Economy Business Banks №6(44)




Alexander S. Rodionov

PhD in Technical Sciences, Professor, Academician of the International Academy of Informatization, Professor of the Department of Risk Analysis and Economic Security, Director of Scientific and Information Consulting Center of safe life and work, Financial University under the Government of the Russian Federation, Moscow, Russian Federation, President of Graduate School MВА «IntegraL» (Corporate University).


Proactive risk-oriented approach to the analysis of the demand for innovation in the countries of the world


Subject / Topic The study focuses on the value innovation. The virtual world and augmented reality form bifurcation innovations. Inherently progressive, expanding the limits and possibilities of civilization, they alarm with the consumer approach. Replacing the sensory perception of the world with its digitized analogue is a real threat of turning a person into a biorobot.

Goals / Objectives Based on a system analysis, to propose a proactive risk-based approach to innovation. To show the dichotomy of digital technology, by analogy with nuclear energy: increased wealth or mental warfare. To emphasize the value of education in the “Battle for the Mind”, the formation of mental energy to realize the goals of graduates of schools and universities.

Methodology The author’s paradigm of normal life activity, phenomenological analysis, synergetics, trialektics, similarity methods, divergent and convergent thinking, analysis and synthesis, induction and deduction, scenario forecasting.

Conclusions and Relevance As part of a risk-based approach to the analysis of demand for innovations in the countries of the world, key trends in the digitalization of the life of economic entities and the population as a whole were identified. The economic, environmental, social and cultural risks for humanity as a result of the introduction of problematic innovations are defined.

Keywords: author’s paradigm, normal life activity, digital economy, social Darwinism, antiNBICS technologies


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Rodionov, Kupriyanova (2019) – Rodionov A.S., Kupriyanova L.M. The risks of capitalization: scenario planning // Economy. Business. Banks. [Riski intellektualizatsii kapitala: stsenarnoe planirovanie //Ekonomika. Biznes. Banki.] 2019, No. 7 (33). p. 19-37

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Rodionov (2019) – Rodionov A.S. Investments in safe life: preservation, level, lifestyle, quality. //Economy. Business. Banks [Investitsii v bezopasnuyu zhiznedeyatelnost: sohranenie, uroven, uklad, kachestvo. //Ekonomika. Biznes. Banki.] 2019, No. 3 (29). p.54-66

Bezdenezhnyh, Rodionov (2017) – Bezdenezhnyh V.M., Rodionov A.S. Proactive risk-based approach in scenario planning of business entities // Economy. Taxes. Law. [Proaktivnyiy risk-orientirovannyiy podhod v stsenarnom planirovanii deyatelnosti hozyaystvuyuschih sub’ektov // Ekonomika. Nalogi. Pravo]– 2017. – Volume 10, No. 6 (December). – p. 76- 83.

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Rodionov, Kupriyanova (2019) – Rodionov A.S., Kupriyanova L.M. Effective administration of risk management in the real time formation of the digital economy of Russia. Economy. Business. Banks. [Effektivnoe administrirovanie risk-menedzhmenta v rezhime realnogo vremeni stanovleniya tsifrovoy ekonomiki Rossii. Ekonomika. Biznes. Banki.] 2019.No 9 (35). p. 81-95

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The article was received on 4.06.2020; accepted for publication on 28.06.2020. The authors read and approved the final version of the manuscript.


Irina I. Bychkova

Department of State, Municipal Finance and Financial engineering, South Federal University, Rostov-on-Don.


The impact of digital currencies on the global economy


Subject/Topic The transition from the traditional form of existence of money to digital. The article examines the evolution of modern money in the digital space, reveals the current forms of existence of digital money, the advantages of their use by legal entities and individuals over traditional forms of payment, specifies the possible prospects for the development of this form of payment and the existing risks for the world economy.

Goals/Objectives Goals: to analyze the current transformation of traditional money into digital forms and their consequences for the world economy. Objectives: to determine the current forms of existence of digital money; to determine the advantages of using digital money by private individuals and companies issuing them; to identify possible risks of implementing this form of settlement for the world economy as a whole.

Methodology The methodology is based on logical, system-functional and situational analysis, methods of grouping and monographic survey.

Conclusions and Relevance The low level of use of digital currencies is revealed, mainly due to the lack of their provision with real currency. At the same time, the use of digital money has a number of advantages, which indicates their possible expansion. In this situation, the key task of financial regulators is to closely monitor the development of digital currencies and develop a legal framework for their possible use.

Keywords: digital currency, banking system, stablecoins, derivative, economy.


New wave of digital currencies // analytical report of Sberbank of Russia. 02.12.2019 [in Russian]

Investigating the impact of global // G7 working group on Stablecoins. October 2019 [in English]

Tobias Adrian, Tommaso Mancini-Griff The rise of digital money // FINTECH notes, note/19/01 [in English]

Virtual currency schemes // European Central Bank, Eurosystem, October 2012 [in English]

William Mitchell, L. Randall Ray, Martin Watts Macroeconomics // Red globe Press [in Russian]

Kiselev Is there a future for digital currencies of Central banks // Analytical note, Bank of Russia, April 2019 [in Russian]

Staff Working Paper No. 724 Broadening narrow money: monetary policy with a central bank digital currency Jack Meaning, Ben Dyson, James Barker and Emily Clayton, Bank of England, May 2018 [in English]

Regulatory issues of stablecoins // FSB Financial Stability Boards, 18 October 2019. [inEnglish]

The article was received on 4.06.2020; accepted for publication on 28.06.2020. The authors read and approved the final version of the manuscript.


Olga V. Zakharova

Master of Economics, Senior lecturer of the Department of Financial markets and banks, Financial University under the Government of the Russian Federation, Moscow, Russian Federation. E-mail:

Anastasia D. Sergeeva

3d year student of the Financial markets Faculty, Financial University under the Government of the Russian Federation, Moscow. E-mail:

Evolution of company value management concepts


Subject / Topic The features of systemically important banks and their role in the banking system of Russia.

Goals / Objectives The analysis of systemically important banks from an institutional point of view, indicators of their allocation in Russia, classification according to the following criteria: form of ownership, regional affiliation, presence of a branch network. The authors assess the credit and investment potential of these types of banks, determine the main directions for implementing the credit and investment policy of systemically important banks.

Methodology The main research methods are: the study of statistical data, reviews, analytical studies, analysis, comparison and generalization. The paper analyzes the structure of liabilities of systemically important banks, the structure of the loan portfolio, examines the rate of return on borrowed funds.

Results Based on the analysis, the authors make an attempt to highlight the positive and negative consequences of the allocation of this group of banks, determine the most significant features of banks of this type.

Conclusions and RelevanceAs a result of the study, the features of the systemically important banks in the Russian banking system which can be used to  classify them are studied, the main problems associated with the further development of systemically important banks in Russia are identified, arguments for the importance of developmentof systemically important banks in the national economy are given.

Keywords: credit organizations, banking system, systemically important banks, credit investment potential of systemically important banks, yield ratio of raised funds, loan portfolio.


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Optimization of the structure of the Russian banking system [Optimizacia structure bankovskoi sistemi Rossii]. Monograph / Lavrushin O.I. – Moscow: KnoRus, 2020 – 184 p. [in Russian]

Shulgina (2019) – Shulgina M.V. Relationship of banks classification by level of systemic importance and financial stability [Vzaimosviz klassificacii bankov po urovnu sistemnoi znachimosti I financovoi ustoichivosti] -//Banking services [Bankovskii servis] 2019, #3. Pp. 26-32.

Abramova, Dubova, Maslennikov (2018) – Abramova M., Dubova S., Maslennikov V. Banks as the actors of a modern monetary policy in Russia: effects of exposure on the economy // Journal of Reviews on Global Economics. 2018, #7. Pp. 406-416.

Bezrodna, Ivanova, Onyshchenko, Lypchanskyi, Rymar (2019) – Bezrodna O., Ivanova Z., Onyshchenko Y., Lypchanskyi V., Rymar S. Systemic risk in the banking system: measuring and interpreting the results// BanksandBankSystems. 2019. V. 14.  # 3. p. 34-47.

The article was received on 4.06.2020; accepted for publication on 28.06.2020. The authors read and approved the final version of the manuscript.


Magomed A. Bayramkulov

Analyst KPMG JSC, Bachelor of Economics, Faculty of Business Analysis and Audit, Financial University under the Government of the Russian Federation Moscow. Email:

Evolution of company value management concepts


Subject / Topic The article considers the evolution of the concepts of management of a commercial organization value.

Goals / Objectives To determine the value of a commercial organization and the degree of influence of various factors and methods used to evaluate it. The objectives of the study are: the consistent and integrated use of business intelligence tools that help identifying factors and reserves for the growth of company value and the formation of an objective and sufficient information basis for making management decisions aimed at ensuring the sustainable functioning of the business.

Methodology Analysis of foreign scientific literature on a given problem and the experience of large corporations.

Conclusion and Relevance The main goal of public companies is to create and maximize value for their shareholders. In this regard, the article suggests the experience of corporate value management concepts based on the work of foreign academic authors on financial and strategic management.

Keyword: business value, company value management, management decisions, business sustainability.


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The article was received on 24.05.2020; accepted for publication on 12.06.2020г The author has read and approved the final version of the manuscript.


Andrey A. Gorbachev

Master of Economics, Faculty of Economics and Finance of oil and energy complex,Financial University under the Government of the Russian Federation, Moscow, Russia.


Supervisor: Irina A. Merkulina, Doctor of Economic Sciences, Professor of the Department of Business economics, Financial University under the Government of the Russian Federation, Moscow, Russia. E-mail:

Application of discriminant models of financial sustainability assessment in oil and energy complex organizations


Subject/Topic In this article the application of discriminant models of financial sustainability assessment by domestic and foreign authors in oil and energy complex organizations was demonstrated.

Goals/Objectives The problem of financial sustainability assessment is actual again. Modern economic conditions are characterized by a high level of uncertainty, connected with the current problems in economy and politics. The most important aspect here is the threat of bankruptcy in oil and energy complex organizations. The question is how to define it. In the last century financial sustainability assessment models began to be developed. In some articles these models were called bankruptcy models. To date, a lot of domestic and foreign models for assessing the financial stability of organizations have been developed. Due to the existence of so many models for assessing the sustainability of an organization, it is necessary to find only those models that could be applied to functioning organizations of the oil and energy complex. Due to the existence of several approaches to the formation of assessment models, this work will demonstrate a discriminant approach to determining financial sustainability on the example of organizations of oil and energy complex.

Methodology In this article analysis, comparison, modeling, experiment and other methods of researching were used.

Conclusions and Relevance In this article the most accurate discriminant models of financial sustainabilitywere determined, which can be used in oil and energy complex organizations. Some problems of their use were identified. The way to solve the problem of using these modelswas proposed – to develop and use industrial discriminant financial stability assessment models, in our case – discriminant financial stability assessment model for oil and energy complex organizations.

Keywords:  Discriminant model, financial stability, oil and energy complex organization


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The article was received on 24.05.2020; accepted for publication on 12.06.2020г The author has read and approved the final version of the manuscript.


Marina A Kalinina

PhD in Economics, Associate Professor, Financial University under the Government of the Russian Federation, Moscow.


Retaining customers through digital communication mix


Subject/Topic This paper research evaluates and analyses how digitalization era influences new marketing strategic decisions in order to capture and retain customer’s attention, more than that – turn customers into loyal customers, provide long-life values. Different variety of social media that exists nowadays in all kinds of markets has reached its highest point and no longer as efficient. Customers are losing interest towards SMM etc. The trend, that shaping 2019, is combining digital and conventional methodology and working out new concept for communication mix, that could be more oriented towards customer’s values and needs, more effective and efficient.No doubts that digital means of communication have opened new opportunities for all kinds of markets, such as destination marketing, co-branding with other industries, working with big data, collecting, processing and managing different kind of information, changing channelling infrastructure, etc. A lot of functions could not even be fulfilled without digitalization, that brought to the new needs and wants.

Goals/ObjectivesOne of the main goals of the paper is customer’s behavior analysis in contemporary world, it’s changing needs and wants, priorities within destination market, tourist market.

As a result of customer’s changing portrait, companies are needed to be adopted to the new circumstances – that’s another topic for research and investigations.

Methodology The implementation of the tasks is carried out through the use of domestic and foreign literature on this topic, using cabinet and field research (observation methodology in particular, examining customer’s behavior and their relationship with stakeholders). Methods of analysis, processing and generalization of information were also used.

In order to fulfill the task in depth, analysis of consumer behavior (from conventional to the digital, customer’s changing needs, wants and demands in new environment), as well as new business strategic decisions, adapted to the new realities, was needed.

Conclusion and Relevance There is no doubt that digitalization process is opening new opportunities and also initiates new market development, such as  destination market, sharing economy and joint ownership, big data, it changes logistic infrastructure, etc. More customer’s involvement to the production, research and marketing activities is needed, as well as forwarding fulfillment of main functions and responsibilities towards customers, initiating peer-to-peer development.

Keywords: Glorecalization, social media platform, conventional marketing, synergy affect, online & offline communication mix.


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The article was received on 4.06.2020; accepted for publication on 28.06.2020. The authors read and approved the final version of the manuscript.


Darya A. Bartashevich

student of the Faculty of Sociology and political science, Financial University under the Government of the Russian Federation, Moscow,


Supervisor: Nadezhda V. Rebrikova, PhD in Economics, Associate Professor of the Department of Personnel Management and Psychology, Financial University under the Government of the Russian Federation”, Moscow.


Development of the market of specialty coffee in Russia: socio-cultural and economic aspects


Subject / Topic The subject of the research is the market of specialty coffee shops in Russia, as well as the study of coffee preferences of visitors to coffee shops in our country. The author has analyzed the Russian coffee market, compared its level of development with the European market of specialty coffee, and paid special attention to the trends and prospects of the market development today.

Goals/Objectives The main goal of the research is to analyze the market of specialty coffee shops, identify the main trends and directions of development, and provide an overview of coffee drinks popular in the country.

The main tasks of the research include: analysis of data on the coffee market in Russia, as well as the development of recommendations and directions for further market research.

Methodology In the course of the work, the author used content analysis of information, conducting his own research on the European coffee market, as well as interviewing owners of small coffee shops in the regions.

Conclusions and Relevance As the results of the study the main trends in the development of the coffee market were identified, the place of the Russian market of specialty coffee was determined in comparison with the European market. The recommendations for coffee shops were presented, how to remain unique and competitive in a developing segment, as well as methods by which coffee shops can attract customers and remain competitive.

Keywords: specialty-coffee market, specialty culture, alternative, classical methods of brewing, the prospects of development of specialty-coffee market


Dzhejms Hoffmann: The world Atlas of coffee. From the bean to the Cup. Guide to countries, varieties and cooking methods[Vsemirnyj atlas kofe. Ot zerna do chashki. Putevoditel’ po stranam, sortam i sposobam prigotovleniya], Moscow: Palmira, 2018.

Dmitrij Denisov. Professional coffee. The Barista’s Bible. [Professional’nyj kofe. Bibliya barista]. Moscow: Restaurant Vedomosti, 2004.

Strategies of leading coffee shops for successful business in this market segment (on the example of a Starbucks coffee shop). [Strategii vedushchih kofeen dlya uspeshnogo vedeniya biznesa v dannom segmente rynka (na primere kofejni Starbaks)] – Bartashevich D.A. – Management science in the modern world [Upravlencheskie nauki v sovremennom mire] Collection of scientific and practical conference reports. 2019. Realeconomypublishinghouse (SaintPetersburg). UDK. 336, p.299-305

The article was received on 03.05.2020; accepted for publication on 12.06.2020г The author has read and approved the final version of the manuscript.


Magomet O. Uzdenov

bachelor student of the North Caucasus Federal University, Pyatigorsk.

E-mail: uzdenov.magomet.

Valuation of financial resources of the organization


Subject / Topic The article analyzes the definition of “financial resources” of a commercial organization, their classification. The ways of forming financial resources of commercial organizations are considered. A system of indicators for assessing the effectiveness of the formation of financial resources is presented. The results of the study presented in this article can be used in the practical activities of economic entities in assessing financial resources, materials can be used in the training, retraining and advanced training of specialists in the field of financial management of commercial organizations.

Goals / Objectives To explore the effectiveness of the formation of financial resources based on various methods of economic analysis and financial management. The objectives of the study are: to analyze of the definition of “financial resources”, their classification, to study the formation of financial resources and evaluation of the total effectiveness.

Methodology Analysis of methodological and scientific literature on the formation of financial resources and assessment of their effectiveness.

Conclusion and Relevance The policy of formation of the organization’s financial resources is to provide the most effective forms and conditions for the formation of the enterprise’s financial resources from various sources in accordance with development needs. The main objective of the formation of  financial resources of an enterprise is to satisfy the need to acquire the necessary assets and optimize their structure with the condition of their effective use.

Keywords: financial resources, equity, profit, efficiency, cash, profitability.


Abryutina (2014) – Abryutina M.S. Analysis of financial and economic activities of an enterprise: Textbook / M.S. Abryutin [Analiz finansovo-ekonomicheskoy deyatelnosti predpriyatiya: Uchebnik/ M.S. Abryutina]. – M.: Business and service [Delo i servis], 2014. – 377 p.

Analysis of financial statements: a training manual / team of authors; edited by Barilenko V.[Analiz finansovoy otchetnosti: uchebnoe posobie/kollektiv avtorov; pod obschey redaktsiey Barilenko V.I.]. – 4-e izd.pererab. – M.: KNORUS [KNORUS], 2016. – 234 p.

Balabanov (2014) – Balabanov I. T. Fundamentals of financial management. How to manage money? [Osnovyi finansovogo menedzhmenta. Kak upravlyat kapitalom?] / I.T. Balabanov. – M.: Finance and Statistics [Finansyi i statistika], 2014. – 384 p.

Balancing: Textbook. allowance. Series “Higher Education” / N.A. Breslavtseva, I.N. Rich, V.P. Astakhov et al .; under the editorship of N.A. Breslavtseva [Balansovedenie: Ucheb. posobie. Seriya «Vyisshee obrazovanie» / N.A. Breslavtseva, I.N. Bogataya, V.P. Astahov i dr.; pod red. N.A. Breslavtsevoy]. Rostov-on-Don: Phoenix [Rostov-na-Donu: Feniks], 2019.-215 p.

Accounting (financial) reporting: textbook. allowance / ed. prof. Y.I. Sigidova and prof. A.I. Trubilin. [Buhgalterskaya (finansovaya) otchetnost: ucheb. posobie / pod red. prof. Yu.I. Sigidova i prof. A.I. Trubilina]. – M.: INFRA-M [INFRA-M], 2018. –455 p.

Varlamova (2017) – Varlamova T.P. Financial Management: Textbook / T.P. Varlamova, M.A. Varlamova. [Finansovyiy menedzhment: Uchebnoe posobie / T.P. Varlamova, M.A. Varlamova]. – M.: Dashkov and K [Dashkov i K], 2017. – 304 p.

Gerasimenko A (2016) – Gerasimenko A. Financial management is simple: A basic course for managers and beginner specialists / A Gerasimenko. [Finansovyiy menedzhment – eto prosto: Bazovyiy kurs dlya rukovoditeley i nachinayuschih spetsialistov / A Gerasimenko]. – M.: Alpina Pablisher, 2016. – p.218.

Efimova (2019) – Efimova O.V., Nikiforova E.V., Shnayder O.V. Financial and analytical tools for sustainable development of economic entities. [Finansovo-analiticheskie instrumentyi ustoychivogo razvitiya ekonomicheskih sub’ektov]. – M.: Knorus, 2019. – 178 p.

Kandrashina (2015) – Kandrashina E.A. Financial Management: Textbook for Bachelors [Finansovyiy menedzhment: Uchebnik dlya bakalavrov / E.A. Kandrashina]. – M.: Dashkov and K [Dashkov i K], 2015. – 220 p.

Karatuev (2015) – Karatuev A.G. Financial management: a training manual. [Finansovyiy menedzhment: Uchebno-spravochnoe posobie]. – M.: M.: Publishing House FBK-PRESS [ID FBK-PRESS], 2015. – 256 p.

Kovalev (2017) – Kovalev V.V., Volkova O.N. Analysis of economic activity of an enterprise: Textbook. [Analiz hozyaystvennoy deyatelnosti predpriyatiya: Uchebnik]. – M.: BATTERY [PBOYuYa]. – 2017. – 424p.

Ovsiychuk (2015) – Ovsiychuk M.F., Sidelnikova, L.B. Financial management. Tutorial. [Finansovyiy menedzhment. Uchebnoe posobie]. – M.: Dashkov and Co [Dashkov i Ko], 2015. – 260 p.

The article was received on 01.06.2020; accepted for publication on 12.06.2020г The author ha s read and approved the final version of the manuscript.


Polina A. Litovchenko

student of the Faculty of International economic relations, Financial University under the Government of the Russian Federation, Moscow.


Ekaterina O. Chushnyakova

student of the Faculty of International economic relations, Financial University under the Government of the Russian Federation, Moscow. E-mail:

Scientific advisor: Lyudmila M. Kupriyanova, PhD in Economics, Associate Professor, Department of Accounting, Analysis and Audit, Financial University under the Government of the Russian Federation, Moscow.


Patent as the competitive advantage


Subject/Topic The article discusses the use of patents as a tool to combat competitors in the market. The priority was to study terminology on the declared topic, to identify positive and negative aspects of the patent competition, as well as to consider foreign and domestic experience of applying this type of competition on the market.

Goals/ObjectivesThe aim of the study is to determine the effectiveness of the exclusive rights application in the competitive confrontation of the modern world.

Methodology The following scientific methods wereapplied to increase the reliability of the study: analysis, comparison, description, measurement, generalization and statistics.

Conclusions and Relevance The conclusion was made, that competition based on patent confrontation is more expensive than other forms of competition in the market, and in most cases illegal, suggesting its inefficiency. It was also noted in the conclusion that patents are intended to protect intellectual property and paid use of the results of activity, which will allowthe creators of innovations to receive protection of their unique products, a premium and recognition for them. An important point is that patent rights were conceived as an engine of competition. To achieve this, it is necessary to consider all actions with intellectual property rights as separate from other market of technologies, which will allow to assess the claims filed in court, as well as threats of their filing, as a cruel instrument of competition, especially if these actions are recognized by the court to be unfounded.

Keywords: patent, exclusive right, intellectual property, instrument, method, competition, confrontation, rivals.


Kaspersky Blog. Patent as a weapon in the competitive struggle [Blog Kasperskogo. Patent kak oruzhie v konkurentnoj bor`be]. 2016. // [Electronic source] // URL: patent-trolls/4304/ [in Russian] Whose side is the chamber for patent disputes [ Na ch`ej storone palata po patentny`m sporam]. 2019. // [Электронный источник] // URL: /04/19/12310033.shtml?updated[inRussian]

The Civil Code of the Russian Federation (part four) [Grazhdanskij Kodeks Rossijskoj Federacii (chast` chetvyortaya)] from 18.12.2006 N 230-FL (ed. from 18.07.2019). [in Russian]

Kommersant. A system designed to protect the public has become a tool for competition [Kommersant“. Sistema, zadumannaya kak oxrana prav, prevratilas` v instrument konkurencii]. 2014. // [Электронныйисточник] // URL:[in Russian]

The Company “Royal Privilege”. Why do we need a patent for inventions these days [Kompaniya «Czarskaya Privilegiya». Zachem nuzhen patent na izobreteniya v nashi dni]. 2018. // [Электронныйисточник] // URL: [in Russian]

Maltseva E. A., Managing the patent portfolio of the company [Upravlenie patentny`m portfelem kompanii] / Maltseva E. A. / Legal protection, economics and management of intellectual property: proceedings of the scientific and practical conference [Pravovaya zashhita, e`konomika i upravlenie intellektual`noj sobstvennost`yu: materialy` nauchno-prakticheskoj konferencii], Yekaterinburg, April 24, 2014-Yekaterinburg: Urfu, 2014. – P. 114-118 // [Electronic source] // URL: 41031/1/pzeiu_2014_27.pdf [in Russian]

Rospatent. Annual report [RosPatent. Godovoj otchyot]. 2019. // [Electronic source] // URL:

Ushakov’s Dictionary [Slovar` Ushakova] // [Electronic source] // URL: [in Russian]

Khamidova R. E. Patent as a competitive tool and its accounting // Chronomania [patent kak instrument v konkurentnoj bor`be i ego uchet // Xronoe`konomika]. №2 (10). 2018. URL: patent-kak-instrument-v-konkurentnoy-borbe-i-ego-uchet[in Russian]

Global patent group. Protection of production from competitors. How to protect it? [Zashhita proizvodstva ot konkurentov. Kak zashhitit`?]. 2018. // [Electronic source] // URL:  novosti/zashhita-proizvodstva-ot-konkurentov.-kak-zashhitit [in Russian]

Kupriyanova (2018) – Kupriyanova L.M. Intellectual law in the intellectual property market. [Intellektual’noe pravo na rynke intellektual’noj sobstvennosti]. Modern lawyer. [Sovremennyj yurist].  2018. No. 1 (22). p. 92-101.

Kupriyanova, Nikolyukin (2019) – Kupriyanova L.M., Nikolyukin S.V. Features of the license agreement. [Osobennosti licenzionnogo dogovora]. Modern lawyer. [Sovremennyj yurist].  2019.No 3 (28). p. 38-52.

Kupriyanova, Nikolyukin (2019) – Kupriyanova L.M., Nikolyukin S.V. The value of patent information on industrial property. [Znachenie patentnoj informacii ob ob”ektah promyshlennoj sobstvennosti]. Economy. Business. Banks  [Ekonomika. Biznes. Banki.] 2019. No 6 (32). p. 25-38.

Nikolaenko, Kupriyanova, Kiselev (2020) – Nikolaenko Nikita Sergeevich, Kupriyanova Lyudmila Mikhailovna, Kiselev Mikhail Nikolaevich Trends and prospects of scientific research and development and legal protection of their results in Russia in 2019. [Tendencii i perspektivy nauchnyh issledovanij i razrabotok i pravovoj ohrany ih rezul’tatov v Rossii v 2019 godu]. Economy. Business. Banks  [Ekonomika. Biznes. Banki.] 2020. No. 3 (41). p. 23-36.

Kupriyanova, Nikolyukin (2019) – Kupriyanova L.M., Nikolyukin S.V. On the issue of compensation for violation of exclusive rights. [K voprosu o kompensacii za narushenie isklyuchitel’nyh prav]. Modern lawyer. [Sovremennyj yurist].  2019.No 4 (29). p. 51-58.

Kupriyanova, Nikolyukin (2019) – Kupriyanova L.M., Nikolyukin S.V. On the issue of liability for violations of copyright, related and patent rights. [K voprosu ob otvetstvennosti za narusheniya avtorskih, smezhnyh i patentnyh prav]. Modernlawyer. [Sovremennyjyurist].  2019.No 2 (27). p. 53-67.

The article was received on 20.05.2020; accepted for publication on 12.06.2020г The authors have read and approved the final version of the manuscript.


Mariam V. Aleksanyan

Bachelor of  Economics, Department of Management, Financial University under the Government of the Russian Federation, Moscow.


Scientific advisor: Lyudmila M. Kupriyanova, PhD in Economics, Associate Professor, Department of Accounting, Analysis and Audit, Financial University under the Government of the Russian Federation, Moscow.


Information flows: concept and levels of management


Subject / Topic Modern information flows are relevant, given their importsnce for the development of the organization in the context of the implementation of business tasks and effective management. Information flows as the mean of transmitting information allow to develop any system. To promote and implement business projects, the company employees must be familiar with the methods of formation, storage and use of information flows that are focused on results and making effective management decisions.

Goals / ObjectivesAnalysis of the possibilities of formation and use of modern information flows, strategic and tactical information systems.

MethodologyComparison, analysis and synthesis, assessment of the value of information flows, generalization, content interpretation.

Conclusion and RelevanceThe need for information flows and the information process ensure the implementation of the functions of collecting, transmitting, processing, analyzing information and making operational management decisions.

Keywords: information, information flow, information systems, management decisions, effective management.


Broydo (2011) – BroydoV.L. Computing systems, networks and telecommunications: textbook for high schools [Vichislitelniye sistemi, seti i telekommunikacii] / V.L. Broydo, O.P. Ilyina. – 4th ed. – SPb. Peter. – 2011. – 560 p.

Burmenko (2007) – BurmenkoT. D. Service industry. Economics: textbook [sfera uslug.Economica] / T. D. Burmenko, N. N. Dani-Lenko, T. A. Turenko; ed. T.D. Burmenko. – M.: KNORUS, 2007.– 328 p.

Rusetskaya, Trofimova, Pesotskaya (2014) – Organization theory: a textbook for academic undergraduate [teoriya organizacii] / O. V. Rusetskaya, L. A. Trofimova, E. V. Pesotskaya. – M.: Publishing house Yurayt, 2014 – 391 p. – Series: Bachelor. Academic course

Trofimova (2013) – Information systems and technologies in economics and management: a textbook for bachelors [informaconniye sistemi i texnologii v economicei upravlenii] / ed. V.V. Trofimova. – 4th ed., Revised, and ext. – M.: Publishing house Yurayt, 2013 – 542 p. – Series: Bachelor. Basic course

Trofimova (2015) – Methods for making managerial decisions: a textbook and workshop for academic undergraduate [metodi prinyatiya upravlencheskix resheniy] / L. A. Trofimova, V. V. Trofimov. – M.: Yurayt Publishing House, 2015– 335 p. – Series: Bachelor. Academic course

Volkova (2014) – Theory of information processes and systems: a textbook and workshop for academic undergraduate [teoriya informacionnix procesov i sistyem]/ V.N. Volkova. – M.: Publishing house Yurayt, 2014 – 502 p. – Series: Bachelor. Academic course

Kupriyanova, Petrusevich (2019) – Kupriyanova L.M., Petrusevich T.V. Information and analytical support for the sustainable development of the organization: intellectual and human capital [informacionno-analiticheskoye obespecheniye ustoychivovo razvitiya organizacii] Economy. Business. Banks 2019No 5 (31). p. 26-49.

Kupriyanova, Osipova (2018) – Kupriyanova L.M., Osipova I.V. Features of the provision of information in financial statements in IFRS format. In the collection: Modern problems of accounting and reporting in Russia and the countries of the Commonwealth. Collective monograph. [osobennosti predostavleniya informacii v finansovoy otchyotnocsti v formate MSFO] Edited by T.M. Mezentseva, V.L. Nazarova. Moscow-Almaty, 2018.p. 27-35.

Kupriyanova, Osipova (2017) – Kupriyanova L.M., Osipova I.V. The balance sheet is the most important source of information. [bugalterskiy balans- vajneyshiy istochnik informacii] International accounting. [mejdunarodniy bugalterskiy uchyot]2017. No. 22. P. 40

Kupriyanova, Efimova (2014) – Kupriyanova L.M., Efimova O.N. Information society: the current stage of development of the new economy. [informacionnoye obshestvo: sovremenniy etap razvitiya novoy economici] Economy. Business. Banks 2014. No. 3 (8). p. 27-51

The article was received on 05.06.2020; accepted for publication on 20.06.2020г The author has read and approved the final version of the manuscript.


Elizaveta A. Kretova

Senior expert of the Department of audit in Deloitte and Touche CIS,2-rd year student of Mаsters Degree, International accounting and audit, Finаnciаl University under the Government of the Russiаn Federаtion, Moscow.


Scientific Supervisor: Ninа I. Golyshevа, PhD Econ., Associаte professor of the Depаrtаment of Accounting, аnаlysis аnd аudit, Finаnciаl University under the Government of the Russiаn Federаtion, Moscow.

E-mаil: nigolyshevа@mа

Accounting and analytical support of the internal control system


Subject/Topic The article is devoted to the features and problems of formation of accounting and analytical support for the effectiveness of the internal control system in metallurgy. The theoretical and practical aspects are revealed.

Goals/Objectives The purpose of the research is to investigate the formation of accounting and analytical support for the effectiveness of the internal control system (ICS) in metallurgy in theory and in practice of PJSC Rusmet. To achieve this goal, the following tasks were set: to study the economic essence and content of the accounting and analytical support of the ICS, to consider the systems of accounting and analytical support of internal control, to assess the effectiveness of the internal control system on the example of PJSC Rusmet.

Methodology In this research, such general scientific methods of cognition as analysis and synthesis, induction and deduction, comparison method and integrated approach were used.

Conclusions аnd Relevаnce As a result of the research work, the features of the formation of accounting and analytical support of the effectiveness of the internal control system in the industry were studied. Disadvantages of accounting and analytical support are identified by the example of the analysis of the business process “Accounting for other estimated liabilities”.

Keywords: system of control, internal control, elements of system, accounting and analytical support, International Standards, estimated liabilities, business process, control procedure (CP), control of settlements, recognition criteria.


Kozlova, Zambrzhitskaya (2018) – KozlovaT. V., ZambrzhitskayaE. S. Systemofinternalcontrolintheconceptualand categorical apparatus of modern research / Materials of III Allrus. scientific-practical Conf. “Organization management, accounting and economic analysis: issues, problems, development prospects”. Magnitogorsk,2018, Pp.54-58.

Igoshina (2014) – Igoshina Y.A. System of Internal control as an element of management accounting // Bulletin of NGIEI, 2014. No. 1 (32). P. 59-69.

Kupriyanova, Golysheva (2016) – Kupriyanova L. M., Golysheva N. I. Risk analysis based on accounting financial statements. Economy. Business. Banks. 2016. No. S10. Pp. 40-55.

Golysheva, Grebennikova (2013) – Golysheva N. I., Grebennikova A. P. Document flow Control. Bulletin of AXOR. 2013. no. 4 (28). Pp. 112-113.

Golysheva, Grebennikova (2014) – Golysheva N. I., Grebennikova A. P. Universal transfer document: new opportunities for control and accounting. BulletinofAXOR. 2014. no. 2 (30). Pp. 121-122.

The article was received on 03.05.2020; accepted for publication on 15.06.2020г The author has read and approved the final version of the manuscript.


Nikita R. Novikov

4th year student, Faculty of World Economy and International Affairs, National Research University Higher School of Economics


Economic issues of cooperation between member states of CETA


Subject / Topic The subject of the study is economic relations within the framework of CETA, a new type of agreement between the European Union and Canada. The main goal of creating an agreement is justified – the liberalization of mutual trade and economic relations. The main areas of economic cooperation are identified: trade in goods, services, investment cooperation. An assessment is given of the prospects for the EU cooperation with Canada.

Goals / Objectives The purpose of the study is to analyze the provisions of CETA, to identify opportunities for the prospective development of trade and economic relations between Canada and the EU in a new format.

Methodology The methods of expert assessments, generalizing indicators, the method of system analysis were used.

Conclusion and Relevance The main purpose of CETA is expressed in its title – “Comprehensive economic and trade agreement”. A “comprehensive” approach to economic activity reflects a comprehensive attitude to trade and economic relations. CETA is a new generation agreement aimed at developing higher-level trade integration with the participation of economically developed countries. Traditionally, free trade agreements focus only on cross-border exchange of final goods. In trade integration, we are also talking about services, the connections of the value chain, and value added in both directions. The parties agree to remove obstacles not only to trade in goods, but also to investment activities. As part of CETA, almost all customs duties are canceled (or seriously reduced). If it is impossible to cancel all duties, the parties are interested in the rules of origin (foreign content) being simple and minimal. Non-tariff barriers such as local procurement obligations should be the subject of regulatory cooperation. CETA opens up opportunities for more active participation in the business of small and medium-sized companies that can play a prominent role in revitalizing of the economy.

Keywords: СETA, mega-regional integration association, investment, intellectual property.


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2.Albrecht D., Golsse S., Cristea M., Xilinas K. Canada – EU Comprehensive Economic and Trade Agreement (CETA) takes effect. // EY Tax Alerts, P.1-5.

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The article was received on 4.06.2020; accepted for publication on 28.06.2020. The authors read and approved the final version of the manuscript.