Aval
A bill of exchange guarantee to which the bill of exchange law applies. This guarantee means a guarantee of full or partial payment of the draft if the debtor has not fulfilled his obligations on time. Aval is given on the front side of the bill and is expressed by the words: "Consider as aval" or any other similar phrase and signed by the avalist. Aval is given for any person responsible for the bill, so the avalist must indicate for whom he gives guarantee. In the absence of such an indication, the aval is considered issued for the drawer, i.e. not for the debtor, but for the creditor. The avalist and the person for whom he is responsible are jointly and severally liable. Having paid the bill, the avalist acquires the right to claim back against the one for whom he issued the guarantee, as well as against those who are obliged to this person.
Prepaid expense
The amount of money issued against future payments for material assets, work performed and services rendered.
advice
In banking, commercial, accounting practice - a notice sent by one counterparty to another about changes in the state of mutual settlements or about transferring money, sending goods. The advice note, as a document, has a legal character.
Assets
Property of enterprises, which includes fixed assets, other long-term investments (including intangible assets), working capital, financial assets.
Acceptance
The consent of the obligated person to pay the payment request and thus make the settlements stipulated by the contract with the product supplier. The acceptance form of payment involves the presentation for payment for the supplied products of a payment request issued by the supplier of goods.
excise tax
Indirect tax included in the price of the goods and paid by the buyer. The law of the Russian Federation establishes the procedure for imposing excises on sold wine and vodka products, ethyl alcohol and food raw materials (except for those sold for the production of alcoholic beverages and wine products, beer, tobacco products, tires, cars, trucks with a carrying capacity of up to 1.25 tons, jewelry, diamonds, crystal products, carpets and rugs, fur products, as well as clothes made of genuine leather).
Stock
Securities issued by joint-stock companies and indicating the share of the owner (holder) in the capital of this company, giving their owner the right to receive profit in the form of a dividend, and also, depending on the type, capable of giving the right to vote at a general meeting of shareholders (simple nominal) . This type of equity securities is not issued by government bodies, they are issued only by industrial, commercial and financial corporations. The price at which a share is sold in the market is called the share price.
Audit activity
Activities of independent non-departmental financial control. Audit (independent financial control) is carried out by specialized audit firms and services. Auditing firms provide control and consulting services to all enterprises and organizations on a paid basis. Audit firms are independent organizations designed to help improve the quality of control, its objectivity.
Correspondent banks
Banks that, on the basis of a correspondent agreement, carry out each other's instructions for payments and settlements through specially opened accounts or through accounts of correspondent banks in a third bank.
bank guarantee
A written obligation given by a bank or other credit institution, or an insurance organization (guarantor) at the request of another person (principal), to pay the principal's creditor (beneficiary) in accordance with the terms of the obligation given by the guarantor, a sum of money upon presentation by the beneficiary of a written demand for its payment. A bank guarantee ensures the proper performance by the principal of his obligation to the beneficiary (main obligation). For the issuance of a bank guarantee, the principal pays a fee to the guarantor. A bank guarantee shall enter into force from the date of its issuance, unless otherwise provided for in the guarantee. Provided bank guarantee The obligation of the guarantor to the beneficiary does not depend in the relations between them on the main obligation for the performance of which it was issued, even if the guarantee contains a reference to this obligation.
Bank transfer
An instruction from one person (transferor) to the bank to transfer a certain amount in favor of another person (transfer recipient). The bank that has accepted the transfer order executes it through its correspondent.
Bankruptcy
The inability of the debtor to satisfy the claims of creditors for payment for goods (works, services), including the inability to ensure mandatory payments to the budget and extra-budgetary funds.
barter deal
Non-currency, but valued and balanced exchange of goods, drawn up by a single agreement (contract).
Cashless payments
Settlements between organizations made by bank transfer of the amount from the account of the debtor organization to the account of the creditor organization according to settlement documents in a cashless manner. Payments can be made with the consent (acceptance) of the payer and on his behalf.
commodity exchange
Commercial enterprise, regularly functioning market of homogeneous goods with certain characteristics.
stock exchange
An organized and regularly functioning market for the purchase and sale of securities. The main functions of the stock exchange are the mobilization of temporarily free funds through the sale of securities and the establishment of the market value of securities.
Budget
The form of formation and spending of the fund of funds intended for financial support of the tasks and functions of the state and local self-government; an economic category represented by monetary relations arising between the state and legal entities and individuals regarding the redistribution of national income in connection with the formation and use of the country's budget fund, intended to finance the national economy, socio-cultural needs, defense needs and public administration.
Consolidated budget
A set of budgets for all levels of the budget system of the Russian Federation in the relevant territory.
budget deficit
The excess of budget expenditures over its revenues.
Budget income
Funds received on a gratuitous and irrevocable basis in accordance with the legislation of the Russian Federation at the disposal of state authorities of the Russian Federation, state authorities of the constituent entities of the Russian Federation and local governments.
Budget surplus
The excess of budget revenues over its expenditures.
Budget expenses
Funds allocated for financial support of the tasks and functions of the state and local self-government.
budget painting
A document on the quarterly distribution of budget revenues and expenditures and receipts from sources of financing the budget deficit, establishing the distribution of budgetary appropriations among recipients of budgetary funds and drawn up in accordance with the budget classification of the Russian Federation.
budget system
Based on economic relations and legal norms, the totality of all types of budgets in the country that have relationships established by law with each other. The unity of the budget system is based on the interaction of budgets of all levels, carried out through the use of regulatory revenue sources, the creation of targeted and regional budget funds, and their partial redistribution. This unity is realized through a single socio-economic, including tax, policy.
The budget system of the Russian Federation
Based on economic relations and the state structure of the Russian Federation, regulated by the rules of law, the totality of the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets and budgets of state off-budget funds.
budget loan
Budgetary funds provided to another budget on a returnable, gratuitous or reimbursable basis for a period not exceeding six months within a financial year.
Budget structure
Based on economic relations and legal norms, the totality of all types of budgets in the country. The main document in the construction of the budget system is the Constitution of the Russian Federation.
Budget law of the Russian Federation
Aggregate legal regulations(mandatory rules of conduct), delimiting the scope of various budgets (for example, regional, regional, city, district, rural, settlement), defining the powers of individual state authorities in issuing a budget law, regulating the preparation and implementation of this law.
Budget regulation
The system of redistribution of funds, which consists in the transfer of part of the resources of the higher budget to the lower one in order to balance. The regulatory mechanism includes: subsidies; subventions; regulatory sources of income. Budget regulation is an integral part of the budget process.
budget device
The set of principles on which the organization of the budget system is based.
Budget appropriations
Budgetary funds provided by the budget list to the recipient or manager of budgetary funds.
Budget credit
A form of financing budget expenditures, which provides for the provision of funds to legal entities on a returnable and reimbursable basis.
Budget Process
The activities of public authorities, local governments and participants in the budgetary process, regulated by the norms of law, in drawing up and reviewing draft budgets, draft budgets of state extra-budgetary funds, approving and executing budgets and budgets of state extra-budgetary funds, as well as monitoring their execution.
Currency
The monetary unit used to measure the value of goods, the concept of "currency" is used in the following meanings: the monetary unit of a given country (US dollar, Japanese yen), banknotes of foreign states, as well as credit and means of payment used in international settlements, and international ( regional) monetary unit of account and means of payment (transferable ruble, EURO).
Currency freely convertible
A currency freely and unlimitedly exchangeable for other foreign currencies.
Currency calculations
The system of organization and regulation of payments for monetary claims and obligations in foreign currency arising from the implementation of foreign economic activity. Settlements can be in cash and on credit, i.е. with installment payment. Cash settlement represents the full payment for the goods before the due date or at the moment of transfer of the goods or documents of title to the buyer. Settlement on credit or settlement with installment payment has two forms: commercial credit (credit from the exporter to the importer) to the issuance of advances by the importer to the exporter.
Exchange rate
The price of the monetary unit of a given national currency, expressed in monetary units of the currency of another country.
bill of exchange
A security that certifies an unconditional obligation of the drawer (promissory note) or another payer specified in the bill (bills of exchange) to pay out the amounts of money received on loan upon the expiry of the term stipulated by the bill, the relations of the parties to the bill are regulated by the law on transferable and simple bills of exchange. The Law of the Russian Federation "On the monetary system of the Russian Federation" (Article 13) considers a bill of exchange a payment document used in non-cash payments. Russia adheres to the "Uniform bill of exchange law", adopted in 1930 in Geneva.
Promissory note credit
Credit issued by issuing a bill of exchange to the importer, who accepts it upon receipt of shipping and payment documents.
Extrabudgetary funds
A specific form of redistribution and use of financial resources attracted to finance certain social needs and comprehensively used on the basis of organizational independence of funds.
Government loans
Credit relations between the state and legal entities and individuals, as a result of which the state receives certain amounts of money for a certain period for a certain fee, are carried out in the form of the sale of government securities, loans from extra-budgetary funds and in the order of obtaining loans from banks.
Government spending
Part of financial relations, which is due to the use of state revenues in connection with the implementation of its functions: security; defense; foreign economic relations; social; managerial.
public finance
Monetary relations regarding the distribution and redistribution of the value of the social product and part of the national wealth, associated with the formation of financial resources at the disposal of the state and its enterprises and the use of public funds for the costs of expanding production, meeting the socio-cultural needs of society, the needs of defense and management. State budget revenues consist of many sources and receipts. The totality of all types of state revenues, which is formed by various methods, constitutes the system of state revenues.
State off-budget fund
The form of formation and spending of funds generated outside the federal budget and the budgets of the constituent entities of the Russian Federation.
State loan
Monetary relations arising from the state with legal entities and individuals in connection with the mobilization of temporarily free funds at the disposal of public authorities and their use to finance public spending.
Devaluation
Depreciation of the national or international (regional) monetary unit in relation to the currencies of another country. Very often, devaluation reflects the depreciation of foreign exchange funds as a result of inflation.
Denomination
Consolidation of the national currency by exchanging old banknotes for new ones according to the established ratio in order to streamline monetary circulation, facilitate accounting and settlements in the country with simultaneous recalculation (in the same ratio) of prices, tariffs, wages, etc.
Depository
An organization that conducts depository activities.
Depository activity
Provision of services for the storage (deposit) of securities, as well as "servicing securities", i.e. fulfillment of the depositor's instructions for exercising the rights certified by the securities.
Deport
An exchange transaction for a period concluded on the stock exchange with the expectation of a decrease in the price of securities in order to obtain an exchange rate difference.
Deflation
Withdrawal by the state from circulation of a part of the circulating excess funds in order to reduce inflation.
Bank deposit agreement
An agreement under which one party (bank), which has accepted the amount of money (deposit) received from the other party (depositor) or received for it, undertakes to return the deposit amount and pay interest on it on the terms and in the manner prescribed by the agreement. A bank deposit agreement in which a citizen is a depositor is recognized as a public agreement. The rules on the bank account agreement shall apply to the relations of the bank and the depositor on the account to which the deposit has been made, unless otherwise provided by the rules of this chapter or follows from the essence of the bank deposit agreement.
Bank account agreement
An agreement under which the bank undertakes to accept and credit funds incoming to the account opened by the client (account holder), fulfill the client's instructions to transfer and issue the appropriate amounts from the account and conduct other operations on the account. The Bank may use the funds available on the account, guaranteeing the client's right to freely dispose of these funds. The Bank is not entitled to determine and control the directions of use of the client's funds and establish other restrictions not provided for by law or the bank account agreement on its right to dispose of the funds at its own discretion.
State loan agreement
An agreement under which the Russian Federation, a subject of the Russian Federation, acts as a borrower, and a citizen or legal entity acts as a lender. Government loans are voluntary. A state loan agreement is concluded by acquiring by the lender of issued government bonds or other government securities certifying the right of the lender to receive from the borrower the funds provided to him on loan or, depending on the terms of the loan, other property, established interest or other property rights within the terms stipulated by the conditions issuance of a loan. It is not allowed to change the terms of the loan issued into circulation. The rules on the state loan agreement apply accordingly to loans issued by the municipality.
Loan agreement
An agreement under which one party (lender) transfers money or other things defined by generic characteristics to the ownership of the other party (borrower), and the borrower undertakes to return to the lender the same amount of money (loan amount) or an equal amount of other things of the same kind received by him and quality. The loan agreement is considered concluded from the moment of transfer of money or other things. A loan agreement between citizens must be concluded in writing if its amount exceeds at least ten times the minimum wage established by law, and in the case when the lender is a legal entity, regardless of the amount. In confirmation of the loan agreement and its terms, a borrower's receipt or other document may be submitted certifying the transfer of a certain amount of money or a certain number of things by the lender to him.
Surety agreement
An agreement under which the guarantor undertakes to be responsible to the creditor of another person for the fulfillment by the latter of his obligation in whole or in part. A guarantee agreement may also be concluded to secure an obligation that will arise in the future. The suretyship agreement must be made in writing. non-compliance writing entails the invalidity of the contract of guarantee. If the debtor fails to perform or improperly performs the obligation secured by the surety, the surety and the debtor shall be liable to the creditor jointly and severally, unless the law or the surety agreement provides for subsidiary liability of the surety.
State external debt
Debt obligations of the Government of the Russian Federation to foreign states or international organizations denominated in foreign currency.
State domestic debt
Debt obligations of the Government of the Russian Federation, denominated in the currency of the Russian Federation, to legal entities and individuals, unless otherwise established by the regulatory acts of the Russian Federation. legal forms debt obligations are loans received by the government, government loans received through the issuance of securities on behalf of the Government of the Russian Federation, other debt obligations guaranteed by the Government of the Russian Federation.
Debtor, debtor company
An enterprise that does not fulfill or will not be able to fulfill its obligations to creditors in the near future. The legislation of the Russian Federation introduced the concept of an insolvent debtor (bankrupt).
Grants
Budgetary funds provided to the budget of another level of the budgetary system of the Russian Federation on a gratuitous and irrevocable basis to cover current expenses.
Fixed Income
Revenues that are fully or partially transferred to a certain type of budget.
Pledge
A civil law action that entitles the creditor under a secured obligation (pledge holder), in the event of the debtor's failure to fulfill this obligation, to receive satisfaction from the value of the pledged property preferentially over other creditors. The pledgee has the right to receive satisfaction on the same basis from the insurance indemnity for the loss or damage to the pledged property, regardless of in whose favor it is insured, unless the loss or damage occurred due to reasons for which the pledgee is responsible. Pledge land plots, enterprises, buildings, structures, apartments and other real estate (mortgage) is regulated by the Mortgage Law. The pledge arises by virtue of the contract. A pledge also arises on the basis of the law upon the occurrence of the circumstances specified in it.
Investment fund
An intermediary who, by issuing a securities, attracts privatization certificates and funds from citizens for their subsequent investment in privatization objects, real estate and other securities joint-stock companies. There are investment funds of open and closed types. Open-end investment funds sell their securities with the obligation to buy them back at the first request of investors. Closed-end investment funds issue their securities with the obligation to redeem them at the end of the period for which the fund was established.
Investors
Business entities (government bodies that allocate funds to cover urgent and long-term needs), persons to whom securities belong on the basis of ownership (owners) or other property rights (owners).
Endorsement
Its essence lies in the fact that reverse side bill of exchange or an additional sheet (allonge), an endorsement is made, by means of which another person, along with the bill, transfers the right to receive payment. The person who transfers the bill of exchange by endorsement is called the endorser, and the person who receives it is called the endorser. The act of transferring a bill is called endorsement or endorsement. An endorsement may be made in favor of any person, including even in favor of the payer or drawer. It should be simple and unconditional. Partial endorsement, i.e. transfer of only part of the amount of the bill is not allowed. The endorser is responsible for acceptance and payment. He can absolve himself of responsibility by saying "No turnover on me."
Collection
A form of settlement in which the bank (issuing bank) undertakes, on behalf of the client, to carry out actions at the expense of the client to receive payment and (or) acceptance of payment from the payer. The issuing bank that received the client's order is entitled to engage another bank (executing bank) for its execution. The procedure for making settlements on collection is regulated by the law, the banking rules established in accordance with it and the customs of business turnover applied in banking practice.
Limitation of actions
The term for the protection of the right on the claim of a person. whose right has been violated. The general statute of limitations is three years. For certain types of claims, the law may establish special limitation periods, reduced or longer in comparison with the general period. The limitation period, in particular, does not apply to the requirements of depositors to the bank for the issuance of deposits.
Commercial banks
Private and state banks that carry out universal operations for lending to industrial, commercial and other enterprises, mainly at the expense of the monetary capital that they receive in the form of deposits.
commercial loan
Credit provided in the form of a commodity by sellers to buyers in the form of a deferred payment for goods sold. It is provided against the obligations of the debtor (buyer) to repay within a certain period of time both the amount of the principal debt and accrued interest. There are five main ways to provide a commercial loan: bill method; open account; discount subject to payment within a certain period; seasonal credit; consignment.
Bankruptcy estate
The property of the debtor, which may be levied in the process of bankruptcy proceedings.
Bankruptcy proceedings
A procedure aimed at the forced or voluntary liquidation of an insolvent enterprise (i.e. bankrupt).
bankruptcy creditor
An individual or legal entity that has property claims against the debtor and is not the bearer of security rights.
Consignment
A type of lending in which a retailer can simply receive inventory without obligation. If the goods are sold, then payment will be made to the manufacturer, and if not, then the retailer can return the goods to the manufacturer without paying a penalty. Consignment is usually used when selling new, atypical goods, the demand for which is difficult to predict. An example is the practice of producing and selling new textbooks for institutes. Book publishers send their books to institute bookstores with the condition that they be returned if they are not sold.
Loan agreement
An agreement under which a bank or other credit organization (creditor) undertakes to provide funds (credit) to the borrower in the amount and on the terms stipulated by the agreement, and the borrower undertakes to return the received amount of money and pay interest on it. The loan agreement must be concluded in writing. Failure to comply with the written form entails the invalidity of the loan agreement. Such an agreement is considered null and void. The lender has the right to refuse to provide the borrower with the loan provided for in the loan agreement in whole or in part if there are circumstances that clearly indicate that the amount provided to the borrower will not be returned on time. The borrower has the right to refuse to receive a loan in whole or in part, notifying the lender about this before the term for its provision established by the agreement, unless otherwise provided by law, other legal acts or a loan agreement. In the event of a breach by the borrower of the obligation stipulated by the loan agreement for the intended use of the loan, the lender is also entitled to refuse further lending to the borrower under the agreement.
Leasing
Represents a special form financial investments for the purchase of equipment, durable goods or real estate. The participants in leasing operations are, as a rule, three parties: the enterprise - the manufacturer of the leasing object; leasing company - lessor; as well as an enterprise - a tenant (lessee).
Broker
An intermediary in the conclusion of transactions on stock and commodity exchanges, which acts on behalf of clients and at their expense.
Minimum budget security
The minimum allowable cost of state or municipal services in monetary terms, provided by state authorities or local governments per capita at the expense of the relevant budgets.
Minimum State Social Standards
Public services, the provision of which to citizens on a gratuitous and irrevocable basis at the expense of financing from the budgets of all levels of the budgetary system of the Russian Federation and the budgets of state non-budgetary funds, is guaranteed by the state at a certain minimum allowable level throughout the territory of the Russian Federation.
Tax
Mandatory, individually gratuitous payment levied from organizations and individuals in the form of alienation of funds belonging to them on the basis of ownership, economic management or operational management of funds, in order to financially support the activities of the state and (or) municipalities. Signs of the tax: compulsory character; gratuitousness; non-equivalence.
Tax inspections
Operational financial control. The head of the system of tax authorities is the Ministry of Taxes and Dues of the Russian Federation. The tasks of the tax services are: a) control over compliance with tax legislation, ensuring the completeness and timeliness of making tax payments to the budget; b) implementation of checks financial condition enterprises and organizations, regardless of departmental subordination and their organizational and legal form; c) control over the correctness of determining taxable profit (income) in order to prevent its underestimation; d) registration of all subjects, as well as real and potential objects of taxation; e) accounting, evaluation and sale of confiscated, ownerless property, property transferred to the state, treasures. Tax inspectorates have the right: to receive the necessary documents and information from organizations of various forms of ownership, with the exception of those that constitute a trade secret determined by law; monitor compliance with the legislation on entrepreneurship of citizens; inspect all premises used for generating income; suspend all operations of enterprises and citizens in case of non-submission of documents; seize documents evidencing the concealment of income; apply sanctions and fines; file suits in court and arbitration for the liquidation of enterprises, the recognition of transactions as invalid.
Immovable things (real estate, real estate)
Land plots, subsoil plots, other objects and everything that is firmly connected with the land, i.e. objects, the movement of which is impossible without disproportionate damage to their purpose, including forests, perennial plantings of a structure building. Immovable things also include aircraft and aircraft subject to state registration. sea vessels, inland navigation vessels, space objects. Other property may also be classified as immovable by law.
Penalty (fine, penalty)
A sum of money determined by law or contract which the debtor is obliged to pay to the creditor in the event of non-performance or improper performance of an obligation, in particular in the event of delay in performance. Upon a demand for the payment of a penalty, the creditor is not obliged to prove the infliction of losses to him. The creditor is not entitled to demand payment of a penalty if the debtor is not liable for non-performance or improper performance of obligations.
Government bonds
Securities issued by the government for the purpose of attracting the state budget part of the loan. Income received from state securities, unlike corporate securities, has preferential taxation. Currently, the Ministry of Finance of the Russian Federation, on behalf of the Government of the Russian Federation, attracts short-term borrowed funds from legal entities and the population under bonded loans. The most common short-term loan is a loan for the issuance of government short-term zero-coupon bonds (GKOs).
Corporate bonds
Mortgage bonds (backed by physical assets) unsecured bonds (direct debt that does not create a property claim against the corporation) bonds secured by other securities of the firm (backed by shares or debentures of the company) convertible bonds (give the investor the right to purchase ordinary shares of the same company at a certain price at a certain time) income bonds (yield interest only when income is earned).
Municipal bonds
Issued to raise funds for the construction or repair of public facilities: roads, bridges, water supply systems, etc. Divided into the following types of general obligation bonds (backed by the good faith of the issuer) project income bonds (repaid from project income for funding for which they are issued).
Bond
A security that certifies the right of its holder to receive from the person who issued the bond, within the period stipulated by it, the nominal value of the bond or other property equivalent. A bond also gives its holder the right to receive a fixed percentage of the nominal value of the bond or other property rights.
Monetary obligations
Must be expressed in rubles. A monetary obligation may provide that it is payable in rubles in an amount equivalent to a certain amount in foreign currency or in conventional monetary units (ecu, for example). In this case, the amount payable in rubles is determined at the official exchange rate of the relevant currency or conventional monetary units on the date of payment, unless a different exchange rate or another date for its determination is established by law or by agreement of the parties.
Overdraft
A negative balance on the client's current account, sometimes acquiring the status of a loan, i.e. a form of short-term credit, the provision of which is carried out by debiting funds from the client's account by the bank in excess of the balance of funds in the account, resulting in a debit balance. With an overdraft, all amounts credited to the client's current account are sent to repay the debt, so the amount of the loan changes as funds are received, which distinguishes an overdraft from ordinary loans. Interest is charged at existing or agreed rates.
Option
The right to choose the method of fulfilling the obligation provided by one of the parties to the contract, its terms or the right to refuse to fulfill the obligation under certain conditions.
Option loan
A loan with an option is a form of loan or debt under which the lender, within certain limits, is given the right to choose repayment.
Offeror
The person making the offer.
Offer
A formal offer to a certain person to conclude a deal, indicating all the conditions necessary for its conclusion.
Liabilities
Liabilities (with the exception of subventions, grants from own funds and other sources) of an enterprise consisting of borrowed and borrowed funds, including accounts payable.
Bill of exchange (draft)
Issued and signed by the creditor (drawer). It contains an order to the debtor (drawee) to pay within the specified period the amount indicated in the bill to a third party (receiver).
Payment order
The order of the payer to the bank to transfer a certain amount of money to the account of the person indicated by the payer in this or another bank within the period provided for by law or established in accordance with it, if a shorter period is not provided for by the bank account agreement or is not determined by the customs of business turnover used in banking practice at the expense of funds on his account.
Policy
A document of the insurance body confirming the existence of a concluded insurance transaction.
duties
Monetary amounts collected by specially authorized institutions for actions performed in favor of an enterprise or individuals.
Company
The property complex used for business activities. In general, an enterprise as a property complex is recognized as real estate. The composition of the enterprise as a property complex includes all types of property intended for its activities, including land plots, buildings, equipment, inventory, raw materials, products, rights of claim, debts, as well as rights to designations that individualize the enterprise, its products, works and services (company name, trademarks, service marks) and other exclusive rights, unless otherwise provided by law or contract.
Profit (loss) from the sale of products and goods
It is defined as the difference between the proceeds from the sale of products (works, services) in current prices without value added tax and excises, as well as for its production and sale
Promissory note (solo bill)
It is issued and signed by the debtor and contains his unconditional obligation to pay the creditor a certain amount at the stipulated time and in a certain place.
Regulatory income
Revenues that are intended to support the lower budget, observing subordination. The list of fixed and regulating incomes is fixed by special tax laws and codes.
reserves
Part of the financial resources that is intended to finance the needs that arise unforeseen and are aimed at both simple and expanded reproduction and consumption. Insurance reserves - part of the financial resources aimed at compensating for damages in insured events. Insurance financial reserves - financial reserves of insurance companies. These reserves are needed when current funds are not enough to pay.
Decision to issue securities
A written document registered with the state registration authority and containing data sufficient to establish the scope of the rights certified by the security.
Ruble
The currency of the Russian Federation, legal tender must be accepted at face value throughout the Russian Federation.
Stocks and bods market
Part of the loan capital market where the issue and purchase and sale of securities is carried out. Through the securities market (banks, special credit institutions and the stock exchange), money savings of legal entities, individuals and the state are accumulated and directed to the production and non-productive investment of capital. A distinction is made between the primary securities market, where the issue and initial placement of securities are carried out, and the secondary market, where the sale (circulation) of previously issued securities is carried out.
savers
Legal and individuals, accumulating funds due to the fact that the costs are less than the accumulated funds concentrated on the hands in the form of a person or bank accounts (population, enterprises and the state).
Savings (deposit) certificate
A security that certifies the amount of the deposit made to the bank and the right of the depositor (certificate holder) to receive, after the expiration of the established period, the amount of the deposit and the interest stipulated in the certificate in the bank that issued the certificate, or in any branch of this bank. Deposits are on demand (give the right to withdraw certain amounts upon presentation of a certificate) and urgent (which indicate the withdrawal period of the deposit and the amount of interest due).
Collection
Mandatory contribution levied from organizations and individuals, the payment of which is one of the conditions for the commission in the interests of payers of fees by state bodies, local governments, other authorized bodies and official types of securities. Financial market participants are savers, investors, issuers.
Financial plan
A systemic set of measures of material mediation of the functioning of the state. It is drawn up for a period of 1 to 5 years and is included in the budget. In form, the financial plan is a statement of goals, figures and organizational proposals for the planning period. At the enterprise, planning is based on the consideration of the law of value, and at the same time planning acts as an economic category. Financial plans have all links of the financial system enterprises and organizations operating on a commercial basis, draw up balance sheets of income and expenses, institutions engaged in non-commercial activities - estimates, cooperative organizations, public associations and insurance companies - financial plans, public authorities - budgets of different levels . The object of financial planning is the financial activities of business entities and the state, and the final result is the preparation of financial plans, ranging from estimates of a separate institution to a consolidated one. financial balance states. Each plan defines income and expenses for a certain period, links with the links of the financial and credit systems (contributions to social insurance contributions, payments to the budget, payment for a bank loan, etc.). All parts of the financial system have financial plans. Enterprises and organizations operating on a commercial basis make up a “balance of income and expenses”, enterprises and organizations operating on a non-profit basis draw up an “estimate”, a plan of public associations - a “financial plan”, state authorities make up the budget different levels central, local, subjects of the Federation).
Financial return
The amount of profit received on invested resources. The main task is to reduce the financial intensity and increase the financial return in social production. At the same time, it must be remembered that an improved reproduction structure of financial resources for the value of a social product is an important reserve for the growth of financial resources.
Finance
The totality of objectively determined economic relations that have a distributive nature, a monetary form of expression and materialize in cash income and savings, formed in the hands of the state and business entities for the purposes of expanded reproduction, material incentives for workers, satisfaction of social and other needs. The condition for the functioning of finance is the availability of money, and the reason for the emergence of finance is the need for business entities and the state in resources to ensure their activities.
Stock Exchange
A specialized organization that brings together professional participants in the securities market, creating conditions for the concentration of supply and demand, as well as for increasing the liquidity of the market as a whole. An exchange is a specific trading organization that is subject to special rules and procedures. In the process of exchange trading meetings, the market price (rate) of the securities is established by special methods, information about which, along with information about the volume of transactions made, becomes the property of a wide range of investors. In this respect, the stock exchange can be likened to a sensitive device that signals the state of the stock market, and through it - the state of affairs in the economy as a whole.
Forfaiting
Such a credit transaction, in which the exporter, having received from the importer the drafts (bills of exchange) accepted by the latter, sells them at a discount to a bank or a specialized financial firm. When the due date for payment of the drafts, the importer usually repays his debt in semi-annual installments. Traditionally, forfaiting-based lending to foreign trade firms is usually done by large banks. By resorting to forfaiting, the exporter gets the opportunity to additionally mobilize funds and reduce receivables. An exporter turns to the forfaiting market if he fails to obtain a guarantee from a state institution, or his foreign trade contract is not creditworthy enough, or his own financial situation does not allow him to divert funds for a long time.
Futures or futures contract
A standard contract for the supply of goods in the future at a price determined by the parties during the transaction.
security paper
A document certifying, in compliance with the established form and mandatory details, property rights, the exercise or transfer of which is possible only upon its presentation. With the transfer of a security, all the rights certified by it are transferred in aggregate. In cases provided for by law, or in the manner prescribed by it, for the exercise and transfer of rights certified by a security, evidence of their fixing in a special register (regular or computerized) is sufficient. Securities include a government bond, bond, bill, check, deposit and savings certificate, bank savings book to bearer, bill of lading, shares, privatization securities and other documents that are classified as securities by securities laws or in the manner prescribed by them.When purchasing a security, an investor can count on at least two types income: investment and course.
Registered securities
Securities for which investor information must be available to the issuer at a securities registry firm.
Bearer securities
Securities, the transfer of rights to which and the exercise of the rights certified by them do not require mandatory identification of the name of the investor.
Securities circulation
Conclusion of civil transactions involving the transfer of ownership of securities.
Securities release form
The form of issuance of securities, in which the investor is established on the basis of presentation of a properly executed security certificate or, in the case of depositing such a certificate, and entry on the depo account.
Central banks
Banks that issue banknotes and are the centers of the credit system. They occupy a special place in it and are, as a rule, state institutions.
Check
A security that contains an unconditional order from the drawer of a check to a bank to pay the amount specified in it. Only a bank where the drawer has funds that he has the right to dispose of by issuing checks can be indicated as a payer on a check. It is not allowed to withdraw a check before the expiration of the term for presenting it. Issuing a check does not redeem monetary obligation for which it was issued. The form of a check and the procedure for filling it out are determined by law and the banking rules established in accordance with it.
Issue right
The set of legal rules governing the issuance of money into circulation.
Emission
Issuance of banknotes. On the territory of the Russian Federation, the monopoly right to issue banknotes into circulation belongs to Central bank RF.
Issuers
Legal entities that can issue securities. With the help of the financial market, the money savings of savers are attracted to invest the costs of developing production, implementing state and regional targeted programs, and other needs. An objective prerequisite is the discrepancy between the needs for financial resources of business entities and the availability of sources of financial resources.
Entity
An organization that owns, manages or operational management separate property and is liable for its obligations with this property, may, on its own behalf, acquire and exercise property and other non-property rights, bear obligations, be a plaintiff and a defendant in court. Legal entities must have an independent balance sheet or estimate and be registered as a legal entity. Legal entities can be organizations that pursue profit making as the main goal of their activities (commercial organizations) or do not set profit making as such a goal and do not distribute the profits received among participants (non-profit organizations).
Objects of study of economics:
- ways of rational management;
- ways to improve well-being;
- distribution of goods in order to meet needs;
- methods of economical use of resources;
- factors affecting the state of the economy.
Economic laws and models
Economic laws are stable causal relationships that arise between economic phenomena. For example, the law of the relationship between total expenditure and the existing level of employment. Laws are the basis economic theory.
Based on the theory, economic models are built. They can be divided into two categories:
- macroeconomic models;
- microeconomic models.
Goals of the economy
- The economic growth. It leads to an increase in the quality of life of the population, the development of the country and the strengthening of its position on the world stage.
- Increasing economic efficiency, which is expressed in the ratio of the results of economic activity and the cost of means of production.
- Ensuring price stability that allows the government to ignore inflation when making economic decisions.
- Increasing the level of employment of the population. The fight against unemployment leads to an increase in GDP and an increase in the well-being of the population.
EDUCATIONAL INSTITUTION OF THE FEDERATION OF TRADE UNIONS OF BELARUS INTERNATIONAL UNIVERSITY "MITSO"
GLOSSARY OF MODERN ECONOMIC TERMS
R e e n s e n t s:
Doctor of Economic Sciences, Professor, Head of the Department of Economic Theory and Economic Education of the Belarusian State Pedagogical University named after Maxim Tank L. N. Davydenko; Candidate of Economic Sciences, Associate Professor of the Department international business BSEU A. I. Kuradovets
Dictionary of modern economic terms / comp. C48 A.I. Bazyleva [i dr.]. - Minsk: Intern. University "MITSO", 2012. -
ISBN 978-985-497-155-1.
The dictionary contains the terms and concepts of a market economy used in modern economic theory and practice. Terminology covers general economic, budgetary, financial, trade, currency, tax issues. The most important problems of international economic relations are considered: globalization, regionalization, transnational capital and international institutions, free economic zones, international transport corridors.
The dictionary is addressed to MITSO students for practical use in preparing for classes, SORS, tests, testing, course and state exams, as well as all those interested in economic problems.
UDC 33 BBK 65ya2
ISBN 978-985-497-155-1 © MITSO International University, 2012
INTRODUCTION
AT conditions for the transition of the Republic of Belarus to a market economy, the development of entrepreneurship and business, the formation of a socially oriented society, it is necessary to create conditions for a qualitatively new system of economic education and economic education of young people. Along with the knowledge that students receive from monographic literature, textbooks, teaching aids, they must master new terms and concepts related to the implementation market relations. This is especially true for students of economic universities and economic specialties.
AT The educational institution of the Federation of Trade Unions of Belarus International University "MITSO" is preparing in the following specialties: "Management", "Economics of Enterprise Management", "Marketing", "Finance and Credit", "Logistics", " World economy».
Students of these specialties need to know not only the essence of the basic economic terms that characterize the market economy, but also the new content of known concepts. The Dictionary of Modern Economic Terms, compiled by teachers of the Department of World Economy and Finance of the UO FPB of the International University "MITSO", can help students in mastering modern economic terminology.
The main task of the Dictionary is to assist university students in preparing for practical and seminar classes, SURS, tests, testing, tests, course and state exams.
AT The dictionary lists in alphabetical order the basic concepts and terms of the economy, economic doctrines, economic models, property relations, the basic concepts of a market economy.
Terminology is given on microeconomics, including such concepts as demand, supply, market equilibrium, elasticity of supply and demand, organizational and legal forms of enterprises. Considerable attention is paid to the interpretation of macroeconomic terms: national economy; national accounting system; forms of the national product; national wealth; aggregate demand and supply; macroeconomic instability; money market; fiscal and monetary policy. In the conceptual aspect, finances, the state budget and its functions, taxes, etc. are considered.
The work of the Department of World Economy and Finance on the publication of the Dictionary was carried out on the basis of taking into account its major specialties "Finance and Credit" and "World Economy". In this regard, it presents models of words that are most important in terms of their functioning in the modern economic sphere: finance, banks and business; borrowing and lending; asset Management; securities market, etc.
AT The dictionary deals with the basic concepts of international economic relations that arise between states, regions, companies, financial groups and other participants in economic processes. The basic concepts of international relations are considered both separately in the financial, commercial, industrial sense, and in terms of economic, including labor relations.
AT in the modern world, globalization is especially relevant
and regionalization of international economic relations. The dominant role in establishing the world economic order belongs to transnational capital and international institutions, among which the World Bank and the International Monetary Fund (IMF) are of economic interest. As a result of the international division of labor, the world poles of economic and technological development (North American, Western European and Asia-Pacific). Reflected in the Dictionary actual problems international economic relations: creation of free economic zones and international transport corridors; Internet economy; private and foreign investments, which are of great importance in the development of the economy. Also included are the most common terms and economic concepts associated with market relations.
, Candidate of Economic Sciences, Professor;
, Master of Economic Sciences, Senior Lecturer;
, Candidate of Historical Sciences, Associate Professor;
, Candidate of Economic Sciences, Associate Professor;
, Master of Economic Sciences, Senior Lecturer.
ABANDON - waiver of debt claims, voluntary renunciation of property, exit from a transaction by paying a fine; refusal of the insured from his rights to the insured property in favor of the insurer for the purpose of
receive from him the full sum insured.
ABSOLUTELY NONELASTIC DEMAND - the value of demand
sa, which does not change with price.
TOTALLY ELASTIC DEMAND - the slightest decrease in price, which leads to an increase in the quantity demanded to infinity.
ABSOLUTE IMPoverishment- a situation where the population or part of it is able to satisfy the most minimal needs for food, clothing and housing, i.e., the needs that ensure the maintenance of life.
ABSOLUTE AND COMPARATIVE ADVANTAGE IN INTERNATIONAL TRADE THEORY - the teachings of the classics of English political and economic thought Adam Smith and David Ricardo. According to Smith, absolute advantages in international trade come from a country's ability to produce any the product is more efficient (per unit cost) than in another country. Advantages are determined by the difference in the absolute cost of production (the number of people required to produce a unit of goods) in each country. Ricardo considered Smith's position to be true, but a special case. Having an absolute advantage does not necessarily mean the efficiency of exporting that good to another country that may have a comparative advantage in production. The country should specialize in the production and export of those goods that can be produced at relatively low cost. Imports should be dominated by goods with relatively high production costs. As a result, the structure foreign trade should be determined by comparative rather than absolute advantages.
ABSTRAGING- distraction from the unimportant, highlighting the most important facts and relationships in the economy.
AVAL is a bill of exchange guarantee, by virtue of which the avalier who gave it assumes responsibility for the fulfillment of obligations by any of the persons liable under the bill (acceptor, drawer, endorser). A. may be accepted for the entire amount of the bill or for part of it.
ADVANCE - an amount of money or other value issued in advance against future payments for property, work performed and services rendered.
ADVANCE - an economic operation in which the funds spent on production go through various phases of the value cycle, returning to their starting point with an increment in the form of the value of the surplus product.
AVISO - an official notice of changes in the state of mutual settlements, money transfers, sending goods, etc., sent by one counterparty to another. Banks notify their customers with the help of A. about debit and credit entries on accounts, about account balances, about payment of transfers, issuing a check, opening a letter of credit. The A. usually indicates its number, date of departure, the content of the operation, the amount, the payer, the recipient, their account numbers, and other data.
AUTARKIA [gr., self-satisfaction] - the political and economic isolation of the state, aimed at creating a closed national economy, i.e. relying on its own resources. Economic autarky is the independent development of the economy, ignoring the international division of labor and international trade.
AUTOMATIC ADJUSTMENT - macroeconomics
cal adjustment as a result of the operation of economic laws.
AUTOMATIC STABILIZERS - economic mechanisms that automatically reduce the amplitude of fluctuations in income and prices, softening the reaction of the level of gross national product to changes in aggregate demand without any direct intervention by government, firms or individuals. One of the most important stabilizers is a progressive income tax.
AUTO EFFECTS- changes in income not directly controlled by the government due to changes in the taxable base. For example, an increase in the cost of imports leads to an increase in income from import duties.
AUTONOMOUS INVESTMENT- planned owl-
large investment expenditures independent of the level of income in the economy.
ASSETS - 1. assets (cash, checks, bills of exchange, transfers, letters of credit), at the expense of which payments are made and obligations are repaid; 2. deposits of individuals and organizations in banks, which they can dispose of; 3. bank funds in foreign currency, securities and gold, kept in foreign banks.
TAX AGENT - a person who is responsible for the calculation and payment of taxes to the budget.
TRADING AGENT - a legal or natural person performing legal actions (concluding transactions) at the expense and in the interests of another person (principal).
EMPLOYMENT AGENCY - enterprise, dei-
acting as an agent on behalf of companies looking for workers and on behalf of the people job seekers. Compiles lists of vacancies provided by potential employers, lists of job seekers. In addition, it can advertise jobs and recruit staff.
UNIT MONEY- types of money and funds that differ from each other in the degree of liquidity, i.e., the ability to quickly turn into cash.
AGGREGATION - enlargement economic indicators by grouping them together. It is carried out by summing up, grouping or in other ways reducing particular indicators to generalized ones.
ADAPTATION - adaptation of the economic system and its individual subjects, workers to changing conditions external environment, production, labor.
AD VALORORE - value, calculated in the form of a fixed percentage of the total cost of goods, transactions (tax, commission, customs duty etc.).
ADMINISTRATIVE-COMMAND SYSTEM - the system of managing the country's economy, in which the dominant role belongs to the distribution, command methods and power is concentrated in the central government, in the bureaucracy. It is characterized by purposeful directive planning. Contradicts the democratic principles of governance, hinders the development of a free market, competition, and entrepreneurship.
ADMINISTRATIVE AND TERRITORIAL DIVISION -
division of the territory of the state into regions, districts, provinces, provinces, departments, etc., in accordance with which the system of local government bodies is built and functions.
ADMINISTRATIVE MANAGEMENT METHODS - spo-
Soby and forms of management, which are based on bare administration, management, based on orders, orders, descended from above the installation.
ASIAN-PACIFIC ECONOMIC CO-
COOPERATION (APEC)- a regional grouping created in 1989. The association includes the states of the Pacific basin,
greatly differing in the level of socio-economic development. In 1995, a Program was adopted providing for the creation of a free trade and investment zone until 2010 for industrialized countries and by 2020 for developing countries.
ACQUISITOR - an insurance employee involved in the conclusion of new and renewal of prematurely terminated contracts.
AKVITENS - a document exempting from financial responsibility.
LETTER OF CREDIT - an instruction from a bank to one or more banks to make payments to an individual or legal entity on the order and at the expense of the client within the specified amount on the terms specified in the letter of credit.
ACCUMULATION - accumulation, collection.
ACT - official document having legal force. REVISION ACT - an official document that draws up
the results of a survey of the financial and economic activities of the organization, firm by the body conducting the audit.
ACTIVE OPERATIONS OF BANKS - operations by which banks allocate the resources at their disposal.
ASSETS - a set of property rights (property) owned by an individual or legal entity in the form of fixed assets, intangible assets, inventories, cash, financial investments; the left side of the company's balance sheet.
COMPANY ASSETS- property of the enterprise, consisting of tangible, financial, non-property assets. The tangible assets of the enterprise include land plots (both owned and used), buildings and structures for industrial and non-industrial purposes, other buildings and structures that are on the balance sheet of the enterprise, equipment, inventory, raw materials, products, etc. Financial assets of the enterprise include cash on hand, bank deposits, deposits, checks, investments in other securities, commercial loans, shares in other commercial organizations, portfolio investments in shares of other enterprises, etc. Non-property assets of an enterprise - the rights to designations that individualize the enterprise, its products, works and services (company name, trademarks, service marks, other exclusive rights).
FINANCIAL ASSETS- a set of financial instruments accumulated as of a certain date by legal entities and individuals (cash on hand, checks, monetary documents, securities, etc.).
ACTUARY CALCULATIONS- a system of mathematical and statistical calculations used in insurance. They reflect the mechanism of formation and expenditure of the insurance fund in long-term insurance operations related to the life expectancy of the population. A. r. based on determining the probability of an insured event
in depending on the age of the insured. Tariff rates are determined on the basis of actuarial calculations.
ACCEPTANCE - one of the forms of obligations to carry out non-cash payments between business entities for the delivered products, services rendered or work performed, providing for obtaining the consent of the buyer to pay for the products.
ACCEPTANT - a person who has accepted the offer and thereby consented to the conclusion of the contract.
EXCISE - a type of indirect tax, mainly on consumer goods, as well as services. A. is included in the price of goods or tariffs for services and transferred to the state budget.
SHAREHOLDER - a member of a commercial organization created
in the form of a joint-stock company that owns shares of this company, which confirm the size of its contribution to the authorized capital. The rights and obligations of shareholders, including the right to participate in the management of a joint-stock company, as well as to receive dividends, are determined by the legislation on joint-stock companies, as well as the charter of the company.
JOINT-STOCK COMPANY- commercial organization
in the form of a business company, the authorized capital of which is divided into a certain number of shares having the same nominal value. Members of a joint-stock company (shareholders) are not liable for the obligations of the company and bear the risk of losses associated with the activities of the company, to the extent of the value of their shares. Shareholders who have not fully paid for the shares shall be jointly and severally liable for the obligations of the joint stock company within the limits of the unpaid part of the value of their shares.
SHARE - a perpetual issuance security, indicating a contribution to the authorized capital of a joint-stock company and certifying the rights of its owner to participate in the management of this company, receive part of its profit in the form of dividends and part of the property
or its value after settlement with creditors in case of liquidation of the joint-stock company. A. can be issued simple (ordinary) and privileged.
PREFERRED SHARE- a security that gives its owner the right to receive a dividend as a fixed percentage, to a share of ownership upon liquidation of the company, but does not give the right to vote in the management of the company.
SIMPLE SHARE, ordinary share - a security certifying the owner's rights to receive part of the company's profit in the form of a dividend, to participate in the management of the company and to share the ownership of the joint-stock company in case of its liquidation.
ALIENATION - alienation, mortgage, sale, transfer. ALTERNATIVE PRICE is the labor time required to produce a unit of one commodity, expressed in terms of labor
the time it takes to produce a unit of another good.
OPPORTUNITY COSTS, a lt e r n a t e c o s s -
k and, price of choice - the number of goods that must be abandoned in order to receive another good. The opportunity cost of using any resource, good or service is the cost of the next best alternative.
TAX AMNESTY- exemption of a person who has committed a tax violation from liability for this violation.
AMORTIZATION - a gradual decrease in the value of fixed assets (structures, machinery, equipment) due to their wear and tear, as well as a gradual transfer of the value of fixed assets to manufactured products in order to accumulate funds for their renewal; the gradual repayment of debt by an individual or organization through periodic contributions or redemption of obligations; recognition of a debt obligation as invalid due to its loss, theft.
ANALYSIS - 1. division of the object of study into separate elements, into simpler economic phenomena and processes; 2. highlighting the essential aspects of phenomena and processes.
BALANCE ANALYSIS - a comprehensive assessment of the balance sheet, profit and loss accounts, as well as the report on the state of the organization (firm) and annexes to the report.
ANALYTICAL METHOD- a general term meaning a set of private methods for studying the economy, including analysis and synthesis, abstraction, assumption "ceteris paribus",
ADVANCE - an amount of money issued against future payments for material assets, work performed and services rendered.
EXCISES - indirect taxes included in the price of goods and paid by the buyer.
SHAREHOLDER - a co-owner of an enterprise or organization established in the form of a joint-stock company, owning shares confirming the amount of his contribution to the authorized capital of the joint-stock company and giving the right to receive a dividend.
JOINT STOCK COMPANY - an enterprise or organization whose authorized capital is divided into a certain number of shares distributed among shareholders.
A SHARE is a security that certifies the participation of its owner in the formation of the funds of a joint-stock company and gives the right to receive an appropriate share of its dividend profit. Shares are sold and bought, incl. on the stock exchange.
AUDIT - a control function of the correctness of the preparation of financial documents.
AUCTION - successive sale of real goods based on the competition of buyers.
BANK - according to the legislation of the Russian Federation, a commercial institution, which is a legal entity, which, in accordance with the law and on the basis of a license issued by the Central Bank of the Russian Federation, has the right to raise funds from legal entities and individuals and place them on its own behalf on the terms of repayment, payment and urgency, and carry out other banking operations.
BANKRUPTCY - the ruin of an economic entity, individual or legal entity in the event of its recognition in the manner prescribed by law as an insolvent debtor.
BARTER is a direct moneyless exchange of goods or services.
EXCHANGE - organizational form wholesale, incl. international trade in bulk goods with stable and clear quality parameters (commodity exchange), or systematic transactions for the purchase and sale of securities, gold, currency (stock exchange).
BROKER - an individual or firm engaged in mediation in the conclusion of transactions on the stock, commodity and currency exchanges.
EXCHANGE RATE - the price of the currency of one country, expressed in the currency of another country.
DEVALUATION - the official depreciation of the national currency against foreign currencies.
DUMPING - the sale of goods in the markets of other countries at prices below the level normal for these countries.
MONEY SUPPLY - the total money supply that determines the national economy and is in circulation.
MONEY is a special commodity that plays the role of a universal equivalent in the exchange of goods, a product of spontaneous exchange and a form of value for all other goods.
DEPOSIT - funds or securities deposited with financial and credit, customs, judicial or administrative institutions.
DEFICIENCY COMMODITY - discrepancy between the commodity supply and demand.
DIVERSIFICATION - an increase in the number of industries and the range of goods (services) produced by individual enterprises in new areas for them.
DIVIDEND - part of the profit of a joint-stock company, annually distributed among shareholders in accordance with the number (amount) and type of shares they own.
DEALER - a person (or firm) carrying out exchange or trade intermediation at his own expense.
SUPPLY - appropriations from the budget intended to cover planned losses or balance lower budgets.
INFLATION - the overflow of circulation channels with paper money, accompanied by their depreciation and rising prices.
CREDIT - a loan provided in cash or in kind on terms of repayment and, as a rule, with the payment of an interest determined by agreement between the creditor and the debtor for the use of the loan.
LIQUIDITY - the mobility of assets of enterprises, firms, banks, which implies the possibility of uninterrupted payment on time of credit and financial obligations and legitimate monetary claims.
BROKER - an intermediary between the parties when concluding transactions on stock and commodity exchanges.
MARKETING - analysis and forecasting of the market situation in order to guide production and provide better economic conditions for the sale of manufactured products.
MANAGER - manager of a company, bank, financial institution, their structural subdivisions; a professional in his field, endowed with executive power.
MONOPOLY - the exclusive right of production, trade, etc., owned by one person, a certain group of persons or the state; generally the exclusive right to something.
MONOPSONY - a situation in the market in which one buyer is opposed by a large number of sellers.
STATE TAXES - obligatory payments established and collected by the state from citizens, as well as from legal entities.
PENALTY - the amount that the debtor is obliged to pay to the creditor in case of non-fulfillment or poor-quality fulfillment of the obligation.
VALUE - the officially declared value of a banknote, a security, as a rule, does not correspond to the actual value.
OLIGOPOLY - a market situation in which a small number of fairly large sellers opposes a mass of relatively small buyers, and each seller accounts for a significant part of the total supply on the market.
OLIGOPSONY - a market situation in which a sufficiently limited number of buyers is opposed by a large number of sellers (manufacturers). GROSS PROFIT- the entire amount of profits of enterprises before deductions and deductions.
PROLONGATION - extension of the validity of the document. RENTIER- the owner of capital, living on interest from its provision on a loan or on income from securities.
REVALUATION - an increase in the official exchange rate of the national currency in relation to foreign currencies. REIMPORT- purchase and import from abroad of domestic goods that have not been processed there.
MARKET - a set of socio-economic relations in the field of exchange, through which the implementation is carried out marketable products and the social character of the work contained in it is finally recognized.
RENEWAL - a system of measures to improve the financial situation of enterprises in order to prevent their bankruptcy or to increase competitiveness. STAGFLATION- the state of the economy, when the stagnation or decline in production (stagnation) is combined with increasing unemployment and a continuous rise in prices - inflation. HOLDING- a type of entrepreneurship, the essence of which is the acquisition of controlling stakes in various companies in order to establish control over their activities and receive income in the form of dividends. SECURITIES - documents containing property rights that give the right to receive a certain part of income.
Eeconomics as a science
"Economics is the science that studies human behavior in terms of the relationship between its ends and limited means that allow for alternative uses." Economic theory is closely related to many other sciences: philosophy, psychology, history, demography, statistics, mathematics, jurisprudence, etc. From the point of view of the object of study, sections of economic theory can be conditionally designated as “microeconomics” and “macroeconomics”. Microeconomics is the analysis of the causes, patterns and consequences of the functioning of individual entities in a market economy (for example, an industrial firm, a family farm, etc.). Macroeconomics considers the aggregate indicators of income, employment, price dynamics, determines the patterns of state economic policy.
Eeconomicswhat needs, resources and benefits
In turn, the economic good is tangible and intangible objects, or rather the property of these objects, capable of satisfying economic needs.
Resource means that allow, with the help of certain transformations, to obtain the desired result.
Resources are divided into: - economic (functioning) - potential (not involved in economic turnover)
Economic resources include: - natural resources - labor (working-age population) - material (all man-made means of production that are the result of production) - financial (money that society is able to allocate for the organization of production) - information (scientific, scientific and technical, design, statistical, technological, informational information, as well as other types of intellectual values necessary to create an economic product)
Eelasticity of demand
Elasticity of demand allows you to measure the degree of reaction buyer to change prices, income level or other factors. Calculated via elasticity coefficient.
Distinguish elasticity demand price and income elasticity of demand.
Price elasticity of demand shows how much the quantity demanded will change if the price changes by 1%. The price elasticity of demand is influenced by the following factors:
Availability of competitor products or substitute products (the more there are, the more more opportunity find a replacement for a product that has risen in price, i.e. higher elasticity)
· Imperceptible to the buyer change in the price level;
· Conservatism of buyers in tastes;
Time factor (the more time a consumer has to choose a product and think about it, the higher the elasticity);
· Specific gravity goods in the income of the consumer (the greater the share of the price of the goods in the income of the consumer, the higher the elasticity).
Depending on these indicators, there are:
Inelastic demand (Ep(D)< 1) - рыночная ситуация, при которой изменение цены на 1 % вызывает незначительное изменение объема (QD).
· Elastic demand (Ep(D) > 1) - a market situation in which a change in P by 1% (Dp=1%) causes a significant change in QD.
Unit elasticity demand (Ep(D) = 1) is a market situation in which a 1% change in price causes a 1% change in QD.
· Absolutely inelastic demand, meaning the absolute insensitivity of the volume of demand to price changes Ep(D) = 0): a change in P by 1% or more does not affect the change in QD.
Income elasticity of demand measures the percentage change in demand for a 1% change in income. It depends on the following factors:
· Importance of goods for the family budget.
Whether the product is a luxury item or a necessity item.
· Conservatism in tastes.
By measuring the income elasticity of demand, it is possible to determine whether a given product belongs to the category of normal or low-value goods. The bulk of the consumed goods belong to the category of normal. As incomes rise, we buy more clothes, shoes, high-quality food, durable goods. There are goods, the demand for which is inversely proportional to the income of consumers. These include all secondhand products and some types of food (cheap sausage, rotten apples).
Rmarket, system market and their variety
A market is a collection of transactions for the purchase and sale of goods. The market in its development has come a long way, the duration of which is more than 30 thousand years. The very first definition of a market is an area, a public place for the sale of goods, i.e. goods and services. The market is a system of relations between sellers and buyers, i.e. it is a system of relations between supply and demand. Conditions for the emergence of the market: 1 The needs of people in goods. 2 Limitation of all resources production - labor, land and other material means of production. 3. Social division of labor, which increases the efficiency of production and creates a material basis for commodity exchange. 4. Economic isolation of commodity producers within the framework of property - initially communal, and then private. 5. Independence of commodity producers, his freedom as entrepreneurs. Market functions: 1 Informational. Its essence lies in the fact that the market, like a computer, collects, processes and transmits and issues information within the economic territory that it covers. 2. Intermediary. The market connects economically isolated commodity producers and consumers into a single system. As a result, sellers and buyers find each other. 3. Regulatory. The market provides answers to the questions: What to produce? How to produce? For whom pro-Th? 4. pricing function. The market recognizes only publicly necessary costs and, accordingly, public prices, which reflect the needs of the buyer.5. Stimulating. Orientation of market prices to the social level of costs, to take into account the demand of consumers, encourages the commodity producer to save his individual costs and present the goods that the buyer needs to the market.6. Creative-destructive. The market provides a change in all economic proportions between industries and regions. A vivid and illustrative example of this is the restructuring of the economy in Russia.7. Improving function (clearing the market from non-competitive producers) 8. Differentiating. The market enriches some commodity producers and ruins others.
There are 2 kinds of connections between market agents: A market transaction can be viewed from the economic side, in the form of an act of commodity-money circulation. The economic interest of the seller is to exchange the goods for the appropriate amount of money, and the buyer is to purchase the useful thing he needs for money. And from the legal side, a market transaction means the action of citizens and legal entities that take the form of a contract of sale. There are markets: local (market within the village, city), national, world. From the point of view of economists, there is a market for resources and consumer goods. In turn, they are divided into consumer market, the market of means of production, the market of land, real estate, labor, services, currency, insurance, information.
Dengi, money functions
Essence and functions of money. In modern economic theory, the following 4 functions of money are distinguished: 1. Medium of exchange when money is used to buy goods and services. Money here acts as a technical means through which the exchange of goods and services is carried out. As a means of circulation, money is absolutely liquid; quickly implemented in economic life.2. A measure of value, when money is used as a unit or measure of the relative prices of dissimilar goods and services. Money is used as a unit of account for the evaluation of goods, services, assets. The value of goods is expressed in prices, and prices are measured by means of money.3. means of savings. As the most liquid property, money is a very convenient form of storing wealth; money is withdrawn from circulation and acts as a store of value. At the early stages of the development of a commodity economy, such a withdrawal of money from circulation turned it into a treasure, a treasure. Instrument of payment. In this function, money primarily serves credit relations and acts as a medium of exchange, as well as a measure of value. Money as a means of payment functions in the sale of goods on credit and outside the sphere of commodity circulation.
Pentrepreneurship
Entrepreneurship, business- independent, carried out at one's own risk, activity aimed at systematic obtaining arrived from using property, sales goods, run works or providing services persons registered as such in the prescribed law okay. The effectiveness of entrepreneurial activity can be assessed not only by the amount of profit received, but also by the change in the value of the business (the market value of the enterprise). Entrepreneurship, business is the most important attribute market economy permeating all its institutions.
Can be carried out legal entity or directly individual. In Russia, as in many countries, in order to conduct business activities, an individual is required to register as individual entrepreneur.
Entrepreneurship can be done in different areas. In addition to general entrepreneurship, there are social and technological entrepreneurship. Sources of start-up capital for starting a business can be: loans (debt financing - in a bank or from friends), gratuitous assistance (grants or subsidies), investments (venture funds or business angels - equity financing). In addition, to help start-up entrepreneurs, there are government and public organizations, technology parks and business incubators. However, entrepreneurship is not easy, and most new businesses fail.
General partnership and limited partnership
Among the types of business partnerships, a general partnership and a limited partnership are distinguished. Under general partnership means a commercial organization created as a result of the association of persons and their property on the basis of an agreement concluded between them on joint entrepreneurial activity, the participants of which are liable for its obligations with all their property. Faith partnership is a commercial organization created as a result of the association of persons and their property on the basis of an agreement on joint entrepreneurial activity, in which some participants (general partners) are liable for its obligations with their property, while others (contributors) are not liable for the obligations of this organization. In practice, both types of partnerships are extremely rare. Most entrepreneurs prefer to create limited liability companies and joint-stock companies.
Limited Liability Company
Among business companies The most common are limited liability companies (LLC). A limited liability company is a commercial organization created as a result of a combination of property by several persons who are not liable for the obligations of this organization and have shares in its authorized capital.
Additional Liability Company(ODO), which has the same features as LLC, with some exceptions. ALC participants are liable for the obligations of the company, but not with all their property, but only with some part of it, while in the same multiple for all of the amount of the contribution made. For example, the charter states that ALC participants are liable twice. This means that if a participant has made a contribution in the amount of 100 thousand rubles, then if the property of the ALC is not enough for settlements with creditors, he bears a maximum liability of 200 thousand rubles. In fact, ALC is a transitional form from a full partnership to a society as an economic organization.
There are two types of AO - public corporation(JSC) and closed joint stock company(COMPANY).
Public corporation
JSC is characterized by:
· Its participants can alienate their shares without the consent of other shareholders, that is, this company is open to any participant in civil transactions. Any participant in the civil turnover can purchase shares in a joint-stock company, there are no restrictions here. At the same time, any shareholder can sell his shares to any subject of civil law at any time;
· An open joint stock company can make an open subscription for shares according to the following algorithm: a joint stock company is formed, an issue of shares is announced and registered, and anyone can purchase them on the stock exchange;
· The number of JSC shareholders is not limited.
Closed Joint Stock Company
JSC is characterized by:
· Alienation of shares to CJSC shareholders is limited by the pre-emptive right to purchase by other shareholders. Similar to the procedure for alienating shares in an LLC, you must first offer shares to other shareholders, and only if they refuse, you can sell the shares to a third party;
· Shares in a CJSC are distributed among a limited number of participants, between specific persons, and are not sold on the stock exchange;
· The number of shareholders in a CJSC should not exceed 50.
Mmanagement
Management- this is the ability to achieve goals, use labor, intelligence, motives for the behavior of other people.
Management- this is not so much the ability to analytically solve tasks, but the ability to work with people, to get the maximum result from them
Management- is the effective and productive achievement of the goals of the organization through planning, organization, leadership (management) and control over organizational resources.
Mmarketing
“Marketing is a type of human activity aimed at meeting the needs and requirements through exchange” (the founder of the theory of marketing Philip Kotler)
“Marketing is art and the science choose the right target market, attract, retain and increase the number of customers by creating the confidence of the buyer that he represents the highest value for the company”, as well as “an orderly and focused process of understanding consumer problems and regulation market activity"(Philip Kotler) .
“Marketing is the implementation of business processes in the direction of the flow of goods and services from the producer to the consumer.” ( American Marketing Association(AMA))
«Marketing - system planning, pricing, promoting and disseminating ideas, goods and services to meet the needs, wants and desires of individuals and organizations; advertising is just one of factors process marketing."
FROMproperty
Relations regarding the ownership of factors of production (means, objects of labor, information and intellectual resources, land and labor) have always played an important role in the organization and socio-economic nature of production. When considering property relations, it is necessary to single out: 1) legal (legal) property relations; 2) economic relations of ownership. Legal property relations characterize the attitude of subjects - citizens and the state to objects of property (property). The legal powers of the owner are defined as the right to own (actually possess), use (extract useful properties for themselves) and dispose of property at their own discretion, i.e. determine its legal fate, for example, sell, exchange, donate, leave by inheritance, pledge, rent, etc. Types of legal relations of ownership depend on who is the subject of ownership: a) subjects of ownership - citizens. Among citizens, as subjects of ownership, property relations are predominant, which are regulated by civil (private) law. Hence the property of citizens was called private property. Due to the fact that citizens exercise their powers as owners in various forms, for example, entrepreneurial, socio-political, religious associations of citizens, all these forms are regulated by private or civil law. b) the subject of ownership is the state. Property in respect of which the powers of the owner are exercised government bodies(for example, the State Property Committee of the Russian Federation), is defined as state property, if local government bodies - then property is defined as municipal (in cities, regions of the Russian Federation). Economic property relations characterize the relations between the participants in production regarding the use of its factors. The nature of economic relations of ownership is determined by the direction of use of income from property. If production is carried out in the interests of private individuals, then the form of economic relations of private property is formed with regard to the production of goods and private appropriation is represented. If production is carried out in the interests of a group, then we are talking about economic relations of group (collective) appropriation. If production functions in the interests of society, then the economic relations of public ownership and public appropriation are represented. In turn, the economic relations of collective property in relation to private property act as a form of public property, and in relation to public appropriation - as private. The economic relations of property occupy the main place in the entire system of production relations, thus determining their nature and essential content. Legal relations of ownership and economic relations of ownership are closely interconnected, the former coexist - in laws and other regulations, the second - are added up between the participants in the production. At the same time, the legal and economic relations of ownership also have an independent movement, so it is unacceptable to directly derive the first from the second.
Fform of ownership
Forms of ownership. There are 2 main subjects of ownership (citizens and the state) and, accordingly, two main forms of ownership: 1) private; 2) state. Private property is subdivided into: individual capitalist, collective property of organizationally united capitalists. Individual private property was characteristic of the pre-monopoly era, and collective capitalist property is characteristic of the modern financial capitalist economy, which represents financial capital as a new formation. These forms of capitalist property are characterized by the division of capital into real capital (money, means of production, finished goods) and fictitious (securities - stocks, bonds). The individual capitalist is directly the private owner of only the fictitious capital, while the real capital functions as the property of the corporation. As the productive forces develop, the forms of private capitalist property also undergo further evolution: the individual form of private property is increasingly being supplanted by group and state property. The economic importance of state property has especially increased. In the developed capitalist countries, an ever-increasing part of money and productive capital is concentrated in state ownership.
Rstatehood, privatization
Denationalization is the transformation of state property into other forms of ownership. The transition to a market economy in Russia required the introduction of real competition, which is possible under the conditions of denationalization and is feasible with the expansion of the share of private property. To this end, Russia carried out the privatization of part state enterprises. Privatization is the process of acquiring the ownership of citizens or their associations of all or part of the shares of joint-stock companies, partnerships and enterprises. In Russia, privatization began in October 1992 and took place in two stages. Voucher privatization took place at the first stage. From July 1, 1994 - the second stage of privatization, during this stage the property of state and municipal enterprises sold for money. The sale and purchase procedure includes three methods of privatization: a commercial tender, a non-commercial tender and an auction. Privatization, as previously thought, did not lead to a turning point in the course of production processes. When considering property relations, it is necessary to single out: 1) legal (legal) property relations; 2) economic relations of ownership. Legal property relations characterize the attitude of subjects - citizens and the state to objects of property (property). Economic property relations characterize the relations between the participants in production regarding the use of its factors. Forms of ownership. There are 2 main subjects of ownership (citizens and the state) and, accordingly, two main forms of ownership: 1) private; 2) state. Private ownership is divided into: individual capitalist, collective ownership of organizationally united capitalists. Individual private property was characteristic of the pre-monopoly era, and collective capitalist property is characteristic of the modern financial capitalist economy, which represents financial capital as a new formation. These forms of capitalist property are characterized by the division of capital into real (money, means of production, finished goods) and fictitious (securities - shares, bonds). The individual capitalist is directly the private owner of only the fictitious capital, while the real capital functions as the property of the corporation. As the productive forces develop, the forms of private capitalist property also undergo further evolution: the individual form of private property is increasingly being supplanted by group and state property. The economic importance of state property has especially increased. In the developed capitalist countries, an ever-increasing part of money and productive capital is concentrated in state ownership.
Andproduction costs and profits. Wlaw of diminishing returns
Under production costs understand the costs of manufacturing products. From the point of view of society, the costs of producing goods are equal to the total costs of labor (living and materialized, necessary and surplus). From the point of view of the enterprise, due to its economic isolation, only its own expenses are included in the cost structure. Moreover, these costs are divided into external and internal. External (explicit) costs are direct cash payments to resource providers. Explicit costs include wages of workers and salaries of managers, payments to trading firms, banks, wages transport services and much more. Internal (implicit) costs (imputed): costs for own and self-used resource, opportunity costs that are not provided for by contracts, mandatory for explicit payments, and therefore remain in monetary form under-received (use of premises or transport belonging to the company, own labor of the owner of the company, etc.)
Profit- excess in monetary terms income from the sale of goods and services over costs for the production and sale of these goods and services.
Law of diminishing returns is that in the short run, when the value of production capacity is fixed, ultimate performance variable factor will decrease starting from a certain level of costs of this variable factor.
16. market economy in conditions of perfect and not perfect competition
Imperfect competition (Monopolistic competition). widespread market structure, is monopolistic competition (MC), which combines the features of competition and monopoly. MK is a structure with little monopoly power, but a very high degree of competition. It has the following features: there are many firms producing differentiated goods, and a large number of buyers; firms-monopolistic competitors can freely enter the industry and leave it; a monopolistic competitor has some control over price; There is significant non-price competition in the industry. A slightly negative slope of the demand curve under MC means that the firm will produce less output than under perfect competition.
Perfect, free or pure competition - economic model, idealized state market when individual buyers and sellers cannot influence the price, but form it with their own contribution demand and suggestions.
Features of perfect competition:
An infinite number of equal sellers and buyers
Homogeneity and divisibility of products sold
no barriers to entry or exit from the market
high mobility factors of production
Equal and full access of all participants to information (prices of goods)
Mmonopoly, oligopoly
Monopomliya(from Greek ???? (mono)- one and????? (poleo)- I sell) - a firm (a situation in the market where such a firm operates) operating in the absence of significant competitors (producing goods (s) and / or providing services that do not have close substitutes).
Types of monopolies
· natural monopoly- a type of monopoly that occupies a privileged position in the market due to the technological features of production (due to the exclusive possession of the resources necessary for production, the extremely high cost or exclusivity of the material and technical base). Most often, natural monopolies are firms that operate labor-intensive infrastructures, the re-creation of which by other firms is not economically justified or technically impossible (eg water supply systems, electricity supply systems, railways).
· Conglomerate (Concern) (in legal practice - a group of persons) - several heterogeneous, but financially mutually integrated entities (for example, in Russia CJSC " Gazmetal").
Oligopoly is a market structure in which several large firms controls the production and marketing of the bulk of products
Rmarket relations in the agricultural sector of the economy
The specificity of agricultural production determines the features of reproduction in the agricultural sector of the economy in the entire system of the agro-industrial complex (AIC) in a market economy, the totality of relationships and connections of the agro-industrial complex constitutes the agribusiness system. It is important to determine the sectoral aspects of the structure of the agro-industrial complex, i.e. to find out the range of industries that are included in the agro-industrial complex in the agribusiness system, their border and social economy functions.
AIC includes 4 areas:
Branches of the industry producing means of production for agriculture and other industries included in the complex
CX production (livestock and crop production
· the industry will carry out the processing of storage and transportation of products from agricultural raw materials to bring them to consumption.
· Industrial and social infrastructure
Ffinances and state financial system
Finamnsy(from lat. finance- cash, income) is a system of economic relations for the formation and use of cash funds based on the distribution and redistribution of GNP and national income
The financial system of any country is determined economic system society. It is a combination of various spheres (links) of financial relations, each of which is characterized by features in the formation and use of funds of funds, a different role in social reproduction. The financial system of the Russian Federation includes the following areas of financial relations: - public finances (state budget, off-budget funds, state credit, territorial budgets, finances of state enterprises, financial reserves); - finances of enterprises, institutions and organizations consist of finances of enterprises operating on a commercial basis, finance institutions and organizations that carry out non-commercial activity, finance of public associations; - insurance finances include social, personal and property insurance funds; - lending finance covers the banking and parabanking systems. The financial system finds its expression in the financial policy, and the latter is implemented through the financial mechanism. Financial mechanism - a system of action of financial methods and levers in organizing, planning and stimulating the use of financial resources.
The state budget
The state budget- these are monetary relations that arise between the state and legal entities and individuals regarding the redistribution of national income. in other words, it is a list of state revenues and expenditures.
AT budget system Russian Federation includes budgets of the following levels:
· Federal budget
Budgets of subjects of the Russian Federation (regional budgets)
budgets municipalities(local budgets)
budgets of state off-budget funds
AToff-budget funds
Statemrelated extrabudgetarymfund- a fund of funds formed outside federal budget and budgets subjects of the Russian Federation and designed to implement the constitutional rights of citizens to pensions, social insurance, social security in case of unemployment, health care and medical care. Expenses and incomes of the state non-budgetary fund are formed in the manner established Budget Code Russia, as well as other legislative acts, including laws on the budget of the Russian Federation for the corresponding year.
The following state non-budgetary funds operate in Russia:
· Pension Fund of the Russian Federation
· Fund social insurance Russian Federation
· federal fund compulsory health insurance.
Ffunctions of the principle of the tax system
Taxes are mandatory fees and payments levied by the state from individuals and legal entities to the budgets of the appropriate level or to extra-budgetary funds at a rate established by law. Functions of the tax system.
*fixed - associated with the dominance of the revenue side of the budget. In countries with a traditional market economy, 90% of state budget revenues are formed from taxes, payments and customs duties.
*regulatory - promotes the redistribution of income through the differentiation of tax rates
*social-implemented through the state budget and by financing social programs of the state.
* stimulating - associated with stimulating the investment process of agricultural production, small business
* protectionist - designed to temporarily protect the domestic manufacturer from the foreign trade expansion of foreign firms.
Principles of the tax system-
* the obligatory payment of taxes by all subjects of a market economy that receive income or profit
*Flexibility of the tax system.
*progressive nature of taxation.
Ffederal taxes
Federal taxes and fees- obligatory and gratuitous contributions that are fully or partially credited to the federal budget or federal off-budget funds and are sources of income for the federal budget (off-budget fund). In accordance with the Tax Code of the Russian Federation to F.N. and s. include: VAT; excises on certain types goods (services) and certain types of mineral raw materials; tax on profit (income) of organizations; capital income tax; personal income tax; unified social tax (contribution); government duty; customs duty and customs fees; subsoil use tax; tax on the reproduction of the mineral resource base; tax on additional income from hydrocarbon production; fee for the right to use objects of the animal world and aquatic biological resources; forest tax; water tax; environmental tax and federal license fees. F.s. and with., are established by the Tax Code of the Russian Federation, and the change or cancellation of federal taxes is carried out exclusively by the adoption of a federal law on amendments to the Tax Code of the Russian Federation. F.s. and s. are obligatory for payment throughout the territory of the Russian Federation.
Rregional taxes
Regional taxes
o Property tax organizations
o Gambling business tax
o Transport tax
Regional taxes and fees- obligatory and gratuitous contributions to the budget of the respective subjects of the Russian Federation, established by the laws of the subjects of the Russian Federation in accordance with the Tax Code of the Russian Federation and obligatory for payment on the territory of the respective subjects of the Russian Federation. K R.n. and s. include: corporate property tax; property tax; road tax; transport tax; sales tax; gambling business tax; regional license fees. R.n. and s. are credited to the relevant regional budgets (off-budget funds) and are sources of income for these budgets (off-budget funds).
Mlocal taxes
1. Local taxes include the following:
a) personal property tax. The amount of tax payments is credited to local budget at the location (registration) of the object of taxation;
b) land tax. The procedure for crediting tax revenues to the relevant budget is determined by land legislation;
c) registration fee from individuals engaged in entrepreneurial activities. The amount of the fee is credited to the budget at the place of their registration;
d) tax on the construction of industrial facilities in the resort area;
e) resort tax;
e) fee for the right to trade. The fee is established by district, city (without district division), district (in the city), settlement, rural representative bodies of power - local Soviets of People's Deputies. The fee is paid by purchasing a one-time coupon or a temporary patent and is fully credited to the relevant budget; (As amended by the Law of the Russian Federation dated 16.07.92 No. 3317-1)
g) targeted fees from citizens and enterprises, institutions, organizations, regardless of their organizational and legal forms, for the maintenance of the police, for the improvement of territories, for the needs of education and other purposes. (as amended by Law of the Russian Federation No. 4178-1 dated December 22, 1992) h) advertising tax. The tax is paid by legal entities and individuals who advertise their products at a rate not exceeding 5 percent of the cost of advertising services;
i) tax on the resale of cars, computers and personal computers. The tax is paid by legal entities and individuals reselling these goods at a rate not exceeding 10 percent of the transaction amount;
j) collection from dog owners. The fee is paid by individuals who have dogs in the cities (except service dogs), in an amount not exceeding 1/7 of the minimum monthly wage per year established by law;
k) license fee for the right to trade in wine and vodka products. The fee is paid by legal entities and individuals selling wine and vodka products to the population in the amount of: from legal entities - 50 minimum monthly wages established by law per year, individuals - 25 minimum monthly wages established by law per year. When trading these persons with temporary outlets those serving evenings, balls, festivities and other events - half of the minimum monthly wage established by law for each day of trade;
l) license fee for the right to conduct local auctions and lotteries. The fee is paid by their organizers in an amount not exceeding 10 percent of the value of the goods declared for the auction or the amount for which lottery tickets are issued;
m) the fee for issuing an order for an apartment. The fee is paid by individuals upon obtaining the right to occupy a separate apartment in an amount not exceeding 3/4 of the statutory minimum monthly wage, depending on the total area and quality of housing;
n) fee for parking vehicles. The fee is paid by legal entities and individuals for parking cars in places specially equipped for this purpose in the amount established by the representative authorities - local Councils of People's Deputies; (As amended by the Law of the Russian Federation dated 16.07.92 No. 3317-1)
o) fee for the right to use local symbols. The fee is paid by manufacturers of products that use local symbols (coats of arms; types of cities, localities, historical monuments, etc.), in an amount not exceeding 0.5 percent of the cost of products sold;
p) fee for participation in races at hippodromes. The fee is paid by legal entities and individuals exhibiting their horses for competitions of a commercial nature, in the amount established by local government bodies on whose territory the hippodrome is located;
c) fee for winning on the races. The fee is paid by persons who won the game on the tote at the hippodrome, in an amount not exceeding 5 percent of the winnings;
r) collection from persons participating in the game on the totalizator at the hippodrome. The fee is paid in the form of a percentage surcharge to the fee established for participation in the game, in an amount not exceeding 5 percent of this fee;
s) collection from transactions made on stock exchanges, with the exception of transactions provided for by legislative acts on the taxation of transactions with securities. The fee is paid by the participants in the transaction in an amount not exceeding 0.1 percent of the transaction amount;
t) fee for the right to film and television filming. The fee is paid by commercial film and television organizations that produce filming that requires local governments to implement organizational measures(allocation of a police squad, cordoning off the filming area, etc.), in the amount established by the representative authorities - the local Councils of People's Deputies; (As amended by the Law of the Russian Federation dated 16.07.92 No. 3317-1)
u) collection for cleaning the territories of settlements. The fee is paid by legal entities and individuals (owners of buildings) in the amount established by the representative authorities - local Councils of People's Deputies. (As amended by the Law of the Russian Federation dated 16.07.92 No. 3317-1)
v) fee for opening a gambling business (installation of slot machines and other equipment with clothing or cash prizes, card tables, roulette and other means for playing). Payers of the fee are legal entities and individuals - owners of the said facilities and equipment, regardless of the place of their installation. The rates of the fee and the procedure for its collection are established by the representative bodies of power - the local Soviets of People's Deputies. (clause "c" was introduced by the Law of the Russian Federation of July 16, 1992 No. 3317-1)
w) tax on the maintenance of the housing stock and social and cultural facilities in the amount not exceeding 1.5 percent of the volume of sales of products (works, services) produced legal entities located in the respective area.
State debt
Public debt is another important issue public finance is the sum of the budget surplus minus all deficits. Distinguish between external and internal public debt. External public debt - debt of the state to foreign states, organizations and individuals. Domestic public debt is the debt of the state to its population. It may take the form of loans received by the government; government loans made through the issuance of securities on behalf of the government; other debt obligations guaranteed by the government - the need to service external debt, which, given its volume, means a significant reduction in consumption opportunities for the population of a given country; - debt leads to the crowding out of private capital, which may limit further economic growth; - an increase in taxes to pay for the public debt acts as a disincentive to economic activity; - the growth of external debt, of course, reduces the international authority of the country; - with the growth of public debt, the uncertainty of the country's population in the future increases. There is a need for debt management.
Eeconomic cycle and crisis
Business cycles - term, denoting regular fluctuations in the level of business activity from economic boom to economic recession. AT cycle There are four clearly distinguishable phases of business activity: peak, recession, bottom (or “lowest point”) and rise. Climb occurs after reaching the lowest point of the cycle (bottom). Characterized by gradual growth employment and production. Many economists believe that low inflation rates are inherent in this stage. There is an introduction of innovations in the economy with a short payback period. Demand deferred during the previous recession is realized.
The peak, or top of the business cycle, is the "high point" of an economic expansion. In this phase unemployment usually reaches the lowest level or disappears completely, production capacities operate at maximum or close to it load, that is, almost all material and material resources available in the country are involved in production. labor resources . Usually, though not always, there is an increase during peaks inflation. The gradual saturation of markets increases competition, which reduces the rate of return and increases the average payback period. The need for long-term lending is growing with a gradual decrease in the ability to repay loans.
recession ( depression) is characterized by a reduction in production volumes and a decrease in business and investment activity. Due to the fall conjuncture recession is usually accompanied by rising unemployment and falling capacity utilization. Officially a recessionary phase, or recession, I consider the situation of falling business activity, which continues for more than three months in a row.
bottom ( economic crisis) business cycle is the "trough" of production and employment. It is believed that this phase of the cycle is usually not long. However, history knows exceptions to this rule. The Great Depression The 1930s, despite periodic fluctuations in business activity, lasted almost ten years.
Economic crisis (other Greek Krisis - turning point) - imbalance between demand and offer on the products and services.
Main types - underproduction crisis and overproduction crisis.
The crisis of underproduction, as a rule, is caused by non-economic causes and is associated with a violation of the normal course of (economic) reproduction under the influence of natural Disasters or political actions (various prohibitions, wars etc.)
The crisis of overproduction, also known as the "cyclical" crisis, appears in the market industrial economy, initially in England in the 18th century.
The crisis of overproduction is a phase business cycle. It leads to a recession and the subsequent depressive process in the economic environment.
The result of the economic crisis is a decrease in the real gross national product, mass bankruptcies and unemployment, and a decrease in the living standards of the population.
Atlevel and quality life, income of the population
Standard of living(welfare level) - level material well-being, characterized by the volume of real per capita income and corresponding consumption.
Personal income (cash) is used to pay expenses. Income depends on what production factors the person owns. If these are labor resources, then for your work he receives wages, if capital, then for its investment the owner of the capital receives a part of the profit ( dividends, percent), if Natural resources(for example, land), then the income of the owner is rent. Income provides current consumption and is also set aside as savings. At the same time, the analysis of the structure of expenditures serves as a source of extremely important data for assessing the state of affairs in the economy of any country.
"Kamquality of lifemzni"- an indicator of general well-being human, which is broader than purely material security (cf. standard of living).
The quality of life may depend, for example, on the condition health, content problems to be solved, freedom from stress and excessive concern, organization leisure, level education, access to cultural heritage.
Eeconomic growth: essence, types, factors
Economic growth and its problems. Economy types growth. There are two types of economic growth: extensive and intensive. With the extensive type, economic growth is achieved due to the quantitative increase in factors of production while maintaining its former technical basis. With an intensive type of economic growth, an increase in the scale of output is achieved through a qualitative improvement in the factors of production: the use of more advanced means of labor and more economical objects of labor, the improvement of the skills of the workforce, and also by improving the use of the existing production potential. In real life, extensive and intensive factors...........