Morozova K .A; Usachev V.A

Donetsk National University of Economics and Trade Named after Mikhailo Tugan-Baranovsky.

Financial relations

Financial relations are economic relations between subjects whom it is connected with formation, distribution and use of money resources for the purpose of maintenance of requirements of the state, the enterprises (the organizations, establishments) both citizens. Character and the maintenance of financial relations are defined by character of monetary relations.

Classification of financial relations. Financial relations can be divided into following basic groups:

1. Relations with other self-managing subjects of various forms of property, arising from the purpose of education and the distribution of revenues and implementation of non-sale transactions, including.

2. Relations of independently managing subjects and physical persons through actions, bonds and other securities.

3. Enterprise relations as legal person and personnel.

4. The relations based on labor relations, in the enterprise.

5. Relations of headquarters plant (holding) with its branches and branches.

6. Relations of the enterprise with the budget and off-budget funds, and also fiscal (tax) bodies at payment of taxes and obligatory gathering.

7. Relations of the enterprise with financially-credit institutions (banks, the investment companies, funds).

Economic cooperation between the states assumes presence of the international financial relations. Interstate financial, credit, settlement and currency relations during the last years have considerably extended. Being one of forms of economic, scientific and technical and cultural cooperation between the states, these relations at the same time have specific features. The account of these features allows to unite the specified relations in one group of the international financial relations. Dynamical development of the international financial relations has led to creation of the international financial organizations and formation of the world financial centers.

To the financial relations defining the maintenance of the finance as an economic category, it is accepted to carry the monetary relations arising in the course of expanded manufacture between:

1 state and the enterprises (organizations) for payment of taxes and other payments in the budget, and also on financing from the budget of some expenses of the enterprises;

2 state and citizens at entering of obligatory and voluntary payments into the budget and off-budget funds;

3 enterprises and the higher organizations at creation of the centralized funds of money resources and reserves;

4 enterprises and off-budget funds at entering of insurance payments into these funds;

5 enterprises and banks at reception of credits, payment of percent for the credit, storage of money resources on accounts in banks;

6 enterprises and insurance bodies at payment of insurance payments and compensation from insurance fund of a damage at insured event approach;

7 enterprises and the workers occupied at these enterprises at payment of a salary from fund of payment;

8 enterprises and the organizations in the course of their industrial and commercial activity at calculations for got commodity-material assets (raw materials, materials, fuel, the electric power), and also at realization of finished goods and rendering of services.

The enterprise realizes the production, renders services and receives a corresponding gain. In this case there is a change of patterns of ownership and there are financial relations in which result the enterprise receives the corresponding sum of the gross revenue which is the basic source of formation of profit and monetary funds.

Set of the economic relations arising between the state, the enterprises, branches, regions and separate citizens in connection with movement of funds, forms financial relations.

Important principle of development of financial relations – a target orientation. The purposes choose both the enterprises and the organizations, and the state. The purposes of financial relations of the enterprises and the organizations are: profit extraction, increase of profitability of manufacture and labor productivity, maintenance of steady position in the market, sufficiency material, labor and financial resources.

The purposes of public finances – attraction of incomes in the form of taxes, gathering and non-tax receipts; redistribution of resources according to the confirmed parameters and directions of development of social sphere, the state and municipal sectors of economy, investment programs and performance of internal and external obligations on loans.

All financial relations carry out distribution of gross national product; participate in formation of funds and money resources, in their use. All financial relations supervise and regulate distributive process.

In the general set of financial relations three large spheres can be allocated: the finance of the enterprises, establishments and the organizations; insurance; public finances.

In each of the named spheres links are allocated. The grouping of financial relations is carried out depending on character of activity of the subject, making defining impact on structure and appointment of target monetary funds.

Different links of a financial system serve different kinds of financial distribution: intraeconomic - the finance of the enterprises, intrabranch - the finance of the enterprises, complexes, associations; interbranch and interterritorial - the state budget, off-budget funds.

Each link of a financial system, is subdivided according to internal structure of financial interrelations containing in it. So, as a part of the finance of the enterprises, depending on a branch orientation, the finance industrial, agricultural, trade enterprises etc., and depending on pattern of ownership - the finance of the state enterprises, cooperative, joint-stock, private can be isolated, etc.

The financial system of Ukraine includes following links of financial relations: off-budget funds, funds of property and personal insurance, stock market, the finance of the enterprises of various patterns of ownership.

The primary goal of financial relations is concentration of financial resources at the disposal of the state and their direction on financing social, administrative, правоохранных, military men and production functions. They are formed, mainly, of tax, customs and other payments, and also the incomes received from placing of the state financial resources and from realization of the state securities, of realization of the state property or of its delivery in rent.

Monetary funds are formed on macro- and microlevels. At macrolevel them concern: the state budget, the state off-budget funds, the state funds of insurance which represent system of monetary relations between the state, on the one hand, both legal and physical persons - with another. At microlevel are funds of own, extra and involved means. In turn the structure of own means of the enterprises includes уставный, additional and reserve capitals; funds of accumulation, consumption and social sphere; unallotted profit. Credits and loans concern extra means, to involved - accounts payable. Financial relations at microlevel include relations between the supplier and the consumer, between the enterprise and its structural divisions, between the enterprises and financially-credit system etc.

Thus, the finance is a system of the economic relations connected with formation and use of funds of money resources on the basis of distribution and redistribution of the national income. The finance includes concrete forms and methods of interrelations between the state, the enterprises, the organizations and citizens.