Engineering methods of calculation and control financial status of the university
Tkach V.I., Doctor of Economics, Professor, Head of the Department of Accounting and Audit The Federal State Budget Institution «Rostov State University of Civil Engineering (RGSU)»
Tkach V.S., Postgraduate Student, Chair of Accounting and Audit The Federal State Budget Institution «Rostov State University of Civil Engineering (RGSU)»
Berdnik J.A., Graduate Student, Department of Accounting and Audit The Federal State Budget institution «Rostov State University of Civil Engineering (RGSU)»
Abstract. The article discusses the methodology of accounting for and control of the financial status of a higher education institution in engineering management. A higher education institution standard “Engineering methods of financial state management” is proposed. A qualimetry of higher education institution management is proposed. A comparative analysis of traditional and engineering methods of financial management of a higher education institution. A system of engineering management of the budget process is characterized.
Keywords: intellectual capital, engineering tools, qualitative characteristics of traditional and engineering methods, reserve system, active, passive, neutral zone financial risk, synergistic effect, the budget process, structural, behavioral, consumer capital.
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Evaluation of new types of risks in financial management
Shestakova E.V., PhD Law, CEO LLC “Aktualnyi menedzment”
Abstract. Business relations are not static, some companies suffer fiasco, some, on the contrary, under crisis conditions break forth. To be successful you need to feel the latest trends, successfully orient in the latest trends and build a company conception according to the latest risks.
Keywords: financial risks, non-financial risks, the key rate of the Central Bank of the Russian Federation, tax risks, holdings.
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Theoretical aspects of the application of formalized methods of forecasting financial results
Grishchenko Y.I., Ph.D., assistant professor of “Financial Management” Financial University under the Government of the Russian Federation Moscow, Russian Federation
Abstract. Forecasting of activity financial results of an organization is a multifaceted process. In this article are disclosed the main formalized methods of financial results forecasting.
Keywords: forecasting methods, financial results, extrapolation.
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Methodical aspects of calculation of just value of an enterprise
Abduraupov R.R., Senior Lecturer of Tashkent State University of Economics, Tashkent, Uzbekistan
Abstract. World financial and economic crisis of 2008–2010 demonstrated that financial stability (sustainability) of companies depends on the financial management policies that were adopted by them. The financial policies are based on the goals of management. The commonly accepted goals that appear in publications of the developed countries are increasing the wealth of owners of the companies by maximization of their fundamental value or market value. Our paper critically observes the implementation of those values in making investment or managerial decisions. It gives the author’s definition of financial management and revised method of calculating real value of a company. There is also proposed a method of calculating the just value of a company.
Keywords: financial management, value of a company, fundamental value, market capitalization, real value, just value.
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INVESTMENTS AND ENTERPRENEURSHIP
The benefits and the risks of investing in Russian Federation сonservative financial instruments (deposits, bonds, currencies). Why the Russian bond market is not interesting for the private investor?
Teplova T.V., Doctor of Economics, Professor, Head of the Laboratory of Financial Markets Analysis (LAFR) Faculty of Economic Sciences of the Higher School of Economics, Professor of the Department of Finance NRU HSE
Sokolova T.V., Phd of Physico-Mathematical Sciences, LAFR Analyst, Faculty of Economic Sciences of the Higher School of Economics, Senior Lecturer of the Department of Theoretical Economics of NRU HSE
Abstract. The paper compares the possibility of saving and accumulating of funds by citizens of the Russian Federation through bank deposits, bonds and currencies. We present descriptive statistics on these conservative investment instruments (volume and profitability levels), regulative norms and the practice of taxation. Emphasis is put on obtaining a comparison of the benefits of real income (taking into account the current Russian tax rules and practices of tax regulation) and investment risks, which are defined as the risks of closing the investment position and liquidity risks. The paper raises the problem of identifying the causes of the weak participation of market investors to the domestic bond market (ruble bonds), which creates difficulties for companies to attract capital investment and reduces the choice of the citizens in the formation of independent pension plans and provisions in case of loss of employment, health, etc.
Keywords: deposits, bonds, currency, investment assets, investment risks, pension funds, rate of return, liquidity risk.
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2. Ibragimova D.H. Savings behavior of Russians in 2009-2013, Banking, 2013, № 12. pp. 48-53.
3. Teplova T.V. Tax shield on personal investments, Financial Management, 2015, №2, pp 74-92
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7. The demand for foreign currency in the period:
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TAXES AND TAXATION
Controlled foreign companies – what's new
Nefedova T.N., Head of an Internal Audit Service of an International Holding
Abstract. Provisions in the part of taxation, aimed at combating offshore companies entered into force on 01.01.2015. Wherein for the past half-year it has already been amended by the Federal Law N85 FZ of 06.04.2015 and the Federal Law N150 FZ of 08.06.2015 However, the Russian Finance Ministry has already prepared another draft changes to the rules of controlled foreign companies. Draft amendments (hereinafter – the Draft Amendments to the Law № 376-FZ) was under public discussion till the 15.08.2015. Apart from “cosmetic’ amendments significant changes are considered.
Keywords: controlled foreign company, offshore, taxation of controlled foreign companies.
1. The Federal law from 24.11.2014 No. 376-FZ "On amendments to parts one and two of the Tax code of the Russian Federation (regarding taxation of income of controlled foreign companies and income of foreign organizations)"
2. The Federal Law of 06.04.2015 № 85-FZ "On Amendments to Article 219 of the Tax Code of the Russian Federation and Article 4 of the Federal Law" On Amendments to Parts One and Two of the Tax Code of the Russian Federation (tax profits of controlled foreign companies and income of foreign organizations) "
3. The Federal Law of 08.06.2015 № 150-P "On Amendments to Parts One and Two of the Tax Code of the Russian Federation and Article 3 of the Federal Law" On Amendments to Parts One and Two of the Tax Code of the Russian Federation (foreign profits tax-controlled companies and income of foreign organizations) "
4. The draft Federal Law "On Amendments to Parts One and Two of the Tax Code of the Russian Federation and the Federal Law of November 24, 2014 № 376-FZ" On Amendments to Parts One and Two of the Tax Code of the Russian Federation (tax profit of controlled foreign companies and incomes of foreign organizations) "
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BOOKKEEPING AND REPORTING
Accounting for the reorganization of a legal entity: Russian law and international practice
Gurkin E.O., 5th-year Student of the Faculty of Business VPO “REU them. GV Plekhanov”
Prodanova N.A., Doctor of Economics, Professor Department of Accounting REU them. GV Plekhanov
Abstract. The article is devoted to the procedure of companies reorganization, making up statements according to the standards of financial reporting. The authors reveal the contents of IFRS (IFRS) 3 «Business Association» and define the stages, the passage of which will allow to correctly reflect in accounting and reporting the given procedure in accordance with the IFRS.
Keywords: international standard, business combination, reorganization, merger.
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MANAGEMENT OF FINANCES OF BANKS AND INSURANCE COMPANIES
Organizational and financial aspects of captive insurance companies
Gubanov R.S., Phd Economics, Senior Researcher, Federal State Budgetary Institution «Scientific research Institute of Finance»
Abstract. The article discusses the development of insurance activity in the modern Russian financial system. It describes the objectives, conditions and features of the establishment and operation of captive insurance companies. It identifies areas of financial maintenance of activity of captive insurance companies. It illustrates the relationship of parent captive insurance company with affiliated persons.
Keywords: insurance, captive insurance company, captive insurance company, insurance market, financial aspects.
1. Balakireva V. Y. On the execution of the strategy of development of the insurance industry // Finance No. 7. – 2015 . – P.47.
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Advanced loan models in excel spreadsheets
Cheremushkin S.V., Ph.D. of Economics, Independent Consultant
Abstract. In financial models of development often there is a need to include loans and credits with complicated terms. This paper explains how to describe loan deferment period, calculate deferred interest and negative amortization, interest on deferred interest.
Building loan models can be a challenging exercise, because realistic financial models take into consideration actual dates of receipts and payments, and use day count convention in calculations. Another difficult task concerns the calculation of accrued interests for incomplete reporting periods. This implies that every period must be divided into two parts: the first one spans from the beginning of the current reporting period to the moment of payment and the second part lasts from the moment of payment to the end of the reporting period. The paper explains these issues in detail and provides practical examples of loan models.
Keywords: loan, debt, financial modeling, loan amortization schedule, debt modeling, day count convention, loan repayment methods, loan types, negative amortization, deferment period, repayment holiday.
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