Smagulova
D.S., Akhtamberdiyeva M.E.
Al-Farabi Kazakh National University,
LL.M.,
Senior lecturer Department of Customs, financial and environmental law,
the Faculty of Law, Republic of Kazakhstan, Almaty,
E-mail: smgdana@mail.ru
The financial system of
the state
The financial system - a form
of organization of monetary relations between all the actors of the
reproduction process on the distribution and redistribution of the gross
national product.
In a legal sense, it means the totality of
the financial system of the state financial institution (financial department
and its affiliated companies, tax authorities, state-owned banks, state-owned
insurance companies).
The financial system is an integration
type system is characterized by close ties of its constituent elements
(subsystems) and the fact that none of its subsystems can not exist
independently: finances, on the one hand, express the part of the relations of
production, and so are the element of the system of relations with the other -
represent a system consisting of interconnected elements that have their
functional properties. The finances can be called as a functional subsystems
such as tax, budget, financial plans (forecasts), budget financing, financial
performance, and others.
Principles of the organization of the
financial system can be defined as:
1) finance of any country are organized,
they are divided into certain funds of funds, indirect financial and economic
institutions.
2) Institute, dedicated to the
organization of the monetary system in the Country affects all existing in the
state of monetary relations (financial. Commodity-money, the relationship of
wages).
3) in the field of finance management is
always an organizational nature, because its own finances is no organizational
efforts appear not to function can not.
4) the financial plan of growth is given
in the budget planning, banking planning, financial planning gos.predpriyaty
and organizations.
5) types of financial control receives
budget, banking, institutional control.
The financial system of the state is a
collection of various financial links and financial relations. In economic
literature, the financial system is studied in three aspects:
1. The set of financial relationships.
2. The collection of funds of funds.
3. The financial management unit.
Financial relations are a set of economic
relations arising between the state and enterprises. organizations, industries,
and individuals in connection with the movement of funds. [1]
For example:
- The financial relations between the state and now - this fee payments
to the budget (tax income), as well as grants and loans.
- The financial relations between the enterprises - is equity
participation in joint ventures; mutual credit: purchase and sale of
securities.
- The financial relations between the company and its employees is the
movement of material labor fund (salary, dividends, bonuses).
- The financial relations between the company and the credit system
carried out at a payment of interest for the loans.
- The financial relations between the state and the public - is the
payment of income tax; leaving funds to personal accounts, obtaining loans.
The financial system is represented by
centralized financial with decentralized finance.
Centralised (national) Finance:
budget (national and local);
special extra-budgetary funds (Pension Fund, Social Insurance Fund, employment
promotion fund, road fund, investment, etc.).
Decentralized Finance:
- Finances of enterprises and organizations of the national economy,
which are divided into finance sphere of material production and finance
non-productive sphere;
- Finance population (income tax, obtaining tangible and intangible
benefits, paid services, wages except for goods in cooperatives and other
markets).
The totality of the various spheres of
financial relationships that exist in the country referred to the financial
system. The value of the country's financial system can not be overestimated,
t. To. It includes all the financial relations in the country, in addition, the
collection of funds of funds and financial management personnel are also part
of it.
The complexity and multifactor financial
system determine its units, which include the finance of managing subjects,
personal finance and public finance. Each link in the financial system performs
its function, but together they form a single country's financial system [2].
By definition, the financial system - a set of financial relationships.
By the nature of its financial ratios are raspredelitelnymi, the cost of
distribution is carried out primarily on the subjects. Subjects form of money
earmarked funds, depending on the role they play in social production: are the
direct participants in it, whether organized insurance coverage or carry out
state regulation. It is the role of the subject in social production acts as a
first objective criterion for classification of financial relations. According
to him the major sphere can be isolated in a common set of financial relations:
finance companies, institutions and parties, should strive; insurance; public
finance.
Within each of these areas are allocated units, and the group of
financial relations is dependent on the nature of the subject, has a decisive
influence on the composition and purpose of funds targeted. This criterion
allows to distinguish in the field of finance enterprises (institutions, organizations)
such links as finance companies, operating on a commercial basis: Finance
institutions and organizations engaged in non-commercial activities; finance
associations. In the insurance sector, where the nature of the activity of the
subject determines the specificity of the object of insurance, as the units
are: social security, property and personal insurance, liability insurance,
insurance of business risks. In the public finance field - accordingly, the
state budget, off-budget funds, the state credit.
Fields and financial relations units
interconnected to form together a single financial system.
Various units of the financial system
serve different types of financial distribution: on-farm - the finance
companies. interlining - financial enterprises, complexes, associations,
intersectoral and interterritorial - state budget, extra-budgetary funds.
Each link in the financial system, in
turn, is divided into subunits in accordance with the internal structure
contained therein financial relationships. So, as part of finance companies
that operate on a commercial basis, depending on the direction of the industry,
can be fleshed out finance industrial, agricultural, trade, transport
companies, etc., and depending on the form of ownership From - finance
state-owned enterprises, cooperatives, joint stock , private and others.
Industry and economic characteristics of companies that operate on a commercial
basis, okazyvayutcsuschestvennoe impact on the organization of financial
relations, the composition purpose of funds generated by the order of their
formation and use.
The financial system is characterized not
only by the composition of its constituent parts, but also the flow of
financial resources (cash flow), the main financial relations binding agents.
Such agents should be considered as the state budget, enterprises and business
organizations, households.
Finances public organizations manage
financial departments or groups of these organizations.
The unit finance departments of ministries
and other higher bodies carrying out work on the consolidated financial
pro-demand forecasting, credit system planning, control over you, complements
the consolidated balance of income and expenses, coordinates the work of the
finance department of the subordinate enterprises.
In some ministries and departments
fi¬nansami control scheme combined with the implementation of other management
functions: pla¬nirovaniya (Forecasting), accounting. In such cases, there are
pla¬novo-financial or financial and accounting management. These orga¬ny
analyze the economic and financial activities of the system, prepare proposals
aimed at improving its effectiveness, efficiency with the use of finances. They
are also developing uka¬zaniya, instructions, training materials, regulating
finanso¬vuyu job subordinate enterprises, organizations, uchrezhde¬ny.
The financial work at enterprises, associations
osuschestvlya¬etsya finance department, which is independent struktur¬nym
division. For small businesses finance departments can be combined with the
sales department or accounting (financial accounting, marketing or finance
department).
uchre¬zhdeniya banks taking part in the
operational management of finances. Second-tier banks carry cash management services
to enterprises and organizations to lend vre¬mennye cash requirements [3].
Currently, the improvement of financial
management takes place on the basis of linking this process with the
development and vnedreni¬em in the financial management of automated systems.
Under the automated financial management
system means the totality administrativ¬nyh, economic and mathematical methods
and computational or¬ganizatsionnoy technology, communications, allowing to
manage finances efficiently the financial system.
The
financial management applies automated sis¬tema financial calculations - ASFR.
It consists of an interconnected, co-operating subsystems: functional,
obespechivayu¬schih, technology.
In terms ASFR changes significantly the
contents of the unit of financial management. Information received financial
ra-workers of the automated control systems, allowing them to improve the
quality of management decisions based on consideration of many options and
select the best.
In Kazakhstan for the twenty years of
independence has completely changed the system of economic and social
relations. Since the beginning of the 1994 global economic reform to a large
extent achieved financial stabilization, is nearing completion, privatization
of all state property, there has been a rise in production. There have been
almost complete liberalization of prices and the abolition of most restrictions
on foreign trade. [4]
The financial system of the Republic of
Kazakhstan is the nature of the market, usually it consists of five units: the
state budget, local finance, special funds, finance state-owned banks, finance
companies and public corporations.
Prospects for the development of the
financial system at the stage of building a market economy and the way of its
human resources and professional software should be considered in the context
of their role and influence on the functioning of our society. It is well known
that the finances of the economy on the value equivalent to the circulatory
system of the body. They create a close intertwining of specific financial
spheres, such as - the budget, treasury, taxation, social security, banking or
credit, if even be brought to the ideal state, can not be a positive influence
on the economy as it is the individual links in a single chain. They need to be
improved simultaneously.
Such an approach to solving the urgent
problems require focus in the context of two planes: improve the assessment of
the available financial system and mechanisms of its functioning, respectively
modern needs and assess professional staff of financial services and their
ability to implement these tasks. After all, the financial system institutions
- are not abstract form, they are represented by people who carry on their
shoulders the heavy burden of today's financial problems. Only the
professionalism and responsibility - the success in the formation of financial
management and improving the efficiency of the financial system impact on the
socio-economic development of society.
The financial system should be constantly
improved.
The main objective of this process is to
increase its impact on the stabilization and subsequent socio-economic
development of the country, to ensure the steady growth of the gross domestic
product, financial resources, the strengthening of commercial and economic
accountability at all levels of social production. It is necessary to increase
the effectiveness of public finance management by strengthening the central
principles in conjunction with the widespread introduction of economic methods
of management, independence of business entities, local authorities in the
production and social development. [5]
Thus, financial status is determined by
the state of affairs in society, and therefore the stabilization and
development programs should provide for implementation in the first
economy-wide measures to increase the efficiency of the economy. Among these
measures - improvement of industrial relations, social reorientation of the
economy, structural transformation of the national economy, the acceleration of
scientific and technological progress, intensification of foreign economic
activity, the decision problem of saturation of the consumer market at the expense
of domestic production. Among the financial measures necessary rationalization
of investment, decline in maintenance of management costs, stricter regime of
economy at all levels of management; in the lower levels of the economy - the
elimination of loss-making, the development of commercial calculation,
indicative regulation of financial relations at all levels of the financial
system.
Place and role of the individual
components of the financial system are not the same. The primary (main) element
occupies a leading position among the other elements of the system, because of
its role in the relationship of elements and parts of the system is critical.
This element in the financial system are the nation-wide finance, represented
primarily by the state budget.
As the President said at the VI Congress
of Kazakhstan Financiers "financial sector - is our pride and competitive
advantage by the joint efforts of the private sector and the state". [6]
Despite the achievements, the domestic
financial market is characterized by a high degree of sensitivity and
elasticity to changes in both external and internal environment.
The main problem in the financial sector,
in our view, lies in the fact that the quantitative growth of the revenue part of
the budget of Kazakhstan and all the other important financial indicators
achieved by the fall of tenge exchange rate against the dollar and the revenues
from the oil industry, which could lead to deeper the economic downturn, as the
entire financial and economic system depends on the quotations of raw materials
on the world market;
financial recovery problems concern the
international community. After all, what is currently happening in the
financial sector activity is closely associated with personal well-being of
everyone. The size of profits and taxes, social security contributions and
pensions, the price of stocks and bonds, investment funds form the production
and the social sphere, etc. - Such questions are discussed today not only in
government circles, they are deeply concerned about all of us.
References
1. Melnikov VD, "Finance. Textbook for high schools of economics
", Almaty, 2005. - 98c.
2. AI Khudyakov, "Financial Law of the Republic of
Kazakhstan", Almaty, 2001. - 15 s.
3. Artemenko GN, "Financial Analysis", Moscow, 1998. - 77c.
4. Naymanbaev SS, "Financial Law", Almaty, 2004. - 125c.
5. Zhusupov AD, "The financial system of the Republic of
Kazakhstan", Astana, 2007. - 219s.