Lecture N 7

Lecture N6

Lecture N5

“Financial planning and forecasting”

The object of financial planning is formation and distribution of incomes and accumulation, formation and use of centralized and decentralized funds of money resources.

Planning - an act of formulating a program for a definite course of action.

In financial planning the following methods are used:

1. The settlement analytical method

2. The method of expert estimations

3. The normative method

4. Program-target method

5. Economic - mathematical methods

There are several types of the financing planning in sphere of material manufacture:

Ø strategic financial plan

Ø current financial plan

Ø operative financial plan

In current financial planning the plan of the incomes, plan of charges and deductions, plan of mutual relations of organization with the budget, credit plan is usually developed.

The operative financial planning consists of drawing up and use of a payment calendar. The payment calendar is the financial document which is used for the control of an expenditures of means in the analyzed period.

“Legal maintenance of financial relations”

The financial right is a set of legal norms regulating the financial relations, which arises during formation, distribution and use of money resources.

Included sections:

Ø The currency legislation

Ø Insurance legislation

Ø Bank rights

Ø Legal regulation of the state credit

Financial- legal norms - initial primary elements of rights.

Dispositive method assumes contractual form of the coordination of interests of the parties.This method is applied concerning the enterprises and organizations – partners of business (observance of their mutual rights and duties).

The methods of financial activity of the state are:

Ø Methods of obligatory and voluntary payments to the centralized state funds.

Ø At distribution of state money- Financing and crediting

Ø At financial operations- methods of non -cash and cash payments.

Financial – legal acts - represent accepted in the stipulated form and having legal consequences of the decision of bodies of state authority and managements on financial activity which is included in their competence.

“Financial control”

Financial control - is the management of a costs and expenses in relation to budgeted amounts.

The spheres of action of financial control are:

Administrative, legal, social, technical, political.

The principles of financial control:

Independence, objectivity, reliability, transparency, competence, publicity.

The main tasks of the financial control are:

1. Check of financial obligations of enterprises, organizations, population
2. Check of money using by the subjects(budget, loans)
3. Check of observance of rules of fulfillment financial operations, accounts
4. Revealing internal reserves of economic entities
5. Elimination and prevention of infringements of financial discipline.

The financial control is divided into three directions:

Ø Kinds

Ø Forms

Ø Methods

Дата добавления: 2014-12-24