Economy Business Banks №9(47)





Elena P. Ternovskaya

Elena P. Ternovskaya, Candidate of Economic Sciences, Professor of

The Department of Banking and Financial Markets, Financial University under theGovernment of the Russian Federation, Moscow, Russia.


Russian PIFs as a form of collective investment of savings


Subject / Topic To ensure sustainable growth of the Russian economy, it remains important to find sources of investment, the structure and scale of which are not yet conducive to achieving the set goals. Mutual investment funds can be regarded as one of the tools for the formation of investment sources, the function of which is the attraction of savings of the population and the formation of mass segment of investors. At the same time, the development of Russian mutual funds has its own specifics and is characterized by a number of problems.

Goals / Objectives Based on the study of the significance and characteristics of mutual investment funds as a tool for attracting savings of the population with the aim of their further investment in the Russian economy, to determine the problems and prospects of their development.

Methodology In the course of  the study, the methods of synthesis and comparative analysis, structural and dynamic analysis of statistical data, expert assessments were used.

Conclusion and Relevance Realization of the potential of mutual funds as an effective form of attracting savings of the population can be facilitated by a set of measures providing for strengthening the work on informing the population about the possibilities of collective investment; strengthening the diversification of mutual fund portfolios; creation of conditions for guaranteeing deposits of participants in open-end mutual funds.

Keywords:investments, mutual funds, savings, structure of mutual fund portfolios, corporate bonds, protection of depositors


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Berzon, Erofeeva (2018) – Berzon N.I., Erofeeva T.M. The Russian corporate bond market: history of development, current trends, problems and prospects [Rossiyskiy rynok korporativnykh obligatsiy: istoriya razvitiya, tekushchiye tendentsii, problemy i perspektivy] // Bulletin of Tomsk State University. Economy. 2018. No. 44. p.150-165 [in Russian]

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Khodykin (2020) – Maxim Khodykin. Residential background. The Ministry of Agriculture expands the list of banks for rural mortgage [Zhiloy fon. Minsel’khoz rasshiryayet spisok bankov dlya sel’skoy ipoteki] // Izvestia, June 19, 2020 [in Russian]


Irina V. Osipova

Irina V. Osipova,Ph.D., Associate Professor, Department of Accounting, Analysis and Audit,Financial University under the Government of the Russian Federation, Moscow. E-mail:

Reflection of innovations in accounting and accounting (financial) statements


Subject / Topic The article discusses the issues of legislative regulation of accounting and disclosure of information on innovations in accounting (financial) statements (AFS). In this regard, the main Russian standards for the accounting methodology of intangible assets are considered, which include RAS 14/2007, RAS 17/02, Civil Code of the Russian Federation, as well as IFRS, etc.

Goals / Objectives To consider the procedure for accounting and assessment of the assets under consideration and the procedure for disclosing information in the AFS. To analyze with regard to accounting for intangible assets, including innovation, the similarities and differences of modern standards, to identify existing problems in accounting for intangible assets.

Methodology Analysis of Russian and foreign standards, a list of innovations indicated in them, methods for evaluating these assets and in which documents of the AFS should be disclosed information about them.

Conclusion and Relevance Currently, a big problem in Russia for economic entities is the difficulty of acquiring already created innovative technologies, products, production methods, which cannot but affect the decrease in the effectiveness of their implementation in the financial and economic activities of economic entities, a decrease in conditions for creating new innovations, innovative methods and their use. At the same time, an analysis of the standards for accounting of intangible assets shows that intellectual property objects can not always be to full extent reflected in accounting and the AFS, since they are not included in the list of the legislator.

Keywords: intangible assets, innovations, legislative regulation, RAS 14/2007, RAS 17/02, Civil Code of the Russian Federation, IFRS 38 “Intangible assets”, accounting (financial) statements.


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Julia N. Sinkova

Julia N. Sinkova, Senior lecturer, Financial University, Tula branch, accountant-expert, graduate student, Faculty of Taxes, Business analysis and Audit, Financial University under the Government of the Russian Federation, Moscow, Russia. E-mail:

The system of innovative potential management in the defense industryenterprises


Subject/Topic The system of management of innovative potential in the defence industry.

Goals/Objectives Generalization of theoretical and development of practical recommendations to ensure the management of the innovative potential of defense enterprises.

Methodology In the study of the chosen topic, a systematic approach to managing innovation potential and methods of economic and deterministic factor analysis, synthesis, and grouping were used.

Results The analysis of statistical data of innovative development and innovative activity of defense enterprises is presented. The most effective methodological recommendations for assessing the innovative potential are offered. The main directions of effective management of innovative potential are defined. The distribution of powers for the organization of innovation activities in the defense industry enterprises is proposed and it is determined what powers all participants in this distribution have.

Conclusion and Relevance For many years, the issues of ensuring the development of the Russian defense industry have been an important factor in the socio-economic modernization of the country. Based on the conducted research, it can be argued that the development of the innovative component of domestic defense enterprises is at a fairly low level compared to global competitors, which necessitates the activation of the potential of all innovative elements of the industry to improve the financial and economic performance of defense enterprises.

Key words:innovative potential, management, innovation activity, enterprises of the defense industry.


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Nadezhda V. Rebrikova

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

Segmentation of the market of goods by the characteristics of consumers


Subject / Topic The goal of any marketing event is to offer the consumer the product that he will buy. Now there is a huge number of competing companies on the open market that offer goods and services similar in their basic quality characteristics.This trend provides the consumer with a huge space for choice, and the company’s marketing task is to ensure that once the product or service is purchased, the consumer does it again and becomes a constant buyer of this product.To do this most effectively, the marketer in his activity should resort to a wide range of marketing research, which will result in market segmentation based on certain indicators.As a result, the company will be able to determine the target audience with the scale of the market coverage and identify the necessary components for promoting its product (service) on the market.

Goals/Objectives To study consumer characteristics for the formation of the strategy and goals of market segmentation.To analyze the process of market segmentation, its essence and significance; to study forms and types of segmentation based on various criteria, to understand the significance of this process in a company and on the market as a whole, to conduct a survey of consumers.

Methodology The basis of this study is the work of foreign and domestic authors in the field of marketing.

The study is based on the principles of applying general scientific methods: analysis, generalization, comparative and descriptive analyzes, the survey method and graphical data visualization techniques.

Conclusions and Relevance During the segmentation process, the consumer audience is divided based on the similarity of their preferences and expectations of the product. Using a well-defined segmentation strategy, the company can get a lot of benefits, such as: an accurate understanding of the requirements of the audience, an understanding of what improvements their product needs (product line), which promotion strategy will be most effective among one or another target audience, and also what coverage strategy should be chosen for the greatest profit (or feedback in case of non-profit organizations).

Keywords:market segmentation, product, consumer characteristics, segmentation principles


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Guo Chenchen

Guo Chenchen, postgraduate student, Department of Finance and Credit, Faculty of Economics, Moscow State University.


Contactless payments in the banking business of China in the context of epidemiological security


Subject/Topic The presented article is devoted to the topic of using the latest banking technologies in order to reduce epidemiological risks in the context of modern socio-economic globalization. The article analyzes the readiness of the largest Chinese banks to develop and implement their own contactless payment systems as their own banking products. A sufficiently high degree of readiness to build up digital technologies was revealed, and at the same time, certain weaknesses were revealed that are obstacles to effective expansion into the market of retail financial services (contactless payments).

Goals / Objectives The purpose of the study is to confirm the relevance of the development of contactless payments by banks and to analyze the readiness of the studied banks to develop this area in their business.

The objectives of the research are reduced to determining the innovative potential of the studied banks in terms of their readiness to develop contactless payment technologies.

Methodology The article uses general scientific methods: analysis, synthesis, as well as special methods of scientific knowledge: statistical, modeling.

Conclusions and Relevance Through a statistical analysis of an expert assessment of the innovation potential of the studied banks, their innovation profiles were determined, and the strengths and weaknesses of their innovation potential were revealed. The need for investment in technology, which will certainly be demanded by the market, is beyond doubt. At the same time, resource support for the contactless payment technology development program is required, and here each participant in this segment of the banking market implements its own approach, which determines the nature and pace of implementation of programs in the field of contactless payment technologies development.

Keywords: contactless payments, financial technologies, promotion, expansion, activity, risk reduction


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Lokman K. Bayramukov

Lokman K. Bayramukov, the master student of Financial University under the Government of the Russian Federation, Moscow


Performance indicators of the organization's activities in the business analysis system


Subject / Topic The research is aimed at studying the process of assessing the performance indicators of an organization in the system of business analysis of economic entities to develop proposals and recommendations for improvement.

Goals / ObjectivesTo identify problems in the processes of assessing the performance indicators of an organization in the business analysis system, to consider the essence of business analysis and its role in the analysis of the requirements imposed in the organization, to study the performance indicators of the organization in the business analysis system, to highlight the main directions for improving performance in assessing performance indicators of the organization.

Methodology In the course of the research, the methods of theoretical research were applied.

Сonclusionsand Relevance In the course of the study, the theoretical aspects of assessing the performance indicators of an organization in the business analysis system were revealed, the essence of business analysis as a modern tool for substantiating the sustainable development of an organization was revealed. In particular, the approaches and concepts were disclosed that are the basis for business analysis. The milestones and requirements of business analysis were discussed, as well as measures to address major business problems. A number of performance indicators were disclosed that are related to accounting (financial) reporting. Indicators of profitability and indicators that are non-financial, but playing a key role were considered. Within this stage, a performance matrix was proposed, the main processes of analysis and assessment of performance indicators were demonstrated.

Key words:business analysis, performance indicators, organizational efficiency, stakeholder, interested parties, requirements analysis, business process, business model, stakeholder theory, performance matrix


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Milana Prakashe

Milana Prakashe, Bachelor of Economics, Department of Management,Financial University under the Government of the Russian Federation, Moscow. Email:

Assessment of the organization's business activity


Subject / Topic The analysis of the business activity of the organization in the context of reforming the accounting system in accordance with the requirements of international standards focuses on the need to improve the organizational and methodological provisions of the analysis. Assessment of business activity is of interest to the majority of the users of information.

Goals / Objective To reveal the essence, the value,the methodology of assessing the business activity of the organization, to present a system of indicators of business activity. The value of the analysis of business activity lies in the formation of an economically reliable assessment of the efficiency and intensity of use of enterprise resources, and in the identification of reserves for their increase. During the analysis, the following tasks are solved: the dynamics of indicators of business activity is evaluated; the influence of the main factors causing the change in business activity indicators and the calculation of their specific impact is investigated, the results of the analysis are summarized, specific measures to mobilize the identified reserves are developed

Themethodology of business activity analysis includes a systematic approach to the assessment of the processes in the company’s activities, using the methods of statistical, economic and financial analysis, including retrospective and trend analysis, elements of correlation and regression analysis and other approaches to the assessment of the object of study.

Conclusion and Relevance Business activity as the ability of an enterprise according to the results of its economic activity ensures a stable position in the competitive market, affects the performance of activities relative to the amount of resource consumption in the process of the operating cycle.

Keywords: analysis, business activity; current assets turnover; non-current assets, efficiency, profitability.


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Anna S. Tumasyan

Anna S. Tumasyan,Ph.D. student, Department of Banking and Financial Markets, Faculty of Finance, Financial University under the Government of the Russian Federation, Moscow, Russia. E-mail:

Transformation of approaches to product development in private banking


Subject/TopicThe article deals with the transformation of approaches to developing and offering a product line according to certain clientele indicators, which help the personal Manager determine the readiness of a particular client for long-term investments and prospects for the diversification of large capital. The article discusses the features of the investment advice forprivate banking clients, defines the role of alternative investments in the investment portfolio of private banking clients, allocates conditional age categories of clients according to the theory of generations in Russia, for grouping customers and proper selection of products and services for each age category, shows financial inclusion of banking services in the financial market.

Goals/ObjectivesImprovement of the product line forhigh-income clients in private banking.

MethodologyComparative method, analytical method.

Conclusions and Relevance Banks that offer private banking services are increasingly paying attention to the development of products and services that meet a larger number of customer requests, improvement of existing services, and introduction of new programs to cover all areas of customer activity more widely. Personal managers offer package services, solve various types of tasks and issues related to financial and non-financial services, and help with solving problems that arise in the field of client employment. Private banking conducts various intermediary transactions, implements art-banking services, conducts expert examinations of works of art, and offers the best conditions for transactions with jewelry houses. Due to the conditional division of clients into age categories, the personal manager of private banking has the time and, accordingly, the opportunity to correctly identify the needs of a particular group of individuals also taking into account the needs of an individual client. With the correct identification of customer needs, the decision-making process for the introduction of products/services and their implementation in a commercial Bank is simplified. To improve banking services and make a profit, the latest banking technologies are used in the field of servicing individuals. RPA (robotic process automation) is used to solve simple questions, to save time for the personal manager and the client. Due to the globalization and digitalization of the economy, the opportunities for capital diversification for all client segments of the banking market are expanding, so banks providing private banking serviceshave to review their approaches to developing products and services, which is already a progress in the banking system.

Keywords: private banking, investment consulting, investment strategy, art-banking, capital, personal manager, risk profile, banking products,age category


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Mariam V. Aleksanyan

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


Economic essence and analysis of accounting objects in international accounting standards


Subject/Topic The economic essence and analysis of accounting objects in international accounting standards are currently very relevant for medium and small enterprises, for the commercial sector and for the public sector.

Goals/Objectives The purpose of this work is to analyze the economic essence of accounting and reporting objects in international standards.

Methodology Analysis of accounting items in international accounting standards and analysis of economic essence. Research on the topic was conducted on the basis of materials from periodicals and Internet sources.

Conclusion and Relevance Today, IFRS is an integral part of the knowledge that any accountant, economist and auditor should have, since the knowledge and ability to read and use international financial statements correctly will indicate a highly qualified employee.

Keywords:accountingreporting, tax reporting, taxpayer, taxes, financial reserve, Declaration, VAT.


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