Contents of N6/2020

all contents

Contents of №6' 2020

CORPORATE  FINANCE

Choosing the method of amortization of intangible assets to stimulate innovations of companies
Petrikova E.M., doctor of economic science, professor of chair of finance and prices Plekhanov Economic University
SPIN-код: 3457-7077; AuthorID: 407212; Scopus ID: D-6976-2014; ID РИНЦ: 3457-7077; ORCID: 0000-0001-6816-1175; ResearcherID: D-6976-2014

Annotation. Russian companies still pay insufficient attention to amortization of intangible assets and the choice of their accrual method. The main purpose of this article is analyzing accounting methods for amortization of intangible assets, the advantages and disadvantages of each of them, as to consider their differences and preferences for use in accordance with the Russian and international accounting systems. In conclusion, it is concluded that the depreciation of intangible assets in the domestic economy has not reached the proper level of development. The article substantiates the need to improve the company’s accounting policy by using the optimal choice of depreciation methods to increase the competitiveness of its products with high added value and the financial independence of this company. Conclusions are drawn about the dependence of the choice of the depreciation method and the growth rate of income of such a company, and recommendations on the use of international standards are presented.
Keywords: intangible assets, russian accounting standards, depreciation, international financial reporting standards, goodwill, accounting.

References
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5. Turlybekova A.E. Sushchnost’ i soderzhanie nematerial’nyh aktivov po standartu mezhdunarodnoj finansovoj otchyotnosti // Statistika, uchet i audit. – 2011. – № 1 (40). – S. 24–27.
6. Rejli R., SHvajs R. Ocenka nematerial’nyh aktivov / R. Rejli, R. SHvajs; per. s angl. Byuro perevodov Rojd. – M.: ID «Kvinto-Konsalting», 2005. – 792 s. – S. 352.
7. Dzhejms R. Hitchner. Ocenka stoimosti nematerial ’nyh aktivov / pod red. M. Rutgajzera. – M.: Marosejka, 2008. – S. 55.

The impact of financial market liquidity on company value
Gusev A.A., Ph. D. in Economics, associate professor at the Department of corporate finance and corporate governance, Finance university under the government of the Russian Federation, Moscow city; business consultant, leading researcher, IBS, the Russian presidential academy of the national economy and public administration
Gibadullin E.I., Master’s Degree student at the Department of Corporate Finance and Corporate Management of the Financial University under the Government of Russian Federation, OBiKF-18

Annotation. The article considers the degree of influence of the company’s liquidity level on its value. Under conditions of strong segmentation of the financial market liquidity, the most pressing issue for the expert is the accounting of the company’s liquidity level. Thus, the value of shares of the company, the demand on which is extremely low and it is difficult to sell, is lower than the company, whose liquidity is much higher. In this paper, the methods of accounting for the degree of company liquidity are considered, the methods of accounting for liquidity in different assessment approaches are considered, and the companies of the American and Russian markets on the degree of influence of liquidity on their capitalization are analysed. The author has analysed the experience from the debt capital market to take into account bond liquidity, which could be applied in the income approach to company valuation when calculating the discount rate of the company’s cash flows. Also, the methods of taking into account the liquidity of the company’s shares when valuing the company by a comparative method and the transition of evaluation of the companies-analogues to the evaluated company are presented. The paper also presents a practical analysis of US and Russian companies in the oil, metals and telecommunications sectors and their multipliers based on their classification into liquid and non-liquid securities.
Keywords: valuation, liquidity adjustment, liquidity, multiples.

References
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Structuring the information and tool space for the cost of repairing production equipment
Mizikovsky I.E., Doctor of Economics, professor, head of «Accounting» of National research Nizhny Novgorod State University NI Lobachevsky, academician of the RAEN
orcid.org/0000-0002-5094-5008; DOI: 10.1007 / 978-3-030-15160-7_78; ResearcherID AAL-9673-2020; Scopus AuthorID 57195348228

Annotation. The article is devoted to the study of the problem of increasing the level of awareness of people who make managerial decisions in the field of managing the consumption of enterprise resources in the processes of routine repairs of production equipment. The analysis of accounting practices for incorporating maintenance costs into various types of complex production costs is presented. The features of their distribution and regulation in the conditions of applying the traditional accounting model are considered. The proposed approach to the structuring of the studied costs based on their granularity in terms of elements, the composition of which is adapted to the semantics of the subject field under research; the necessity of their objectification in cost center space and the method of calculating the cost of ongoing maintenance work using a base of distribution for the products produced in processes which use refurbished equipment; the ways of implementation of verification procedures validity and actual spending.
The proposed methods and methods of structuring the information and tool space for managing the costs of current repairs of production equipment allow us to significantly improve the quality of decisions made to optimize the volume of consumption of resources of an economic entity, to improve the financial condition, reduce the production loss.           
Keywords: costs, repairs, production equipment, management decision-making, internal control system, calculation, accounting, aggregation, cost element, business entity, information space.

References
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Accounting and analysis of the state of resource potential at enterprises
Baidybekova S.K., Candidate of Economic Sciences, Associate Professor, Zhetysu State University named after I. Zhansugurov, Taldykorgan, Republic of Kazakhstan
SPIN-код: 1611-4472, AuthorID: 1009523 ORCID: orcid.org/0000-0002-7974-1236

Annotation. The article deals with the issues of accounting and analysis of the state of resource potential at enterprises. When writing this article, the goal was set, which was to analyze the effective use of resource potential, in particular fixed assets at enterprises and to identify ways to improve accounting methods for increasing the efficiency of resources used and to solve problems of managing the resource potential of an enterprise. The paper proposes a comprehensive methodology for assessing the level of planning, the formation and efficiency of using the resource potential of an enterprise.
In the presented study, the relationship between economic resources and the economic potential of an enterprise is reasonably revealed. It is noted that the availability of these resources is a necessary and sufficient condition for the formation of the resource potential of the enterprise.
Keywords: Resource potential, fixed assets, labor resources, monitoring, human resources, competitiveness, management decisions.

References
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INVESTMENTS AND BUSINESS

Trends and challenges in implementing plans for innovative development of russia
Sedova N.V., Doctor of Economics, Professor of national and regional economics department Plekhanov Russian University of Economics
SPIN-код: 8816-0547; ORCID 0000-0002-5670-2437; Researcher ID T-7384-2018; Scopus ID 57193992105
Pulyavina N.S., Ph. D., associate professor of Entrepreneurship and Logistics department, Plekhanov Russian University of Economics
SPIN-код: 36760-5100; Scopus ID 57203308918; Author ID 416617

Annotaion. The article analyzes strategic documents aimed at implementing plans for innovative development of the economy, identifies trends and analyzes some results of implementing strategies for innovative development of Russia. The authors identified the problematic aspects of the implementation of the plans, as well as identified possible directions for adjusting the strategy of innovative development.
Keywords: innovation, innovative development of the country, state policy, strategies for innovative development of the country, education.

References
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Features of innovative mechanisms of urbanized spatial continuum
Mudrova S.V., Ph. D., associate Professor, head of the Department of political economy and history Economics of Plekhanov Russian University of Economics
SPIN code 7714-3400; Author ID-389125

Annotation. The article is devoted to the study of the features of the formation and implementation of the innovative potential of urbanized territories within the framework of the spatial area. Urbanized territories are considered as objects of the regional economy in the context of identifying patterns, factors and principles of their development. The article reveals the dynamics of the growth of urbanized spatial territories as a result of the increasing mobility of the population, the transformation of production factors into creative and intellectual resources, the formation of a post-industrial economy and the concentration of an increasing number of people in cities.
Keywords: spatial continuum, urbanized territories, regional economy, mesoeconomic system, innovation potential, innovation mechanism, intellectual and creative resources, growth focuses, institutional environment, formal and informal institutions.

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Interaction problems of the developer, consumer and the bank in project financing of housing construction
Mishlanova M.Yu., Ph. D., associate Professor of the Department of Economics and management in construction, Federal State Budget Educational Institution of Higher Education «Moscow State University of Civil Engineering (National Research University)»
Dubovaya V.A., student of the Department of Economics and management in construction, Federal State Budget Educational Institution of Higher Education «Moscow State University of Civil Engineering (National Research University)»

Annotation. This article examines interactions between developer, consumer and bank in project financing. Ways to incentivize the developer and consumers support are revealed. The authors have identified problems arising in the scheme of interaction between participants in investment and construction activities when an authorized bank appears. Objectives of development effective activity of the developer in project financing of housing construction are set.
Keywords: project financing, escrow account, housing construction, developer, bank.

References
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The use of network platforms in the organization and financing of innovation development of economy
Chernov V.A., Dr.Econ.Sci., prof. of department of finance and credit of Institute of economy and business of Federal public autonomous educational institution of the higher education «National research N. I. Lobachevsky State University of Nizhni Novgorod»
SPIN-код: 9508-4267; ORCID 0000-0002-7703-1660; ResearcherID: G-4150-2018; Scopus AuthorID 57216799799

Annotation. The article is devoted to the search for forms of integration interaction that allow you to generate, motivate, invest, use in production, bring to commercial results innovative ideas and developments, business initiatives. A new type of investor activation, reducing risk and uncertainty, and increasing the sustainability of crowdinvestors «financing using the calculation space method», social proof.
New forms of interaction are proposed in the form of spatial platforms, public innovation laboratories, which significantly increases the organizational and financial capabilities of business initiatives, and the development of innovative high-tech industries.
Keywords: innovation; integration; interaction spaces; coworking; network platforms; ecosystems; public laboratories; startups; investment; crowdfunding; crowdinvesting; high-tech development; cognitive distance; social proof methodology; business reputation.

References
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9. Isckia T., De Reuver M. & Lescop D. Orchestrating Platform Ecosystems: The Interplay of Innovation and Business Development Subsystems // Journal of Innovation Economics & Management. – 2020. – Vol. 32. – No.  2. – Pp. 197–223 [Jelektronnyj resurs]. URL: cairn.info/journal-of-innovation-economics-2020-2-page-197.htm (data obrashhenija: 22.08.2020).
10. Chernov V.A. Finansovye mehanizmy, sposoby i mery dostizhenija innovacionnogo tehnologicheskogo razvitija Rossii // Sovremennye tehnologii upravlenija. ISSN 2226-9339. – № 2 (89). Nomer stat’i: 8901. Data publikacii: 2019-07-02 [Jelektronnyj resurs]. URL: sovman.ru/article/8901/(data obrashhenija: 22.08.2020).
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FINANCIAL MARKET

Market valuation of classic options with account of counterparties credit quality
Tegin A.V.,Ph. D, manager of Treasury department MC Polyus LLC, Moscow

Annotation. The paper investigates the peculiarities of market valuation of such financial derivative as standard (classical) option. The author considers two stages of valuation procedure: the first one consists in calculation of so called out-of-risk option value and the second one represents the numerical estimation of credit risk and the adjustment of result valuation.
Keywords: financial derivatives, vanilla option, market valuation, credit risk.

References
1. Hall Dzhon K. (2014) Opciony, f’juchersy i drugie proizvodnye finansovye instrumenty. – M.: ID «Vil’jams», 8-e izd.
2. Tegin A.V. Ocenka stoimosti proektov v gornodobyvayushchej otrasli metodom upravlencheskih opcionov // Finansovyj menedzhment. – 2018. – № 3. – С. 65–75.
3. Bogatyrev S.Yu. Teoriya povedencheskogo cenoobrazovaniya // Audit i finansovyj analiz. – 2019. – № 6. – S. 98–105.
4. Gregory Jon. Counterparty credit risk and credit value adjustment. – 2nd ed. – UK: John Wiley and Sons Ltd, 2012.
5. Tegin A.V. Оcenkа stoimosti vysokolikvidnyh aktivov s uchetom kreditnogo riska // Finansovyj menedzhment. – 2018. – № 2.

 

ACTUAL THEME

Methodology for assessing the values of the financial component of the indicators of economic security of the russian federation
Averchenko O. D., PhD of Economics, Associate Professor of the Department «Financial markets» of the Plekhanov Russian University of Economics. 36 Stremyanny per., Moscow, 117997, Russian Federation
SPIN-код: 3948–5139; ORCID 0000–0001–7883–453X

Annotation. The modern economy of the state is a system with a large number of indicators that allow one to characterize its state at various levels. At the same time, for a predictive study of the state of the country’s economic system, only a number of indicators are used, which are the most important indicators from the standpoint of economic security. This paper provides an assessment of the values   of the financial component of the indicators of the economic security of the Russian Federation. The main groups of threshold values of economic security indicators have been identified. The analysis of indicators of the financial component of the economic security of the Russian Federation is carried out, as well as the integration of indicators of management of economic security at various levels, as the most characteristic for monitoring the current situation, is carried out. Indicators of the financial stability of the Russian economy in recent years are given. To effectively ensure the economic security of the state, it is necessary to use a systemic and comprehensive approach. At the same time, the system of indicators, which is an indicator of the state of the economic security of the state, must be complete, complex and dynamic.
The proposed methodology for assessing the values of the financial component of the economic security indicators of the Russian Federation makes it possible to quickly identify the weaknesses of the integral system.
Keywords: financial sustainability, thresholds, financial component, indicators of economic security, economic security, financial security.

References
1. Prognoz dolgosrochnogo sotsialno-ekonomicheskogo razvitiya Rossiyskoy Federatsii na period do 2030 goda [Elektronnyiy resurs]. URL: economy.gov.ru/wps/wcm/connect/economylib4/mer/activity/sections/macro/prognoz/doc20131108_5 (data obrascheniya: 17.04.2020).
2. Averchenko O.D. Problemyi obespecheniya finansovoy ustoychivosti bankovskoy sistemyi Rossiyskoy Federatsii // Ekonomicheskie nauki. – 2018. – № 9 (166). – S. 111–117.
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4. Ofitsialnyiy sayt Tsentralnogo Banka Rossiyskoy Federatsii. Makroekonomicheskaya finansovaya statistika [Elektronnyiy resurs]. URL: cbr.ru/statistics/macro_itm/(data obrascheniya: 29.04.2020).
5. Ofitsialnyiy sayt Ministerstva Finansov Rossiyskoy Federatsii [Elektronnyiy resurs]. URL: minfin.ru/ru/statistics/fedbud (data obrascheniya: 29.04.2020).
6. Averchenko O.D. Rol bankov i strahovyih kompaniy v obespechenii stabilnosti finansovogo ryinka Rossiyskoy Federatsii // Finansyi, dengi, investitsii. – 2019. – № 2. – S. 8–15.
7. Rabkin S.V. Strategicheskie otrasli i garantii obespecheniya ekonomicheskoy bezopasnosti: poisk novoy modeli industrializatsii // Voprosyi bezopasnosti. – 2014. – № 6. – C. 1–17.

Financial illiterance of the population as a problem of overday debt in the banking sector
Burganov R.A., doctor of Economics, Professor of the Department of Economics and organization of production, Kazan state power engineering University, Kazan
Khasanova R.R., student of the Department of Economics and production organization, Kazan state power engineering University, Kazan

Annotation. The Article is devoted to the role of financial literacy in solving the problems of reduction in the sphere of overdue mortgages. It gives the importance of financial literacy as one of the most important components of modern life, which allows an individual to participate in financial relations both as a saver and as an investor.
It also provides an overview of the measures taken to improve the level of financial literacy.
Keywords: financial literacy, financially active population, financial education, national strategies for improving financial literacy, problem debt, banking sector.

References
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2. Povetkina N.A., Kudryashova E.V. Finansovaya gramotnost’ i ustojchivoe razvitie v cifrovuyu epohu (pravovoe izmerenie) / N.A. Povetkina, E.V. Kudryashova. – M.: Norma: INFRA-M, 2020. – 104 s. – S. 15.
3. Zelencova A.V. Povyshenie finansovoj gramotnosti naseleniya: mezhdunarodnyj opyt i rossijskaya praktika / A.V. Zelencova, E.A. Bliskavka, D.N. Demidov. – M.: CIPSiR: KNORUS, 2012. – 112 s. – S. 7, 12.
4. KardashovV. Povyshenie finansovoj gramotnosti naseleniya i sub»ektov predprinimatel’stva kak vazhnejshaya sostavlyayushchaya v reshenii problemy «toksichnyh» dolgov [Elektronnyj resurs]. URL: azbukafinansov.ru/files/Kardashov.pdf (data obrashcheniya: 01.10.2020).
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6. Banki.ru [Elektronnyj resurs]. URL: banki.ru (data obrashcheniya: 01.10.2020).
7. Strategii povysheniya finansovoj gramotnosti v Rossijskoj Federacii na 2017–2023 gg.: rasporyazhenie Pravitel’stva Rossijskoj Federacii ot 25.09.2017 № 2039-r [Elektronnyj resurs]. URL: consultant.ru (data obrashcheniya: 01.10.2020).
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15. PAO «AK BARS» Bank [Elektronnyj resurs]. URL: akbars.ru (data obrashcheniya: 02.10.2020).



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