NPOs when making decisions on attracting and placing financial resources on the financial market, etc. As a rule, in the activities of non-profit organizations, voluntary and mandatory forms are combined.

Methods of formation and use of financial resources

The next element of the financial mechanism is methods of formation and use of financial resources represents ways to attract financial resources to organize the activities of NPOs. Through the use of various methods, a non-profit organization can purposefully influence the sources of formation and direction of use of financial resources, contributing to the achievement of the goals and objectives of financial policy.

In financial science there are four basic methods formation and use of financial resources: financial, credit, tax and insurance.

Lending method is associated with both the attraction and provision of funds on terms of urgency, payment and repayment. Thanks to the credit method of generating financial resources, a non-profit organization has the opportunity to attract them from the credit market.

At the same time, even if there is a lack of funds to fulfill the statutory goals non-profit organizations rarely attract credit resources. An important reason for the poor development of the credit method of generating financial resources for non-profit organizations is their inaccessibility due to high interest rates with which lenders try to compensate possible risks; reluctance of credit institutions themselves to provide loans.

For a non-profit organization, obtaining a loan is the exception rather than the rule. We can talk about the credit method of formation

financial resources of NPOs, provided that this is not prohibited by law (as, for example, in the case of government and budgetary institutions). It should be noted that the credit method of generating financial resources is used by non-profit organizations to a limited extent ( autonomous institutions have the right to receive a bank loan with significant reservations).

Example

Among the methods of formation and use of financial resources, credit is the least widespread.

More than half of non-profit organizations consider loans (69.4% of the surveyed NPOs), microloans (62.2), low-interest loans (64.3) and income from securities (57.1%) inaccessible.

Few NPOs can use existing financial resources to provide loans through microfinance organizations. Only non-profit organizations such as private institutions, foundations, autonomous non-profit organizations have the right to independently provide loans and carry out microfinance activities. Therefore, it is important to take into account that the main influence on the possibility of using the credit method in the formation of financial resources is exerted by the organizational and legal form of the NPO and the legislative restrictions and prohibitions imposed on it. Receiving interest as a result of using the financial resources of NPOs on the terms of repayment, urgency, and payment is practiced by a small number of such organizations.

Tax method formation and use of financial resources is associated with the fulfillment of tax obligations of NPOs to state authorities and local governments. For non-profit organizations in the field of generating financial resources, this method is not applicable, since it can only be used for the purpose of generating financial resources from federal, regional and local budgets. At the same time, the tax method is widely used in the practice of non-profit organizations when paying taxes and fees to the budgets of the budget system of the Russian Federation, thereby serving as a method of using financial resources.

At the same time, if in relation to the credit method there are some limitations for individual non-profit organizations depending on their organizational and legal forms, then the tax method of using financial resources is applied by all non-profit organizations without exception.

Insurance method provides for the formation of financial resources through the receipt of insurance contributions (premiums). This method is based on raising funds from policyholders (payers of insurance premiums) under conditions of closed distribution of damage to protect the property interests of individuals or legal entities. The insurance method is used by insurers and extra-budgetary funds of the Russian Federation.

In accordance with Art. 6 of the Law of the Russian Federation of November 27, 1992 No. 4015-1 “On the organization of insurance business in the Russian Federation”, insurers – these are insurance organizations and mutual insurance societies created in accordance with the legislation of the Russian Federation. Since mutual insurance companies are non-profit organizations, the insurance method of generating financial resources should also be considered as part of the elements of the financial mechanism of non-profit organizations.

The insurance method of using financial resources applies to any non-profit organization if it is the payer of the insurance premium when concluding voluntary and compulsory insurance contracts. It must be remembered that any non-profit organization is a payer of mandatory insurance payments to state extra-budgetary funds. Also, the insurance method can be used by any non-profit organization that is a beneficiary under a voluntary or compulsory insurance agreement, provided that an insured event has occurred. Thus, there are significant restrictions on the use of the insurance method in terms of the formation of financial resources of NPOs. In terms of the use of financial resources, the dependence of this method on the legal form and type of economic activity is not detected.

Practice issues

When studying the practices of financially sustainable NPOs, American researchers focused their attention on the largest organizations that reached and exceeded the annual mark of $50 million. Each of these organizations was found to have grown through the use of separate funding sources (often concentrating on a single source of funds) best suited to support specific types of work. In addition, each organization has developed highly professional internal competencies to purposefully attract funds from these sources.

The next method of generating and using financial resources is financial. Most of the financial resources of NPOs are attracted precisely through the financial method, which is used primarily on an irrevocable and free basis. This method is typical for non-profit organizations when attracting budget sources of funding in the form of subsidies, grants, budget investments, in the case of attracting voluntary property contributions and donations, as well as when accumulating regular and one-time revenues from the founders of the relevant organizational and legal forms of NPOs. If there are no restrictions in the charter and legislation, financial method used by NPOs when generating profits from income-generating activities. Without exception, all savings of NPOs are also formed through the use of the financial method.

Methods for generating financial resources for NPOs:

• 1) credit method. Accumulation of funds on terms of urgency, payment, repayment. Applied by NPOs subject to legislative restrictions (not applied by government institutions, associations (unions));
• 2) financial method. Formation of financial resources mainly on an irrevocable and free basis. It is used by NPOs when attracting funds from budgets of various levels and extra-budgetary funds, attracting income in the form of donations, sponsorship contributions, generating income from business activities, etc.;
• 3) insurance method. Formation of financial resources through the receipt of insurance premiums in conditions of closed distribution of damage. Used by mutual insurance companies;
• 4) tax method. Accumulation of funds based on forced withdrawal of part of income. NCO does not apply.

Methods of using financial resources of NPOs:

• 1) credit method. Providing funds on terms of urgency, payment, repayment. Applicable subject to legal restrictions (private institutions, foundations, non-profit partnerships and autonomous non-profit organizations, etc.);
• 2) financial method. The use of financial resources is primarily on an irrevocable and free basis. Applied by NPOs subject to legislative restrictions, includes the distribution of profits (consumer cooperative), expenses associated with business activities, sales of goods (services), non-operating expenses, etc.;
• 3) insurance method. Use of financial resources by paying insurance premiums. Any non-profit organization applies when paying insurance premiums to state extra-budgetary funds, when concluding compulsory and voluntary insurance contracts;
• 4) tax method. Providing funds for financial support of state activities in the form of tax payments. Any NPO applies.

Methods for quantitative determination of the parameters of a financial mechanism

Thanks to the method of quantitative determination of the parameters of the financial mechanism as an element of the financial mechanism, a non-profit organization can influence the volumes and types of financial resources that are directed to fulfill the main and entrepreneurial goals provided for in the charter.

This element of the financial mechanism makes it possible to determine such heterogeneous quantities as the volume of financial resources necessary to carry out the main and (or) income-generating activities; the procedure for calculating depreciation in relation to property involved in business activities, etc.

As a rule, methods of quantitative determination are regulated by official regulatory legal or constituent documents non-profit organization.

Ensuring everyone is connected constituent elements The financial mechanism, thanks to the consistent implementation of financial transactions, mediates the order of their organization in practice and contributes to the achievement of the goals of the financial policy of a non-profit organization. The basic elements of the financial mechanism and their relationships are presented in Fig. 5.2.

Rice. 5.2.

Using various elements of the financial mechanism, non-profit organizations strive to ensure the implementation of financial policy goals and the solution of its strategic and tactical tasks. At the same time, it must be remembered that adjustments to the elements of the financial mechanism occur by changing the relevant rules of financial law.

In general, the elements of the financial mechanism of NPOs are traditional, but their content includes a number of distinctive characteristics. A noticeable impact on the financial mechanism is exerted by the variety of financial relations, types of economic activities and organizational and legal forms of NPOs, which predetermine the characteristics of its individual elements.

This paragraph disclosed the structure of the financial mechanism, showed the interconnection of elements, but did not reflect the instruments that put the financial mechanism into action. A financial management system helps solve the problem of “launching” the financial mechanism. It is financial planning, operational management and control that form the quantitative and qualitative result of the combination various types financial resources, methods of their formation and use.

• Development of financial and economic sustainability of Russian NPOs. Analytic note. Social Information Agency. M., 2013.

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