Open AccessCorrelation between the concepts of “finance” and “financial resources”
Author(s) -
I.G. Kozynets,
S.S. Berdnik
Publication year - 2022
Publication title -
analìtično-porìvnâlʹne pravoznavstvo
Language(s) - English
Resource type - Journals
ISSN - 2788-6018
DOI - 10.24144/2788-6018.2021.03.20
Subject(s) - finance , government (linguistics) , economics , state (computer science) , geography of finance , meaning (existential) , financial market , business , linguistics , philosophy , algorithm , computer science , psychology , psychotherapist
This article is devoted to determining the legal and economic nature of financial resources. The relevance of this topic is due to the fact that financial resources are the main goal in achieving financial stability of the state, which increase the chances of survival in a market disaster, ensuring the repayment of obligations to government agencies and creditors and bring income to owners.
The article analyzes the approaches of scholars to define the meaning of “finance” and “financial resources” reveals the essence of public finance, which means economic relations related to the formation, distribution and use of funds to perform functions and tasks of the state.
The purpose of this article is to determine the content and amount of financial resources, as well as to clarify in terms of financial and legal research of their public nature.
After analyzing the approaches of scientists, it is determined that finance as an economic category is considered as a system of economic relations, in the process of which funds are formed and used. It is proposed to define finance as a system of economic relations regulated by law, as a result of the functioning of which monetary funds are formed and used. While financial resources are an integral part of economic resources, which are funds of monetary and budgetary systems used to ensure continuous operation and development of the economy. for socio-cultural activities, management and defense needs.
The authors came to the conclusion that the financial support of the state is a set of measures defined by regulations aimed at mobilizing the necessary amount of financial resources to ensure the economic basis of comprehensive and timely implementation of the state’s functional responsibilities. Due to the new economic approaches that give rise to legislative innovations, the structure of the financial system, which is formed by a combination of public and private finances, has changed significantly in recent years and acquired new forms and features.