Many people are engaged in this or that accumulation. So, some save their working days, so that later they get a big health vacation, others collect things, and then they take everything that has accumulated safely to the country, and still others prefer to accumulate money. In the article, we will take a closer look at the last hobby, which in the literary language is called "accumulation Money».
Concept definition
What is accumulation anyway? Translated from Latin, this word means "accumulation". In our case we are talking about the financial side of the issue, and, therefore, the accumulation of funds implies the accumulation of one's own or externally attracted funds in order to benefit by providing these financial assets to a person in need at a certain percentage.
In simple words, the accumulation of funds is good way increase capital. From the outside, everything seems quite simple, but in our time there is a problem of uniting persons who own free funds in the required amount and people who need them.
The accumulation of funds is important phenomenon in the economy of any state. Among the main functions that are performed by this process, the following should be indicated:
- Redistribution financial assets, support for businessmen and entrepreneurs. So, often representatives of medium and small businesses become borrowers of banks, as well as individual entrepreneurs. There are situations when initiative people have great ideas and promising projects are developed, but there is no finance for their implementation in practice. This is where they come in handy to help. accumulated funds, which are concentrated in one hand and can be directed to those persons who know how to make money not just lie in the bank, but work.
- Saving valuable time looking for borrowed money. Instead of concluding loan agreements with several holders of free funds, it is enough to apply to one.
- Making good profits. As you know, accumulation is beneficial both for those who accumulate money and for those who contribute available funds and for this he receives a previously agreed percentage. According to many financiers, assets should not be "dead" capital, but, on the contrary, always rotate in cash flows, since inflation manifests itself constantly and can cause the depreciation of "stale" cash in a chest of drawers.
Examples of accumulation of funds
Often, ordinary citizens and owners of small or medium-sized businesses have situations where they urgently need large sum, but there is none on hand. In this case, a citizen can apply to several borrowers and collect the necessary amount of money (for example, to buy a home or a car). The citizen will have to continue to pay interest within the agreed time frame to each of the borrowers. This, of course, is inconvenient and takes a lot of time. And if one of the borrowers pooled their free funds and others' funds and borrowed them for a needy citizen, then this would already be an accumulation of citizens' funds. Bank today at financial world plays a leading role in terms of the concentration of their own and other people's money and their subsequent use. Therefore, most of the population now prefers to apply for a loan to a banking organization rather than to a private person.
Bank accumulation
AT modern society the brightest representative, which is characterized by the accumulation of funds, is credit and commercial structures, in particular, banks. It is they who are engaged in the fact that they concentrate the free money of the population with the aim of their further redistribution and profit.
Few people know, but earlier banks used exclusively their own free funds. However, over time, the popularity of these organizations has grown significantly, and they began to borrow money from citizens. Thus appeared different kinds deposit deposits. Why do banks need such deposits? The accumulation of money is done in order to attract free financial resources population and their redistribution for a larger percentage. The whole point is that a person takes his funds to the bank and borrows a certain amount at interest (corresponding interest on the deposit). The bank, having received this money, borrows it for needy people at an even higher percentage, that is, it provides a loan.
According to statistics, today banks have in their arsenal about 20 percent own funds, while attracted account for 80%. This information confirms the fact that a banking organization is a kind of intermediary between persons who own free money and those who need it.
Methods of bank accumulation
One of the most common ways to attract free funds of the population and non-profit organizations are contributions. To attract as much money as possible banking structures use such forms of savings as: bonus, pension, youth, winning, etc. In some countries, in addition to the interest received from the deposit, the population is provided Additional services(free postal orders telegraph, trade services, etc.). For example, in the United States among term deposits first place is occupied savings deposits population.
Features of the activities of banks
The work of a banking organization for the accumulation of funds has a number of features:
- the bank directs the accumulated funds to solve other people's problems (needs);
- the accumulated funds by right of ownership still belong to the one who brought them to the bank;
- activities involving the accumulation and redistribution of funds must be confirmed on paper - a license;
- own free funds make up only a small part of the total capital of the bank;
- the accumulation of free cash is the most important function of a financial institution.
Pluses of accumulation
Consider what is good savings for citizens and the state as a whole. The accumulation of citizens' funds allows the holders of free money themselves to profit from them. In addition, accumulation helps to develop small and medium business replenish the state treasury, and at the same time raise the standard of living of the population. As for the replenishment of the state budget, not the last role is played by state banks, which act as guarantors of the preservation of deposits of citizens. Often people, choosing between private commercial organizations and state ones, opt for the latter, since the level of trust here is much higher. Commercial structures, in turn, attract the population with higher interest rates on deposits and lower - on loans.
Taxes are used by everyone market states as a method of direct influence on budgetary relations and indirect (through a system of benefits and sanctions) impact on producers of goods, works and services. Through taxes, a relative balance of social needs and the resources necessary to satisfy them is achieved; through taxes, rational use is ensured. natural resources, in particular, by imposing fines and other restrictions on the spread of hazardous industries.
From these positions, taxes perform four important functions, each of which implements one or another practical purpose of taxes.
The fiscal function (from the word "fisk" - treasury, storehouse of money or the totality of the financial resources of the state) ensures the redistribution of part of the financial resources of society in favor of the state. This function is manifested through the formation of income through the accumulation of funds in the budget and extra-budgetary funds. Spending budget funds produced for social services and household needs, support foreign policy and security, administrative and management costs and payments on public debt.
The redistribution of funds with the help of the fiscal function, on the one hand, should ensure the implementation government programs on the other - not to disrupt the normal course of reproduction. Due to the fiscal function of taxes, a redistribution of a part of GDP is achieved in the territorial, sectoral and social contexts.
The social function is implemented through a system of special measures aimed at state intervention in the course of the economic and social development society, in particular through unequal taxation of different amounts of income. This function also allows you to redistribute income between different categories of the population. Examples of the implementation of the distributive (social) function are: a progressive scale of taxation of profits and egg income, tax rebates, excises on luxury goods.
The regulatory function of taxes is manifested through a system of special measures in the field of taxation aimed at state intervention in economic processes. This function involves the impact of taxes on various aspects of social development, including: the investment process; sweetness or growth of production, as well as its structure; scientific and technical progress; distribution and redistribution of national income; supply and demand; the volume of income and savings of the population, etc. The essence of the regulatory function of social reproduction is that taxes are levied on resources directed to consumption, and resources directed to the accumulation of production assets are exempted from taxation. Therefore, there are three components of the regulatory function:
The stimulating sub-function is manifested through a system of benefits and exemptions, for example, for agricultural producers;
The destimulating subfunction has the goal of limiting the development of gambling business, raise customs duties, suspend the export of capital from the country
The reproductive subfunction is designed to accumulate funds for the restoration of used resources
Tax regulation bears the burden and control properties. The regulatory tax function is manifested in practice not only in the form of benefits, but also in the form of sanctions. Tax sanctions are a manifestation of the control function of taxes, because the redistribution of financial resources is inseparable from the control over the qualitative and quantitative parameters of taxation.
The control function allows the state to monitor the timeliness and completeness of budget receipts tax payments, compare their value with the need for financial resources. Through this function, the need for reform is determined tax system and budget policy.
These functions of the tax are closely related. The rationality of the current legislation is also determined by the I degree of relative equilibrium tax functions. However, in practice, the fiscal function of the tax is always real, while the regulatory function may exist nominally or be deformed. Therefore the search optimal ratio tax functions are carried out continuously, because their relative balance allows you to form a budget without infringing on economic interests taxpayers.
Among the most powerful instruments of state influence on the economy are financial management on the budgetary basis called budgetary regulation. Budgets of different levels form the core financial institutions government controlled economy. Role budget system state is so large that it is legitimate to consider it an independent institution of state management of the economy along with the banking system.
State budgeting as the main manifestation financial planning represents the process of formation and use of the budget - centralized money fund to fund a wide range of public goods, government programs. State budgeting forms the upper part of the budgeting pyramid, covering budgetary processes at the federal, regional, and municipal levels.
The budget, understood in a simplified way as a "money bag", a purse for placing, storing, extracting money, in reality is a more complex and multifaceted concept. On the one hand, it is a set, a mass of financial resources, funds that any economic entity has, be it a state, territory, organization, family. On the other hand, the budget is the ratio between income and expenses. economic entity, the balance of his funds, characterizing the correspondence of their receipts and expenditures over a certain period, most often one year. On the third hand, the budget reflects financial behavior, financial policy the owner of funds, his ability to balance income and expenses, allocate financial resources.
Budgetary activity at the state level, which, in fact, is called state budgeting, is one of the leading links in the state management of the economy, reflects not only the financial, but also the socio-economic policy of the state as a whole. Although the state budget accumulates only state funds received and spent during one year or another budget period, it affects the movement of financial resources, cash flows, and thus on socio-economic processes in general. They are connected with the state budget, inflation, public debt, state socio-economic programs, financing depend on it. budget organizations, social benefits and payments.
Budgeting as a form of public administration includes:
- - setting scope and structure cash income state, sources of income during the budget period;
- - formation of the structure and volumes, addressing the state's cash expenditures during the budget period;
- - Achievement of a certain level of balance between monetary revenues and expenditures of the state for the budget period;
- - allocation of priority areas for spending state funds, which must be guaranteed, secured (protected articles of the state budget);
- - linking budgets with the main directions of the state's economic and social policy;
- - creation of state reserves, cash reserves and regulation of internal and external public debt.
Thus, representing in formal perception the legislatively approving painting government revenue and spending for a certain period of time, the state budget is at the same time financial basis state management of the economy. In terms of content, the state budget is a way of forming, distributing and using centralized financial resources of the state in order to finance the state (budgetary) sector of the economy, social sphere and servicing the public debt.
AT centralized economy the budget is entirely subordinate to the state economic plan, follows from it, and does not have any important independent significance. This approach stems from the dominant tendency in the planned-administrative economy to give the dominant role to material factors and the secondary one to financial ones.
In countries with a market economy, the preparation, approval, analysis of the execution of state annual budgets given great attention. The budgets themselves at the state level and the level of territorial units serve as the leading, determining form of financial planning.
Of fundamental importance is the fact that most developed countries a democratic procedure for adopting budgets at the national and municipal levels has been established and is being observed. Budgets in parliaments and their commissions are worked out in the most detailed way, for all income and expenditure items, even for individual objects. As a result of the reforms, budgets in Russia have become the subject of consideration and approval by the legislative bodies. But having approved the budget, often belatedly, unfortunately, they do not always remember about it. It happens that the authorities make decisions that destroy the approved budget.
Of great importance for maintaining the stability of the economy, preventing crisis situations have control over financial flows, timely adjustment of income and expenditure items of the budget. Naturally, real financial ratios different from those planned in the projects and plans. Usually cash expenses higher than expected, and revenues are lower than expected. Hence, there is a need to adjust budgets, use reserves in order to direct economic processes in the right direction, to coordinate them with financial capabilities.
The budgetary and regulatory function of the state in countries with market system management is quite high and tends to increase. So the budget system is one of the leading links in the state management of the economy. With the help of budgets, the state has a regulatory impact on producers, and through them on the market for goods and services, capital, and labor.
The set of budgets used in the country is called the budget system. In countries with federal state structure such a system usually consists of three levels of budgets:
- 1) the federal budget, in which the budgetary resources necessary for the implementation of expenditures of a nationwide nature are concentrated. Through this budget, the process of distribution and redistribution of the national income between the various subjects of the Federation also takes place;
- 2) budgets of subjects of the federation ( regional budgets), in which budgetary financial resources are concentrated major regions members of the Federation;
- 3) local (municipal) budgets, consisting of financial resources of administrative-territorial formations in the form of cities, districts, towns, settlements.
Towards a three-tier budget system covering federal, sub-federal and local budgets, adjoin the budgets of economic entities (legal entities) and family budgets. The budget of an economic entity is known as balance sheet, it compares the income and expenses of an enterprise, company, firm for a certain period of time. The family budget is a table of income and expenses of the family for a month or a year. Accounting financial balances income and expenses of the organization are compiled in without fail, while the compilation family budget- voluntary business of each family.
General structure of the budget system Russian Federation shown in Figure 5 below. real structure budget system is somewhat more complicated than the simplest three-level representation. Each of the first two levels of this system is presented in two forms: consolidated and unitary. The consolidated budget, unlike the unitary budget, includes, covers both the budget of a given level (federal, subjects of the Federation), and budgets of a lower level.
Scheme 5 Structure of the budget system of the Russian Federation
The budget system of Russia includes the state budget in the form federal budget and budgets of the constituent entities of the Federation (including the budgets of the republics that are part of the Russian Federation; regional and regional budgets; city budgets of Moscow and St. Petersburg) and local budgets of cities, districts, towns and other settlements.
The budget system of the Russian Federation is based on legislative basis in the form of budget legislation. General principles budget legislation, the legal basis for the functioning of the budget system, the flow of budget processes is established by the Budget Code of the Russian Federation, adopted in 1998. The Code determines the legal status of participants in the budget process, legal framework the procedure and conditions for bringing to responsibility for violation of budget legislation.
Let us characterize the basic principles of the construction and functioning of the budget system and the state budget, as its defining part, enshrined in Budget Code Russia.
The principle of the unity of the budget system means unity legal framework, uniformity of budget documentation and classification, a single procedure for constructing the revenue and expenditure parts of budgets of all levels, their consistency:
The principle of independence of budgets means the right to independently draw up and maintain budgets by legislative and executive authorities at each level;
The principle of balance means achieving compliance with budget revenues and expenditures;
The principle of publicity (openness) requires the mandatory publication in the open press of approved budgets and reports on their implementation, openness to society and the media of the procedures for considering and adopting budgets;
The principle of targeting and targeted nature of budget funds means that such funds are allocated to specific recipients and directed to finance specific goals.
In real practice of state budgeting, not all of these principles are fully observed. This is evidenced at least by the very fact that, along with the state budget, off-budget funds, closeness of individual items of expenditure of budgetary funds, incomplete independence of budgets of lower levels. The state budget in my own way economic essence reflects monetary relations, which are formed by the state with legal entities and the population and consist in the redistribution of national income in connection with education and the use of funds to finance the economy, implement social policy, develop science, culture, education, ensure the defense of the country and govern the state.
Through transfers sent from the federal budget to the budgets of the constituent entities of the Federation and further to the municipal budgets, federal budgetary relations are formed in the economic aspect.
In the transition to an economy based on market relations, measures are being taken to reduce budget subsidies to obviously unprofitable and low-profit state and not state enterprises, the rejection of those applied in Soviet economy methods of universal economic paternalism. Budget appropriations are mainly directed to the implementation of state programs, financing the actual public spending.
In cases where the available revenues are not sufficient to meet the necessary expenditures, there is a budget deficit. The budget deficit is the excess of the expenditure part of the budget over the income. With a budget deficit, the state does not have enough funds for the normal performance of its functions and has to resort to internal and external loans (as sources of budget revenues), primarily from organizations credit system, which negatively affects the stability of all monetary circulation and is the main cause of inflation, financial crises.
If a temporary budget deficit arises, there are prospects for overcoming it and it does not constitute a large share in relation to the gross domestic product, it should not be considered an exceptional event. But in cases where the budget deficit is deep, arises as a result of extraordinary circumstances and reflects crisis phenomena in the economy - its collapse, inefficiency financial system- then, of course, this phenomenon causes great damage to the entire economy and it is necessary to take drastic measures to overcome the significant gap between expenditures and available incomes. Usually, a budget deficit of up to 10% of the amount of revenues is considered acceptable, while a deficit of more than 20% is critical.
The main reasons for the significant budget deficit that emerged in the first phase of the transition to market economy in Russia is low production efficiency, significant social spending, non-payment of taxes to the budget, irrationality of the structure budget spending, inefficient budgetary mechanisms, as well as the rupture of economic ties due to the collapse of a single union state. As a result, in the mid-1990s Russia's state budget deficit reached the level of 20-25% of revenues and exceeded 5% of GDP.
At the beginning of the first decade of the XXI century. The Russian state managed to break the trend of deficit state budgeting and master the preparation of surplus, break-even budgets.
To reduce the budget deficit, it is necessary to stimulate in every possible way the inflow of revenues from all industries and all spheres economic activity and at the same time reduce government spending. In order to cover the budget deficit, various forms can be used. state loan, both internal and external. But if one resorts to excessive use of credit Central Bank when the latter has no other resources for lending, except for an increase in the issuance of depreciating money, then such a measure will only lead to an increase in inflation. The use of funds received from the population, enterprises, banks as a loan through the sale of government bonds, can create a vicious circle, increasing the already large deficit in bond redemption and interest payments. By resorting to such loans, the state accumulates its debt, called the public debt. State debt consists of two components: less dangerous domestic debt which is easier to negotiate with its domestic creditors to repay or restructure, and more burdensome external debt, the maintenance of which must be agreed with foreign creditors. Overcoming the budget deficit should primarily be based on the development of production, ensuring financial stability all sectors of the economy and enterprises of all forms of ownership, to enhance entrepreneurship.
The preparation of the budget, its discussion, approval, use of budgetary funds, consideration of the results of budgetary activities is a single budgetary process. The entire budget process is regulated by law, which provides for the procedure for drawing up, reviewing, approving and executing the budget. In this process important place occupies budgetary regulation, which means the redistribution of monetary and financial resources between different budgets.
In accordance with the law, the president must in good time, long before the start fiscal year make a decision to start work on drafting the budget, draw up a budget message to parliament. The draft federal budget is drawn up by the Government of the Russian Federation 10 months before the start of the next budget year. The government is preparing, on the basis of preliminary budget materials, a draft law “On the federal budget for next year”and submits it to the State Duma, where the draft is considered in four readings.
When developing a budget for another year a forecast of the socio-economic development of the country is used, a consolidated balance of financial resources is drawn up, and the main directions of budget policy are determined. All this gives grounds to calculate the target figures for the next year. In the Russian Federation, the fiscal year begins on January 1 and ends on December 31. When the budget is approved State Duma and the Federation Council, it is submitted to the President of the Russian Federation for signing and promulgation.
Control over the state and progress of the implementation of the state budget is carried out by the Chamber of Control and Accounts under the Parliament, which, theoretically, in its activities does not depend on either the Parliament or the presidential apparatus.
Today in Russia the mechanism of the state budget is aimed at financing the restructuring of the economy; building up modernization and scientific and technical potential; acceleration of social development and social security of the population. Through spending and taxes, the state budget of the Russian Federation acts as an important tool for regulating and stimulating the economy and investment.
The state budget- the form of formation and expenditure of a fund of funds sufficient for the financial support of the tasks and functions of the state and local government; an estimate of income and expenditure for a certain period of time, compiled with an indication of the sources of receipt of state revenues and the direction of expenditure of funds.
The state budget is compiled by the government and approved by the highest legislative bodies.
The budget system of the Russian Federation (RF) consists of three levels:
- Federal budget and budgets of state off-budget funds;
- Budgets of subjects of the Russian Federation and budgets of territorial state funds;
- local budgets.
The consolidated budget of the Russian Federation draws up budgets consolidated budgets subjects of the Russian Federation. Consolidation of budgets implies a combination of individual items and the exclusion of mutual transactions and does not involve simple arithmetic addition.
Budget revenues- funds received in a gratuitous and irrevocable manner in accordance with the budgetary and tax legislation at the disposal of public authorities.
Budget expenditures- money for financial security tasks and functions of the state and local self-government.
The sources of local self-government are divided into:
- Internal sources - loans received from credit institutions in national currency; government loans carried out by issuing valuable papers on behalf of the Russian Federation, a constituent entity of the Russian Federation and municipality; payments and repayment of the principal amount of debt on received and used loans, on state and municipal papers; budgetary loans and credits; proceeds from the sale of property; the excess of income from expenditures on state stocks and reserves; change in balances of funds on accounts for accounting for budget funds.
- External sources - government loans carried out in foreign currency by issuing securities on behalf of the Russian Federation; loans from foreign states, banks and firms, international financial institutions attracted by the Russian Federation and its subjects.
The main state revenues are tax revenues and non-tax payments, as well as state revenues from the issuance and placement of government local securities and revenues from the privatization of state property.
In case of excess, the excess of the expenditure part of the state budget over its revenue side a state budget deficit is formed, which is one of the factors of the inflationary process and an indicator of the crisis compilation public finance. If a revenue side budget exceeds its expenditure part, there is surplus budget.
The main items of federal budget revenue are:
- value added tax;
- income tax;
- excises;
- customs fees and duties;
- non-tax revenues.
The main items of expenditure of the federal budget:
- servicing the public debt;
- for national defense;
- to the national sphere;
- to the social sphere;
- financial assistance from other levels.
The budget surplus is a fairly new phenomenon for the Russian Federation and has persisted for several years. There are serious discussions among scientists-economists about the expediency of a state budget surplus in the presence of social problems.
Causes of the state budget deficit:
- exceeding the obligations of the state to society over its capabilities;
- the state performs functions incompatible with it;
An important indicator of the ratio of the state budget deficit, if it ranges from 1 - 3 to 5% - the state budget is normal, if it is more than 10% it can lead to hyperinflation.
Three factors influence the preparation of the state budget and the size of its deficit:
- long-term trends in tax revenues in government spending;
- stage business cycle in the country;
- current state policy.
The main ways of the financial deficit of the state budget:
- credit and money emission;
- issue of loans;
- increase in tax revenues.
Credit emission is associated with the entry into circulation credit money. Credit money was divorced on the basis of the function of money as a means of payment. Previously, IOUs were drawn up, which later turned into promissory notes. Then the banks began to issue their debentures- banknotes. Then there were settlement and payment documents and electronic money.
The main purpose of the monetary issue is to meet the needs cash flow the necessary amount of means of payment in the form of balances on bank accounts.
Credit money is “full-fledged” if its quantity grows along with the growth of economic turnover. The issue of credit money in excess of the needs of economic turnover leads to inflation. This is especially true for government short-term liabilities.
Government loans – credit relations between the state and individuals or legal entities, as a result of which the state receives a certain amount of money for set time for the agreed fee.
Loans are divided into loans issued by the central government and loans issued by local governments.
By location, government loans are divided into internal and external. Domestic loans are issued in national currency and placed within the country. An external loan is concluded in a foreign money market in national or foreign currency.
By maturity, current, short-term, medium-term, long-term and perpetual government loans are distinguished. Current loans are issued for a period of three months to a year, short-term from 1 to 2-3 years, medium-term from 2-3 to 10 years, long-term from 5-10 to 40-50 years.
The most common form of government current debt is treasury bills, issued for a period of 91 days to cover the cash cover of the budget deficit. Issue and redemption of treasury bills is carried out by issuing banks.
According to the placement method, loans are divided into voluntary and compulsory. Compulsory loans are issued in wartime. State loans, credits, guarantees are usually voluntary transactions. There are bonded and non-bonded government loans.
Bond loans - internal loans placed on the loan capital market and issued in bonds.
Non-bond loans- government loans from savings banks and external intergovernmental loans are not issued by bonds.
The increase in tax revenue is carried out through the main functions.
Fiscal function - with the help of this function, the financial resources of the state are formed and mobilized for the implementation of general state or targeted state programs.
The regulatory function is expressed in the use of taxes by the state to influence the process of social production.
The stimulating function is implemented through the system of the tax mechanism, as well as the benefits provided (non-taxable minimum, exemption from taxation of certain elements of the object, exemption from taxes individuals or categories of taxpayers, reduction tax rates).
The destimulating function is aimed at establishing through tax burden obstacles to the development of any processes (introduction of increased customs duties).
The reproduction function is designed to accumulate funds for the restoration of used resources (tax on the reproduction of the mineral resource base).
The administrative (social) function consists in the redistribution of social income among different categories of the population.
The control function is related to the organization of taxation and consists in the fact that the state exercises control over the correctness and timeliness of tax payments and has the right to receive information from taxpayers that allows assessing the movement of the most important financial provisions.
The incentive function is associated with such an order of taxation, which reflects the state's recognition of the special merits of certain categories of citizens to the state.
Also include the following ways to increase taxes in the budget:
- expansion of the circle of taxpayers;
- an increase in the number of those objects from which indirect taxes are levied;
- increase in tax rates for both direct and indirect taxation.
Income to the budget- this is a part of the centralized financial resources of the state, necessary for the performance of state functions, which provide funds that come free of charge and irrevocably. They also form various funds, for example, the health insurance fund.
The main material source of budget revenues is national income. Its growth provides a constant increase in the volume of state income and state budget revenues. A significant part of state revenues is represented by various forms of ownership. Also, the state accumulates in its revenues to meet national needs and part of the income of citizens.
The basis of revenues to the budget are payments mobilized in the form of taxes and fees.
Budget revenues are divided into separate elements:
- tax and non-tax revenues;
- receipts from fixed capital;
- receipt of transfers.
Proceeds from sale of fixed capital included:
- from the sale of state property;
- from the sale of goods from the state material reserve;
- from the sale of land;
- from the sale of intangible assets.
Transfers are also divided into:
- general transfers;
- targeted current transfers;
- targeted transfers for development.
General transfers are budget subventions and budget withdrawals. Budget subventions are transfers that are transferred from higher budgets to lower budgets, and budget withdrawals are transfers from lower to higher budgets.
Targeted transfers are transferred for specific purposes and not for the intended purpose.
Transfers- this is a transfer, the movement of funds from other economic objects from one country to another.
Classification of state revenues.
The composition and especially the structure of state budget revenues in each specific case are strictly individual, depending on the nature, type of state, time, period, and characteristics of socio-economic development.
On a socio-economic basis – revenues from: state-owned enterprises and organizations:
- municipal enterprises and organizations, non-governmental organizations and enterprises;
- joint ventures, foreign enterprises and organizations operating on the territory of the Russian Federation;
- citizens.
On a territorial basis:
- federal;
- regional;
- local.
According to the method of mobilization- state and municipal revenue subdivided into mandatory and voluntary revenues, while the majority of budget revenues are classified as mandatory, they are irrevocable and gratuitous.
By form of education:
- tax;
- Non-tax (for example, fines).
By recipient of income:
- Russian Federation;
- Subjects of the Russian Federation;
- municipalities.
Report on the topic “State budget” updated: January 8, 2019 by: Scientific Articles.Ru
Hello! In this article we will talk about the accumulation of funds.
Today you will learn:
- Interpretation of the term "accumulation";
- What are the functions of accumulation.
What is accumulation
We are all hoarding. Someone collects unnecessary things and takes them to the country, someone saves working days to get a long vacation, and someone saves money. Let's talk about the latter.
Banks need deposits to attract citizens' funds with a view to their further redistribution for a higher percentage.
After all, in fact, when you take your free funds to the bank, you give the bank a loan at a certain percentage, the interest on the deposit. The bank then lends these funds to those in need in order to earn interest on the loan.
On the this moment banking organizations have in their capital no more than 20% of their own funds, 80% are borrowed.
Thus, banks and banking organizations are some kind of intermediaries between citizens who have temporarily free funds and those who need them.
The Bank unites such subjects of the economy in time (that is, it provides a loan when it is needed and for certain period), by quantity (provides the amount that is needed at a time) and by place (no need to look for borrowers and lenders, everything is in one place).
Banking activities for the accumulation of funds have several features:
- The Bank directs the accumulated funds to meet other people's needs and requirements;
- Ownership of the accumulated funds remains with those who deposited them in the bank, that is, with depositors;
- Accumulation and redistribution activities borrowed money requires a license;
- The bank's own free cash occupies a relatively small share in its capital;
- The activity of accumulating temporarily free funds is one of the most important functions of the bank.
Accumulation functions
And, finally, let's think about why the activity of accumulating temporarily free funds is important for society and the state.
The first function is reallocation of funds, support for small and medium businesses. Often, owners of small and medium-sized businesses become bank borrowers.
In addition, the development of small and medium-sized businesses allows the development of the country's economy as a whole and makes a significant contribution to the state budget.
The second function is reducing the cost of finding borrowed funds. In the laptop example, citizen “A” would have to go around several people, conclude several contracts in order to receive a sufficient amount. Accumulation avoids paperwork.
The third function is profit from temporarily free cash. As you know, money should work.
Accumulation is the activity of getting money from money. At the same time, profit is received not only by those who accumulate funds, but also by those who contribute their free funds and receive interest for them. Remember.
Thus, the accumulation of funds allows you to redistribute funds, develop small and medium-sized businesses in the country, replenish the state budget and improve the standard of living of the population.
