DOI: 10.7256/2454-0765.2016.4.20804

Abstract: The subject of the research is the land, business, and financial laws in the matters related to the consideration of relevant and important problems arising in connection with the need for cadastral valuation of land or real estate. The object of the research is the legally regulated public relations arising in the sphere of the land, business and financial laws in the process of cadastral valuation of real estate. The authors elaborate and substantiate the positions that state cadastral evaluation of land is a necessary action for the implementation of Article 390 of the Tax Code of the Russian Federation implying the computation of the taxable base based on a cadastral value of a land property. The methodological basis of the research involves the dialectical method of studying social and legal phenomena and concepts from the point of view of their development. In the course of their research the authors have also applied general and special research methods such as historical, legal, systems analysis, comparative legal, statistical, specific sociological, formal-logical and others. The main conclusions of the research are provisions that tax has a regulating effect on the overall real estate market, as local authorities have the ability to adjust tax rates to a basis of the cadastral value of the property close to its market value. The novelty of the research is caused by the fact that the authors offer their own definition of the state cadastral valuation under which stands for a set of certain actions including developing a list of real estate objects subject to state cadastral evaluation; selection of executors who will define the cadastral cost; determination of the cadastral value and preparation of the report on determination of the cadastral cost; examination of the report on determination of the cadastral cost; and recording results of determination of the cadastral cost in the state cadastre. Special attention is paid to the point of view that real estate tax is close to the concept of "fair taxation".

Keywords: land category, cadastral valuation of land, fair taxation, real estate tax, cadastral valuation of real estate, land tax, cadastral value, taxable base, efficiency of land use, cadastral value

DOI: 10.7256/2454-0765.2016.4.68530

Abstract: The subject of the research is the land, business, and financial laws in the matters related to the consideration of relevant and important problems arising in connection with the need for cadastral valuation of land or real estate. The object of the research is the legally regulated public relations arising in the sphere of the land, business and financial laws in the process of cadastral valuation of real estate. The authors elaborate and substantiate the positions that state cadastral evaluation of land is a necessary action for the implementation of Article 390 of the Tax Code of the Russian Federation implying the computation of the taxable base based on a cadastral value of a land property. The methodological basis of the research involves the dialectical method of studying social and legal phenomena and concepts from the point of view of their development. In the course of their research the authors have also applied general and special research methods such as historical, legal, systems analysis, comparative legal, statistical, specific sociological, formal-logical and others. The main conclusions of the research are provisions that tax has a regulating effect on the overall real estate market, as local authorities have the ability to adjust tax rates to a basis of the cadastral value of the property close to its market value. The novelty of the research is caused by the fact that the authors offer their own definition of the state cadastral valuation under which stands for a set of certain actions including developing a list of real estate objects subject to state cadastral evaluation; selection of executors who will define the cadastral cost; determination of the cadastral value and preparation of the report on determination of the cadastral cost; examination of the report on determination of the cadastral cost; and recording results of determination of the cadastral cost in the state cadastre. Special attention is paid to the point of view that real estate tax is close to the concept of "fair taxation".

Keywords: land category, cadastral valuation of land, fair taxation, real estate tax, cadastral valuation of real estate, land tax, cadastral value, taxable base, efficiency of land use, cadastral value

DOI: 10.7256/2454-0765.2016.4.19477

Abstract: The subject of the research is the process of corporate investment activity increasing economic efficiency of investors, corporations, and government. The object of the research is the development of corporate investment activities in the Russian Federation. The purpose of the research is to define the role of investment in the formation and increment of corporations' capital in the Russian economy. The author of the article describes stages of corporate investment activitis which enables to conduct a more detailed study of investment objects, adjust indicators of economic efficiency and determine the level and ability to minimize financial risks at each stage of planning and investment. Cost-effectiveness is evaluated at the final stage of the process of corporate investment activity, the final level of which is the determination of areas for using accumulated capital (consumption, accumulation, or reinvestment). According to the results of the research the author came to the conclusion that the investment process helps corporations to minimize financial risks and creates conditions for their efficient operation in the long term. This proves the urgency and efficiency of the process of corporate investment activity developed and described by the author. The process allows to preserve the structure of the corporation capital and maximize the economic effect for investors. 

Keywords: economic efficiency, investment activities, economy, reinvestment, investment project, financial resources, investment capital, investment, corporation, investment sources

DOI: 10.7256/2454-0765.2016.4.68531

Abstract: The subject of the research is the process of corporate investment activity increasing economic efficiency of investors, corporations, and government. The object of the research is the development of corporate investment activities in the Russian Federation. The purpose of the research is to define the role of investment in the formation and increment of corporations' capital in the Russian economy. The author of the article describes stages of corporate investment activitis which enables to conduct a more detailed study of investment objects, adjust indicators of economic efficiency and determine the level and ability to minimize financial risks at each stage of planning and investment. Cost-effectiveness is evaluated at the final stage of the process of corporate investment activity, the final level of which is the determination of areas for using accumulated capital (consumption, accumulation, or reinvestment). According to the results of the research the author came to the conclusion that the investment process helps corporations to minimize financial risks and creates conditions for their efficient operation in the long term. This proves the urgency and efficiency of the process of corporate investment activity developed and described by the author. The process allows to preserve the structure of the corporation capital and maximize the economic effect for investors. 

Keywords: economic efficiency, investment activities, economy, reinvestment, investment project, financial resources, investment capital, investment, corporation, investment sources

DOI: 10.7256/2454-0765.2016.4.21384

Abstract: The main purpose of a bank is to maintain the balance between risk and profitability of credit operations by competently managing credit risk and, first of all, evaluating creditability of lendees which is performed through improving credit risk management and developing guidelines on creditability evaluation. The purpose of the present article is to offer an efficient inventory for evaluating the level of creditability and making a rating of a lendee based on the points evaluation method. The research is based on the method described in a modified scheme of Central Bank of Russia's Instructions No. 2005 dated May 28, 2008 'On Evaluating the Economic Position of Banks'. Their modified approach to evaluating creditability and developing a credit rating of a lendee from a commercial bank implies, first of all, establishing a set of indicators for evaluating a lendee's level of creditability but the economic position of a bank, secondly, assigning certain points to a lendee, thirdly, calculating points as multiplying the level and the indicator's value; and fourthly, creating a rating where the first place is given to the most unsatisfactory lendees, the second place is the 'doubtful' lendee', the third place is a satisfactory lendee and the fourth place is a good lendee. Based on these indicators the general indicator is calculated as a weighted average of creditability showing a lendee's rating in points. The result of the article is the proof that the offered inventory of making a credit rating of a commercial bank's lendee allows to raise efficiency of the credit risk management. 

Keywords: efficiency of management, creditability indicators, evaluation, credit operations, profitability, credit risk, commercial bank, lendee, rating, creditability

DOI: 10.7256/2454-0765.2016.4.68532

Abstract: The main purpose of a bank is to maintain the balance between risk and profitability of credit operations by competently managing credit risk and, first of all, evaluating creditability of lendees which is performed through improving credit risk management and developing guidelines on creditability evaluation. The purpose of the present article is to offer an efficient inventory for evaluating the level of creditability and making a rating of a lendee based on the points evaluation method. The research is based on the method described in a modified scheme of Central Bank of Russia's Instructions No. 2005 dated May 28, 2008 'On Evaluating the Economic Position of Banks'. Their modified approach to evaluating creditability and developing a credit rating of a lendee from a commercial bank implies, first of all, establishing a set of indicators for evaluating a lendee's level of creditability but the economic position of a bank, secondly, assigning certain points to a lendee, thirdly, calculating points as multiplying the level and the indicator's value; and fourthly, creating a rating where the first place is given to the most unsatisfactory lendees, the second place is the 'doubtful' lendee', the third place is a satisfactory lendee and the fourth place is a good lendee. Based on these indicators the general indicator is calculated as a weighted average of creditability showing a lendee's rating in points. The result of the article is the proof that the offered inventory of making a credit rating of a commercial bank's lendee allows to raise efficiency of the credit risk management. 

Keywords: efficiency of management, creditability indicators, evaluation, credit operations, profitability, credit risk, commercial bank, lendee, rating, creditability

DOI: 10.7256/2454-0765.2016.4.18542

Abstract: Investment activity creates a basis for the development of all kinds of business. In order to carry out such activity, it is very important to satisfy the need for investment resources, methods of developing such resourches and methods of their efficient use in the future. Thus, peculiarities of the structure of investment sources and analysis of formation and use of investment resources in the Russian Federation is an important task because the overall level of the country's economy, economic security and institutionalization depend on how efficiently these resources are formed and used. The subject of the research is the structure of investment sources into the basic capital of Russia. The purpose of the present article is to analyze the process of developing investment resources in the Russian Federation as well as to define peculiarities of the structure of investment sources. The authors of the article apply the method of analysis when defining the main sources of attracting investments into the basic capital of the Russian Federation and evaluating the gross accumulation. They also use the graphic method to build the structure of investment sources into the basic capital of the Russian Federation and to describe the dynamics of Russia's gross domestic savings and gross accumulation. The main results of the research are the following. The authors have defined the main causes of low investment activity of Russian enterprises; have analyzed the main sources of attracting investments into the basic capital of the Russian Federation; have described certain economic activities that promote the best investments into the basic capital of the Russian Federation; and have given recommendations for solving the problem of attracting more investments in the country's economy. The scope of application of the results and the novelty of the research are as follows. The authors have discovered the relationship between the structure of investment resources and their influence on the financial stability and economic security of enterprises in the decision making process at the marcolevel (state regulation of the Russian Federation insvetment policy). Conclusions are the following. Investment resources should be taken from the most appropriate sources of a particular enterprise and used rationally. For this purpose it is necessary to apply measured aimed at improving the system of control over receipts and expenditures of the country's budget. The results of analyzing the past 5years demonstrate that Russian enterprises have been mostly using their own sources for their investment activity. However, taking into account the fact that such sources are usually insufficient for funding investment activity, the industrial potential of Russia is rapidly aging and Russia's economy has high needs for investments. Therefore, it is necessary to provide the best comfortable conditions for restructuring the industrial process when obtaining tax investment credit or tax holidays. The statement that investment resources are not used rationally or efficiently enough is proved by the fact that a consderable part of domestic savings are not used for internal investments but taken abroad. In order to change this tendency, it is necessary to simplify the order, procedure and resude the number of approvals, licenses and technical conditions required for conducting investment projects in Russia.  

Keywords: institutionalization, governance, economic security, financial stability, investment funds, financing, organization, efficiency, savings, capital

DOI: 10.7256/2454-0765.2016.4.68533

Abstract: Investment activity creates a basis for the development of all kinds of business. In order to carry out such activity, it is very important to satisfy the need for investment resources, methods of developing such resourches and methods of their efficient use in the future. Thus, peculiarities of the structure of investment sources and analysis of formation and use of investment resources in the Russian Federation is an important task because the overall level of the country's economy, economic security and institutionalization depend on how efficiently these resources are formed and used. The subject of the research is the structure of investment sources into the basic capital of Russia. The purpose of the present article is to analyze the process of developing investment resources in the Russian Federation as well as to define peculiarities of the structure of investment sources. The authors of the article apply the method of analysis when defining the main sources of attracting investments into the basic capital of the Russian Federation and evaluating the gross accumulation. They also use the graphic method to build the structure of investment sources into the basic capital of the Russian Federation and to describe the dynamics of Russia's gross domestic savings and gross accumulation. The main results of the research are the following. The authors have defined the main causes of low investment activity of Russian enterprises; have analyzed the main sources of attracting investments into the basic capital of the Russian Federation; have described certain economic activities that promote the best investments into the basic capital of the Russian Federation; and have given recommendations for solving the problem of attracting more investments in the country's economy. The scope of application of the results and the novelty of the research are as follows. The authors have discovered the relationship between the structure of investment resources and their influence on the financial stability and economic security of enterprises in the decision making process at the marcolevel (state regulation of the Russian Federation insvetment policy). Conclusions are the following. Investment resources should be taken from the most appropriate sources of a particular enterprise and used rationally. For this purpose it is necessary to apply measured aimed at improving the system of control over receipts and expenditures of the country's budget. The results of analyzing the past 5years demonstrate that Russian enterprises have been mostly using their own sources for their investment activity. However, taking into account the fact that such sources are usually insufficient for funding investment activity, the industrial potential of Russia is rapidly aging and Russia's economy has high needs for investments. Therefore, it is necessary to provide the best comfortable conditions for restructuring the industrial process when obtaining tax investment credit or tax holidays. The statement that investment resources are not used rationally or efficiently enough is proved by the fact that a consderable part of domestic savings are not used for internal investments but taken abroad. In order to change this tendency, it is necessary to simplify the order, procedure and resude the number of approvals, licenses and technical conditions required for conducting investment projects in Russia.  

Keywords: institutionalization, governance, economic security, financial stability, investment funds, financing, organization, efficiency, savings, capital

DOI: 10.7256/2454-0765.2016.4.18473

Abstract: The object of the present research is the economic security of the Russian Federation under the conditions of the Eurasian Economic Union's activities and arising threats to the country's economic security within the framework of the aforesaid integration association. The author of the article examines threats to the economic security of the Russian Federation as part of the Eurasian Economic Union under modern geo-political and geo-economical realities. The author offers a classification of threats to Russia's economic security as external and internal. The author also offers a classification of negative consequences of such economic security threats as quantitative (countable) and qualitative (uncountable). The author also offers particular methods for analyzing quantitative (countable) and qualitative (uncountable) negative consequences of these threats. The author offers the regression method of analysis to define the dependence of particular socio-economic indicators of Russia on quantitative negative consequences of economic security threats. The main conclusion of the research is that there is a certain relationship between indicators denoting consequences of economic security threats under the conditions of integration and particular socio-economic indicators of the government. Moreover, based on built models, it is possible to predict potential negative consequences for Russia's economic security as a result of interactions within the Union. The author proves the dependence between the process of foreign citizens' migration from CIS to RF and the levels of unemployment and crime in Russia. 

Keywords: qualitative indicators, quantitative indicators, Commonwealth of Independent States, integration, mathematical modeling, regression analysis, Eurasian Economic Union, analysis of variance, migration, unemployment

DOI: 10.7256/2454-0765.2016.4.68534

Abstract: The object of the present research is the economic security of the Russian Federation under the conditions of the Eurasian Economic Union's activities and arising threats to the country's economic security within the framework of the aforesaid integration association. The author of the article examines threats to the economic security of the Russian Federation as part of the Eurasian Economic Union under modern geo-political and geo-economical realities. The author offers a classification of threats to Russia's economic security as external and internal. The author also offers a classification of negative consequences of such economic security threats as quantitative (countable) and qualitative (uncountable). The author also offers particular methods for analyzing quantitative (countable) and qualitative (uncountable) negative consequences of these threats. The author offers the regression method of analysis to define the dependence of particular socio-economic indicators of Russia on quantitative negative consequences of economic security threats. The main conclusion of the research is that there is a certain relationship between indicators denoting consequences of economic security threats under the conditions of integration and particular socio-economic indicators of the government. Moreover, based on built models, it is possible to predict potential negative consequences for Russia's economic security as a result of interactions within the Union. The author proves the dependence between the process of foreign citizens' migration from CIS to RF and the levels of unemployment and crime in Russia. 

Keywords: qualitative indicators, quantitative indicators, Commonwealth of Independent States, integration, mathematical modeling, regression analysis, Eurasian Economic Union, analysis of variance, migration, unemployment

DOI: 10.7256/2454-0765.2016.4.21042

Abstract: Today's academic and legal literature often uses the terms 'competence' and 'powers' as synonymous. This approach is appiled in the sphere of budget law, too. However, adequacy of legal instruments used by budget law requires specific and detailed characteristics of such terms as 'budget competence' and 'budget powers' which is the subject of the present research article. The author of the article analyzes the terms 'budget competence' and 'budget powers' from the point of view of budget law development and defines the main milestones therein. The methodological basis of the research involves analysis of the aforesaid concepts in budget law for the purpose of their in-depth study. The author of the article analyze general and specific characteristics of these terms and derivative legal concepts and stages of the legal use of these terms; and causes of amendments and changes in budget law as well as associated problems and contradictions. The author demonstrates how the above mentioned terms originated and what technical legal, socio-economic and institutional factors created the grounds for their appearance. 

Keywords: income powers (authorities), differentiation of powers, powers, authorities, competency, expenditure powers (authorities), state debt, budget policy, budget law, budget, national (internal) debt

DOI: 10.7256/2454-0765.2016.4.68535

Abstract: Today's academic and legal literature often uses the terms 'competence' and 'powers' as synonymous. This approach is appiled in the sphere of budget law, too. However, adequacy of legal instruments used by budget law requires specific and detailed characteristics of such terms as 'budget competence' and 'budget powers' which is the subject of the present research article. The author of the article analyzes the terms 'budget competence' and 'budget powers' from the point of view of budget law development and defines the main milestones therein. The methodological basis of the research involves analysis of the aforesaid concepts in budget law for the purpose of their in-depth study. The author of the article analyze general and specific characteristics of these terms and derivative legal concepts and stages of the legal use of these terms; and causes of amendments and changes in budget law as well as associated problems and contradictions. The author demonstrates how the above mentioned terms originated and what technical legal, socio-economic and institutional factors created the grounds for their appearance. 

Keywords: income powers (authorities), differentiation of powers, powers, authorities, competency, expenditure powers (authorities), state debt, budget policy, budget law, budget, national (internal) debt

DOI: 10.7256/2454-0765.2016.4.18733

Abstract: The subject of the present research is the analysis of the accounting system from the piont of view of the logistics theory. The object of the research is the flow of financial information. The authors found that the accounting system can be regarded as a registration-information field generating flows of financial information which comprise information logistics. Thus, under the flow of financial information, according to the authors, it refers to the flow of information about accounting objects from the initial accounting position (balance account) to reflect them in the accounting (financial) statements. The research methodology is based on the dialectical method and involves the study of economic relations and phenomena in terms of their development and system relations and methods of comparative analysis, economic and mathematical research of data, methods of synthesis, graphical modeling, methodology of the theory of statistics and mathematics. The novelty of the study is caused by the fact that financial information flows can be classified as filled and empty which allows to identify them with regard to the completeness and reliability of the resulting information. It is also proved that the information and accounting field of the accounting system is structurally possible to present three levels. At the same time between the levels, there are objective connections (flows of information) providing the content of information at higher levels. 

Keywords: register, document, information, flow, logistics, system, accounting, accounting (financial) statements, users, traffic

DOI: 10.7256/2454-0765.2016.4.68536

Abstract: The subject of the present research is the analysis of the accounting system from the piont of view of the logistics theory. The object of the research is the flow of financial information. The authors found that the accounting system can be regarded as a registration-information field generating flows of financial information which comprise information logistics. Thus, under the flow of financial information, according to the authors, it refers to the flow of information about accounting objects from the initial accounting position (balance account) to reflect them in the accounting (financial) statements. The research methodology is based on the dialectical method and involves the study of economic relations and phenomena in terms of their development and system relations and methods of comparative analysis, economic and mathematical research of data, methods of synthesis, graphical modeling, methodology of the theory of statistics and mathematics. The novelty of the study is caused by the fact that financial information flows can be classified as filled and empty which allows to identify them with regard to the completeness and reliability of the resulting information. It is also proved that the information and accounting field of the accounting system is structurally possible to present three levels. At the same time between the levels, there are objective connections (flows of information) providing the content of information at higher levels. 

Keywords: register, document, information, flow, logistics, system, accounting, accounting (financial) statements, users, traffic

DOI: 10.7256/2454-0765.2016.4.20807

Abstract: In their research the authors solve the problem of defining reliability as a significant indicator denoting efficient management of the taxation system development and explaining why the taxation system is a large-scale social system, and what functional reliability means in terms of managing such a large-scale system. For the first time in the academic literature the authors view functional reliability of management as a significant indicator of fiscal efficiency. As a result of the research the authors make a more precise definition of the mechanism of tax legal regulation which is understood as a system of legal and institutional means by which the effective impact is made on the relations arising during determination, establishment, introduction and collection of taxes and levies, arrangement and execution of tax control, and holding liable for committing tax crimes. For the first time in studying taxation issues the authors apply the method of the management functional reliability to analyzing large-scale organisation systems. The results of the research demonstrate that reliability as the result-to-objective relation starts to play a prevailing role in defining efficiency of the taxation system, thus, the main requirement for the efficient management of the taxation system is its reliability as a criterion that ensures the compliance of the process of the system's functioning to the legal standards. One of the key moments in studying the functional reliability of the taxation system management is the idea of the influence of such management on economic stability of the country.     

Keywords: economic benefits, functional reliability, social system of taxation, reliability index, large-scale system , reliability management, tax efficiency, target efficiency of taxation, reliability index, organisation social system

DOI: 10.7256/2454-0765.2016.4.68537

Abstract: In their research the authors solve the problem of defining reliability as a significant indicator denoting efficient management of the taxation system development and explaining why the taxation system is a large-scale social system, and what functional reliability means in terms of managing such a large-scale system. For the first time in the academic literature the authors view functional reliability of management as a significant indicator of fiscal efficiency. As a result of the research the authors make a more precise definition of the mechanism of tax legal regulation which is understood as a system of legal and institutional means by which the effective impact is made on the relations arising during determination, establishment, introduction and collection of taxes and levies, arrangement and execution of tax control, and holding liable for committing tax crimes. For the first time in studying taxation issues the authors apply the method of the management functional reliability to analyzing large-scale organisation systems. The results of the research demonstrate that reliability as the result-to-objective relation starts to play a prevailing role in defining efficiency of the taxation system, thus, the main requirement for the efficient management of the taxation system is its reliability as a criterion that ensures the compliance of the process of the system's functioning to the legal standards. One of the key moments in studying the functional reliability of the taxation system management is the idea of the influence of such management on economic stability of the country.     

Keywords: economic benefits, functional reliability, social system of taxation, reliability index, large-scale system, reliability management, tax efficiency, target efficiency of taxation, reliability index, organisation social system

DOI: 10.7256/2454-0765.2016.4.20984

Abstract: The current stage of development of the world financial system determines the need for a comprehensive study of the issues of development of the national financial infrastructure in order to increase its global competitiveness. The subject of this research is the role of non-bank financial intermediary institutions in ensuring the stability and competitiveness of the Russian financial infrastructure. Special attention is paid to the analysis of the level of development of the Russian insurance companies, non-state pension funds and mutual investment funds in comparison with the standard agents overseas, and also a share of bond financing in structure of borrowings of the non-financial organizations performed in the domestic financial market. In the course of writing the article the author has used methods of the comparative, system, structural and statistical analysis of foreign and Russian sources of information. As a result of the research, the author concludes that now the tendencies of strengthening positions of the non-bank financial intermediation which developed in the global financial market aren't typical for the Russian financial infrastructure. Based on the experience of the US and EU in overcoming the consequences of the global financial crisis, the low level of development of the non-bank financial intermediary is defined as a threat to the national infrastructure system stability and sustainable development of the national economy. The author proves the need to change the vector of development of the national financial infrastructure towards the "institutional" model to enhance its stability.

Keywords: insurance companies, collective investments market, insurance market, non-bank financial intermediation, financial security, stability, financial infrastructure, private pension funds, mutual investment funds, financial resourse

DOI: 10.7256/2454-0765.2016.4.68538

Abstract: The current stage of development of the world financial system determines the need for a comprehensive study of the issues of development of the national financial infrastructure in order to increase its global competitiveness. The subject of this research is the role of non-bank financial intermediary institutions in ensuring the stability and competitiveness of the Russian financial infrastructure. Special attention is paid to the analysis of the level of development of the Russian insurance companies, non-state pension funds and mutual investment funds in comparison with the standard agents overseas, and also a share of bond financing in structure of borrowings of the non-financial organizations performed in the domestic financial market. In the course of writing the article the author has used methods of the comparative, system, structural and statistical analysis of foreign and Russian sources of information. As a result of the research, the author concludes that now the tendencies of strengthening positions of the non-bank financial intermediation which developed in the global financial market aren't typical for the Russian financial infrastructure. Based on the experience of the US and EU in overcoming the consequences of the global financial crisis, the low level of development of the non-bank financial intermediary is defined as a threat to the national infrastructure system stability and sustainable development of the national economy. The author proves the need to change the vector of development of the national financial infrastructure towards the "institutional" model to enhance its stability.

Keywords: insurance companies, collective investments market, insurance market, non-bank financial intermediation, financial security, stability, financial infrastructure, private pension funds, mutual investment funds, financial resourse