Abstract

Rationale The article deals with the stabilization measures, undertaken by the euroarea countries in order to overcome the negative effects of the financial crisis of 2008 – 2011.

Objective The main goal of the conducted research was to determine the efficiency of measures aimed at the recession recovery on the basis of the crisis situation emergence reasons identification, the interstate stabilization plan description as well as the national anti-crisis programs research.

Methods During the research the scientific methods of etrostpective analysis, reason-consequence connection and comparative analysis have been employed.

Conclusions and Relevance The results achieved in the process of implementing stabilization measures have been assessed as well as the unresolved problems have been characterized. The potential directions of activities for countries to reestablish macroeconomic stability have been defined.

Keywords: Financial and economic crisis, stabilization policy, fiscal policy, refinancing of the banking system, unemployment, economic growth, economic development.

Abstract.

The article presents the financial relations of environmental management tax regulation and tax distribution among budgets. The mineral extraction tax (MET) becomes the linchpin of the regulatory charges for the extraction in the Russian Federation. The federal budget receives the major part of entire revenues from extraction and export of petroleum and gas. At the context of petroleum demand and price reduction which appers to be a threat to the national financial security. The main goal of the research was to substantiate the necessity of the other of taxes for natural resources role increase such as taxes for the usage of wood, water and land resources, fauna and water biological resources usage fees and also the effluent tax. In the present paper the following objectives have been attained: the structure of the natural resources tax system has been analyzed; the analyzis of their role in budget revenues has been made; the stracture of the tax system for the natural resources exploitation in the European Union has been considered as well as the methods and tools to improve the taxation of the natural resources exploitation improvement have been proposed. The scientific methods of dialectics, system, analyses, and economy statistics have been employed within the conducted research. It has been concluded that the enhancement of other taxes for natural resources efficiency allows not only to grow the budgetary reveenues but also to stimulate the effective usage of natural resources al well as the technical and economic development of our country.

Keywords: tax, taxation of natural resources; tax regulation; tax methods and instruments; efficiency of taxation.

Abstract.

This article deals with the problem of the preparation and disclosure of the commercial banks financial statements in the current context for the development of measures on improvement of information support of the activities of credit institutions, supervision, audit, partners and banks clients. The specificity of modern development of the banking sector, determining the evoloving directions of the financial statements prepartin and disclosure has been studied. It has been noted that the main factor of banking development and successful activity is the development of new information forms and upgrading the information analysis systems. Special attention should be given to ensuring of the compliance with increasingly complex legislation in the financial sphere and in the sphere of information protection as well as to improvement of the methods and measures of information disclosure and optimizing the composition of the prepared reports. It is also necessary to increase the efficiency of information and analytical support which includes the infrastructure costs reduction.

Keywords: accounting, account forms, accounting disclosure, informational risk, informational and analytical support

Abstract.

Rationale The risk management introduction to the private enterprises’ activity has a doubtless impact on the reputation and performance of the firm. As a result, the majority of stakeholders interested in cooperation with the selected company should analyze the availability and effectiveness of internal risk management systems in any case. In order to predict the results of cooperation the investment projects efficiency assessment methods are applied, where the project discounting rate, demonstrating the analysts attitude to risk, appears to be the main index.

Objective The main goal of this study was to develop a method for estimating the discount rate, calculated in the light of the integrated business risk indicators determined indirectly on the basis of stakeholder expectations.

Methods Qualitative and quantitative research methods have been employed within the conducted research.

Conclusions and Relevance The study revealed the most important indicators reflecting the stakeholders’ expectations in the field of risk management companies. The proportions of their influence on the overall ranking of the risk management effectiency have been defined as well as the discount rate was calculated with due regard to the degree of risk management efficiency for a number of Russian companies.

Keywords: corporate risk management, the discount rate, the effectiveness of risk management stakeholders.

Abstract.

Rationale The article deals with social networks as a communication tool of food retail chains with their target audience.

Objectives The main goal of the article was to study the activity of Russian retail trade enterprises in social networks as well as to develop the recommendations for its improvement.

Methods The scientific methods of analysis (including content analysis), synthesis, induction, deduction, comparison, and grouping have been employed with the conducted research.

Conclusions As a result of the research, an approach to the analysis of the retail trade enterprises activities in a social network based on an assessment of the content and users (customers) preferences has been suggested. The activity of retail company “Dixy” in a social network “VK.com” has been analyzed and the specific measures for its improvement have been proposed. The general principles and recommendations to retailers in the social networks have been formulated. Implementation of the proposals presented in this paper will allow commercial organizations to improve the social networks activities efficiency that will consequently help to improve the firm economic performance at general.

Keywords: Internet, social networks, trade, retail trade, business organization, business, content analysis.

Abstract

Rationale The article presents the intangible assets as a tool to improve the efficiency of retail structures. The main goal of the study was to identify the factors affecting the efficiency of the intangible assets usage in the retail trade and to propose on that basis a set of measures aimed at the improvement of the retailers’ intangibles and, consequently, the increase of their activities efficiency.

Methods Such scientific methods as analysis, comparison, classification and grouping have been employed within the current research.

Conclusions The effective usagee of intangible assets in the retail industry depends on factors determined by the nature of intangibles, factors related to the intangible assets of the organization, external and internal factors and also the meso-environment factors. The instruments of intangible assets of retail improvement in order to enhance its effectiveness should include the protection of rights on intangible assets, accounting policies, insurance, optimization of resource potential of retail enterprise, monitoring and interaction with the meso-environment, monitoring of the external environment of retail enterprise and the the special qualities of intangible assets usage.

Keywords: intangible assets, intellectual property, retail, retail enterprise, factors, performance, trade performance.

Abstract.

The impact of both the economic globalization and the economy’s integration into the world economy on the new business environment formation and the creation of the intellectual property protection standards has been analyzed. The distinctive features of the intellectual property as regards to the other types of assets have been studied as well the results of intellectual activity, confirmed by patents. The aspects of intellectual property economics have been analyzed a set of data on the economic, informational and mathematical scopes and the range of techniques and methods of intellectual property implementation in order to increase the efficiency of the national economic performance in general. The intangible nature of intellectual property and the characteristic of its customer value have been determined. The necessity of permanent financing of intellectual activity has been proved. The intellectual labour has been studied as an independent economic value and it has been concluded that the intellectual products have characteristics of public goods. Special attention has been paid to the main problems of intellectual property in the implementation and usage of inventions, in particular related to the peculiarities of legally protected copyright certificates and industrial patterns protected by the certificate and also to the special aspects of remuneration or compensation payments for the usage of their intellectual property.

Keywords: intellectual property; protection of intellectual property standards; patent; license; results of intellectual activity; The Civil Code of the Russian Federation; economy of intellectual property; TRIPS Agreement; intellectual activity; the patent system; human capital

Abstract:

Rationale This article deals with the accounting of commercial organizations’ physical cash based on the analysis of general offenses and the modern legal regulation requirements to investigate these violations.

Objective The main goal of the present paper was to examine the provisions and requirements of the Russian statutory regulation on the organization and management of cash transactions. The following objectives have been attained: the modern institution of phusical cash accounting has been analyzed as well as the key offenses in this sphere have been determined. The statutory regulation and procedures of forensic accounting of cash transactions has also been studied.

Methodology Improving the methods of organizing and conducting of cash transactions and the usage of methods of forensic accounting to investigate cash discipline violations in order to strengthen the control over the safety of money in the economic entity.

Conclusions and Relevance Qualitative performance of expert work to investigate cash discipline violations depends on the practical and professional experience of the expert accountants thus the requirements for this type of skill should be statutory fixed in the legislation. Knowledge and competent use of the legal requirements in the implementation of financial, operating and investment activities of any organization (company or enterprise) will help to organize a proper accounting and control of the cash movement, to prevent possible abuses and to use legal measures to recover damages.

Keywords: Accounting cash transactions, cash, business entity, legal and legislative regulation, methods of forensic accounting, operations of the accountant expert.

Abstract.

Subject/topic This article is a result of the research performed within the “Actual problems of accounting and reporting in Russia” studying course. The subject of this article is the mateer of combining complexity of simplified taxation system and uniform tax on imputed income system. The research has been performed on the basis of small business entity LLC “Nika”, which produces and sells wedding dresses. From January 1, 2016 LLC “Nika” combines simplified taxation system and a uniform tax on imputed income system.

Objective The main goal of this article was to find reasonable accounting methods in the context of the special taxation systems combining and aimed at the tax optimization. The main objectives attained were to identify the features of accounting under the simplified taxation system and the uniform tax on imputed income system as well as to analyze the peculiarities of accounting in case of combining the simplified system of taxation and the uniform tax on imputed income system.

Methodology The scientific methods of analysis of the legal framework as well as the statistical method, comparative and logical methods have been employed within the conducted research.

Conclusions and Relevance The simplest and most effective way to organize separate accounting in case of combining taxation systems is to set up sub -accounts within the accounts, involving in transactions related to activities under different taxation systems. It helps to simplify the process of determining the amount of income and expenses for each activity. However, it is often quite difficult to split up the costs between activities in practice. Therefore, the Tax Code of the RF recommends allocating the general administrative expenses within different activities in proportion to the relevant revenue in the total revenue of the entity. In addition, revenues should be determined on an accrual basis throughout the year for the correct allocation of expenses

Keywords: special taxation system, small business entity, simplified taxation system, taxation system as a uniform tax on imputed income, separate accounting

Abstract

The risk appers to be the one of the most important factors of any company’s activity. All areas of the company’s activities are aligned with taxation. Therefore, the tax risk management is an important element of the management of the company as a whole. This article deals with the determination of the organization tax risk causes of occurence. The main goal of the article was a confirmation of the hypothesis on the effect of accounting and tax treatment differences at the company’s tax risk. During the conducted research numerous literary sources have been analyzed and significant interactions of the risk and differences in tax and accounting expenses of the company have been found. This research results allow to conclude that this difference in accounting and tax treatment leads to various errors in the calculation of the tax base and present as the one of the company tax risk causes.

Keywords: tax risk, financial reporting, accounting, tax accounting, tax base.

Abstract

Rationale The methodology of the economic analysis is undergoing the stage of rapid development accompanied with the search for a new development paradigm and new evaluation methods. Further development of the economic analysis is based on an interdisciplinary approach with the creation of a new philosophy of economic analysis of the post-industrial era.

Objective The main goal of the current research was the improvement of both the theoretical and methodological foundations of economic analysis of status and functioning of the economic entity.

Methods General and special scientific methods of cognition compose the methodological basis of the current research. The objective was ensured by employment such methods as economic analysis, synthesis, comparison, induction and deduction.

Conclusions and Relevance The direction for the further development of the economic analysis methodology through the elaboration of a new development paradigm has been set. The identification of system concepts for economic analysis and system standards for economic analysis development, covering analytical procedures at different stages of the economic entity conditions diagnostics, has been given.

Keywords: economic analysis, paradigm, phenomenology, standardization, the concept of economic analysis, the syllogism of the economic analysis methodology economic analysis

Abstract.

Rationale The article deals with the features of the special disciplines teaching for the undergraduate students in the conditions of vagueness and crisis phenomena in both the national economy of Russian Federation and world economy on the example of “Banking” course.

Objective The main goal of the conducted research was to show the variety of the formed economic trends and decision of tasks on its development and overcoming of the negative phenomena by means of the particular programs of credit organizations and new banking products. The objectives attained during the current research include study of the role and features of banks joint activities with other organizations, definition of positive and negative aspects of such the activities of regional authorities and bank associations.

Methodology The methods of analysis and synthesis, induction and deduction, method of comparison, systemic analysis, sampling observation and the statistics usage have been employed within the conducted research.

Conclusion and Relevance The concentrationof students’ attention on the negative aspects of banking activities and economic indexes can form the negative perception of reality among the young people which can not conduce the patriotic education and cause apathy and despondency as well as sense of frustration. Thus it is very important to find and concentrate on the positive aspects of the modern banking practices explaining in details their advantages and influence on the national economy.

Keywords: GDP, arrears, banking products, investments, risk, financial and credit levers

Abstract

Rationale On March 03-04, 2016 the Financial University hosted an international scientific conference “Reproduction of Russia in the XXI century: dialectic of controlled development” dedicated to the 80th anniversary of the “General Theory of Employment, Interest and Money” by J.M. Keynes publication. This article appears to be the report on a work of the conference.

Objective The main goal of the conference was the interdisciplinary discussion of the key problems of modern Russia as a part of changing world and searching for ideas, models and mechanisms of national economic policy reorientation towards new industrialization on the basis of the high-tech industry development.

Conclusions and Relevance At the present time the global “”unregulated” neoeconomy” faces the permanent crisis – the system crisis, a total crisis, the crisis of global scale. Western economic sanctions and objective limitations of raw materials export model are the realities of modern Russian economy.

Keywords: national economy, Russia, reproduction, controlled development, Keynesian theory, regulation of the economy, political economy

Abstract.

The object of study of this article is a systemic risk of Russian financial system. The research subject is the set of organizational and economic relations that arise in the process of economic and mathematical modeling of the financial system sustainability indicators and their relations with the stability and solvency. The relevance of the study is based on the fact that in the current context increase of the risks and uncertainties probability, strengthening of globalization and integration processes in the world economy modeling and prediction of the dynamics of indicators of the financial system is a process that needs constant monitoring and evidence-based practical assessment of the economic efficiency and quality implementation. As a result of the research the structural elements of systemic risk profile of the financial sector have been proposed, an assessment of the correlation relations of the financial system highlighted factors and efficient features have been made as well as the economic and mathematical model of critical indicators has been developed.

Keywords: risk profile, the correlation of GDP, assets, capital adequacy ratio, the crisis

Abstract.

Rationale The consolidation of banking institutions, liquidation of unsustainable credit institutions and the rehabilitation of troubled banks have become the modern trends of the Russian banking system development. In the context of the considerable increase of cases of Russian banks reabilitation, the Deposit Insurance Agency cannot fully cover the entire range of the troubled banks, so the usage of sanitation methods by the investing banks appears to be a pressing ,matter.

Objective The main goal of the study was to develop ideas about the premises to the Russian banking system concentration based on bank resolution.

Methods The current trends in the field of financial recovery of the Russian banking system have been assessed by means of economic and statistical methods and structural and dynamic coefficient analysis.

Conclusions and Relevance The article describes the causes of the financial instability of the Russian banks as well as the ways and methods of their rehabilitation activities.

Keywords: bank, banking, bankruptcy, financial condition, reorganization, restructuring.

Abstract

Rationale At the present time innovations are implemented almost in every sphere of our day-to -day life, including economics and the banking sector which appears to be one of the major components of the abovementioned shere is not an exeption. The present article deals with the analysis of the formation, modern develoment and future prospects of commercial banks’ activity in Russia. In pthe article presented, such terms as «private banking» and «e -banking» have been defined as well as the services for VIP clients of six Russian banks and the rating of the best bank for wealthy customers have been outlined. Moreover, the avantages and disadvantages of private banking and services of online banks in Russia have been described. The main conclusions of the following article have been formulated by means of the theorethical aspects evaluation and detailed investigation of the most frequently used innovative products and technologies in Russia. Objective The main goal of the work was to analyze a process of innovation technologies development in Russian commercial banks. The objectives were as follows: to investigate the innovative products available in this market sphere; to analyze the activity of a range of Russian banks; to define the problems and percpectives of the studied relations.

Methodology The the statistical and analytical research methods as well as comparison, causation and incidence technics have been employed during the conducted research.

Conclusions and Relevance The present work identifies the level of innovations’ implementation in the banking activity, defines such terms as private banking and online banking, describes the modern conditions in the banking services market and allows to evaluate current problems and possible percpectives.

Keywords: banking operations, innovative products, technology, private banking, e-banking.

Abstract

Rationale The present article deals with the accounting transactions of mergers and acquisitions deals.

Objective The main goal of the conducted research was to describe the algorithm of business combination transactions accounting

Methods The methods of analysis and synthesis, induction and deduction, method of comparison, systemic analysis, sampling observation and the statistics usage have been employed within the conducted research.

Conclusions and Relevance: Goodwill and non-controlling interest accounting are the main specific features of the consolidated financial statements arising from the business combination drawing up. The article presents the practical aspects of accounting transactions for the business combination, which depend on how the business acquirer obtains the control over it. The step-by-step method of accounting of transactions for the business combination has been analyzed by the author. The process of businesspurchasing from the point of view of its further consideration, in author’s opinion, should begin with identification of the main aspects – identification of the acquirer, determination of the date of acquisition, identification and assessment of damages and the acquired assets and liabilities, the identification and assessment of non-controlling interest and goodwill. In this article it is concluded that under the conditions of complex economic relations it seems to be difficult to methodically consider all aspects of the business acquisition so that it is necessary need to build an algorithm to optimize subsequent accounting transactions for the business combination and the reflection of such transactions in the consolidated financial statements.

Keywords: international financial reporting standards, business combinations, registration, identification, non-controlling interest, goodwill, assessment

Abstract.

The subject of this research was the financial relations among state and gas and petroleum sectors’ enterprises. The main goal of research was to analyze the modern conditions and perspectives of petroleum sector taxation improvement in the Russian Federation. In this article the following objectives have been attained: the role of the gas and petroleum sector in the Russian economy has been defined, the defects in branch taxation have been revealed as well as the tax regulation of abovementioned branch in the contemporary crisis has been regarded. It has been proved, that without changes in methods and instruments of tax regulations, the improvement of this sectors would not be possible. In this article such measures for increasing of tax regulation efficiency have been proposed as the development of common methods for calculations tax load, transformation of branch tax privileges as well as financial sanctions toughening for the effluent tax. The scientific methods of dialectics, systemic approach, analysis, and statistics have been employed during the conducted research. It has been concluded that it is necessary to improve the taxation efficiency towards the investments projects stimulation, development of chemistry, petrolchemisry and oil industry branches and reduction of the economic dependence on the export of gas and petroleum.

Keywords: tax, taxation of oil and gas; tax regulation; tax methods and instruments; efficiency of taxation.

Abstract.

Rationale The high volatility of the exchange rate over the past two years significantly increased the effect of currency revaluation on the income statement of banks.

Goals / objectives The main goal of this work was to study the currency revaluation of the economic substance and the development of the methods for the foreign exchange revaluation of the loan and the the income statement provision in a single article. The main objective was to increase reliability of statements.

Methodology The current method of allocation of currency revaluation on loans, its accounting and the impact on the balance sheet and income statement of the bank has been considered as well as the comparative analysis of the cost of risk (CoR) calculation before and after the foreign currency revaluation reserve allocation has been conducted.

Conclusion The study identified the peculiarites of the revaluation of the loan currency reflection. Allocation of monetary revaluation reserves significantly increases the accuracy of the reporting and the indicators calculated on that basis.

Keywords: currency exchange, cost of risk, currency loan, allowance, banking system, statements reliability, bank