Finance. Finance - what is the difference between finance and capital
English and fr. finances from cf. lat. finantia - completion, order to pay) - a fundamental, generalizing, multi-valued economic category that characterizes the processes of formation, distribution and redistribution Money states, regions, business entities, legal and individuals in the course of the formation of their income, expenses, savings and the resulting monetary relations. Category F. reflects the socio-political and socio-economic system, in the conditions and as part of a cut, the financial system operates. Dep. the authors hold significantly different positions regarding the interpretation of this term. Being a historical category, F. also undergo a definition. changes as the transformation, development of the economy and society. The emergence of F. as a full-fledged. systems refers to cf. centuries and is due to the development of production, trade, commodity-den. relations, cross-country den. turnover, banking and exchanges. Affairs. The money that existed long before that, their movement, circulation acquire a new quality, a different content during this period. Den. funds become more diverse, the forms and nature of their movement change, the state mobilizes money. resources to fulfill and expand their economic, social, political. functions, den. relations move from the sphere of exchange to the sphere of production and distribution of societies. product. There are specifics. finance. in-you, operating a variety of finance. instruments in the form of money, nat. and foreign currencies, valuable papers. This is how the financial institutions of economic entities, states, and world financial institutions are born in their interaction. The evolution of F. is characterized by two more important circumstances: 1) economical. the processes of production, circulation, use, consumption of products, goods, works and services are accompanied (in a sense, displayed) by adequate financial processes, reflecting the cost side of the reproduction process, the movement and change in value, the dynamics of income, expenses, profits; 2) arise independently. finance. operations, movement of money. means as such, not connected. directly with the production and sale of goods; formed currency market and the securities market, forming a single financial market. The movement of money acquires independence, and, thus, monetary relations become financial relations. The structure and content of F. in different countries largely due to the type of economic prevailing in the country. systems. In countries with centralized controlled economy, the decisive place is occupied by the state. F., the formation of state. budget and off-budget funds, mobilizing DOS. part of the financial resources and then distributing them by industry, territory, socio-economic. programs in accordance with state social and economic plans. development. Under these conditions, the primary function of finance becomes the primary distribution and subsequent redistribution of finance. resources. F. themselves are characterized here as den. relations arising in the process of distribution. and redistribution. GDP (newly created value) and part of nat. wealth in connection with the formation and use of money. funds of economic entities (pr-ty) and state-va, with their spending on expanded reproduction, mater. stimulation of employees, satisfaction of social. needs. In countries with market economies, the mean the role of the state F., budgeting of incomes and expenses of the state-va used in the general public., Societies. needs, social goals. However, the center of gravity of finance. activity is shifting from centralization. financial distribution. resources to ensure the sustainable functioning of the free market for goods, works, services and state. regulation market relations through taxes, duties, discount rates, subsidies, subventions, quotas and other finance. leverage. Significantly increase the role and opportunity to be independent. use of finance. resources by business entities: pr-tiami, commercial. firms, companies, banks, private entrepreneurs. In most countries there is a mixed economy that combines the features of centralization. managed and free market economy; the same combination is observed in finance. system of countries. Functioning F., implementation of finance. activities are manifested through income, expenses, profits, taxes, payments, deductions, accumulation of money. funds, education den. funds, budgeting and budgeting. financing, investment, finance. support and finance. privileges. Concentrated in the state-va F. contribute to the solution of economic. and social tasks, ensuring stability, preventing crisis situations, economic. growth, the formation of market relations. F. economic entities are a tool for the development of production, entrepreneurship, innovation, ensuring break-even, profitable activities, survival in conditions market competition. However, F. allow you to get the expected effect only with their diet., Thoughtful use in accordance with a single economic. a strategy developed and implemented taking into account the historical, natural-environmental, economic, socio-psychological. factors and conditions.
The main characteristic of the economy is the social economy, which is supplemented by state regulation. Therefore, it is very important to understand the concept of finance. They play the most important role in the structural diversity of relations in the market.
What is finance?
The concept of finance is very important for economic structure. Any money is a special resource, and rather scarce. Therefore, financiers must be able to save, form and spend them wisely. The financial system is such a specific structure that allows you to precisely form, as well as spend money for a certain period of time. At the initial stage, when creating any state, this science belonged only to the category of income and expenses of only one state. They were distributed for the maintenance of the army, social assistance to citizens, observance of borders, administrative and judicial apparatus, and so on.
IN modern world, the concept of finance has become more multifaceted. Any state income is formed from tax deductions that citizens pay. Therefore, finance can be considered as a set of absolutely all cash receipts, which are at the complete disposal of any state (any organization or enterprise, possibly a private person, individual). The management, formation, control and use of these funds is the responsibility of the respective ministries.
What is the financial system made of?
The concept of any finance is not limited to state structures.
They can be divided into 3 categories:
State;
Corporatism;
Personal funds (that is, the funds of a certain individual).
Therefore, any financial system is a community or a combination of absolutely all sections and spheres of the economy.
Finance - their role in the economy
The role of finance is in multiple uses and redistribution. With their help, you can direct cash flows in the right direction, consistently, depending on demand. Thanks to finance, there is a circulation of various social forms, as well as individual and production assets. Finance affects the quantity and quality of any production.
Financial impact stimulates community development, for example, the expansion of production, the control of social and economic programs, as well as the increase in the entire state welfare.
What are finances?
The function of finance is not only the purposeful distribution to secure and generate income. Financial assistance also includes material assistance. For example, a subvention and a subsidy. The first is provided on a gratuitous basis (subvention), the second - on a preferential basis.
These are funds that are transferred to any organization, enterprise or legal (private) person that do not need to be returned (in the case of a subvention), or partially reimbursed (in the case of a subsidy).
The state of finance can be characterized as the sufficiency of funds or, conversely, the insecurity of any enterprise with money. Each structure has certain parameters. For example, the state of the finances of an entire state, a firm or a single family can be analyzed by the resources that are necessary for the normal functioning of this structure. That is, the totality of all income that an entity, region, country or individual will need to function, conduct business, and maintain life in general.
Types and varieties of finance
What are the types of finance? In economics, there is such a thing as financial relations. They are divided into groups, depending on the subjects that are directly involved in them.
Finances are:
- State - that is, all the income and expenditure of the state. For example, schools, museums, cinemas and theaters, various universities, technical schools, as well as clinics and hospitals, and many other organizations receive funds from the budget.
- Corporate - means of commercial organizations, the main purpose of which is to obtain their own benefit from their activities. Such organizations are engaged in both the sale of specific goods and various market services.
- Public - this refers to various public organizations, for example, political parties, charitable foundations and many others. Income in the general part of public funds from similar public organizations come in the form of various membership dues, gifts, and the like. Since this is a rather small unit, a special role (as independent financial entities) they don't play.
- Personal - this group includes various types of finances of the population. These incomes are based on wages received by able-bodied members of society. This group also includes pensions and various benefits. The latter are allocated from public funds, which are regulated by special financial funds.
Basic functions of finance
If you explain in simple words, then such functions are the control and distribution of financial resources.
Distribution function - occurs with a proportional division of domestic resources and the total national income. For a better understanding, consider an example. The organization received some revenue from the sale of its goods. Such sum of money not divided into component parts. For example, production costs, profits, wages for workers and employees, and so on. For a complete distribution of finances to occur, the following conditions must be met - tariffs, rates, various deductions, such as insurance and pensions, standards, etc., are determined.
Control function - there is a control over all cash flows. Both of them are interconnected. The functions of finance are fully manifested only with full control at all stages of their creation, formation, distribution, and use.
How to manage finances?
The state has developed a whole financial structure in order to correctly distribute and manage capital. Any financial management can be characterized by the following parameters: assets and liabilities. It is the correct distribution and management of state and budget capital or personal funds that helps to reduce the necessary expenses and, accordingly, greatly increase profitability and profitability.
In order to best allocate funds, funding plans must be clearly presented and certain goals to be achieved must be outlined. Assets include all monthly income, liabilities - expenses. It is necessary to strictly observe their balance so that assets are always higher than liabilities. Only in this case, the budget will be positive.
Financial management is a whole science that not only a civil servant, but also an ordinary citizen should know. What for? To independently and competently manage their own funds. Any family budget also has its assets and liabilities. Therefore, the laws of financing are relevant not only at the state level, but also for a particular citizen.
Financial Management Example
For a better understanding, consider the following financial calculation.
- The organization sold a certain volume of any product, and received the proceeds to its current account.
- Further, from the amount received, it must make certain deductions to the state budget, that is, pay taxes.
- At the next stage, this enterprise must allocate some part of the funds to maintain a continuous production process.
- Then you need to subtract another part of the funds, which will go to wages, pension contributions, to the insurance fund and so on.
- The rest is profit.
From this example it can be seen that without the movement of certain funds, in this case, the proceeds received from the sale, neither the state budget, nor the workers, nor the pension fund itself - no one would have received their share. It is this kind of movement material assets provides financial resources.
What is finance made of?
Main task public finance of any state is to provide this state with monetary resources. Therefore, they consist of the following structures, such as the state budget, various funds that are extra-budgetary structures, as well as state loans.
Financial systems can be divided into: the finances of enterprises, the state and the population. In turn, the finances of the state are also distributed - the state loan, the state budget and off-budget funds. The state budget interconnected with the Ministry of Finance and the Ministry of Taxes and Duties. It should be noted that tax system works to replenish public funds.
How can finance be valued?
Any financial enterprise assessed against certain criteria. In some cases, express diagnostics are carried out. Why is this being done and why is it needed?
Financial assessment is very important in economic terms. With early diagnosis and detection of violations in the activity of any financial institutions you can take the necessary measures and thus improve the general condition. Analytical programs are used for express diagnostics. Such methods help to monitor general indicators, such as liquidity, capital intensity, the return of various funds, and more. During analytical activities, you can explore the activities of not only your own enterprise, but also competitors. For extended study and analysis, more extensive calculations are carried out. Certain methods allow not only to understand what is the cause of any violations, but also to learn more deeply and in detail the cause of their occurrence. To carry out such diagnostics, statistics are used, which are open for free use on various government websites and in analytical databases.
Financing example
You can consider the example of finance directly on the expenditure of the state budget.
The financial system is divided into two main parts:
1. Finance of enterprises, which, in turn, include commercial and non-commercial organizations, as well as financial intermediaries.
2. State and municipal finances, which are distributed to the budget system and state credit.
3. The budget system can also be divided into several links: federal, territorial and municipal, or local budgets.
4. And also all budgets are distributed to: pension fund, fund social insurance, federal and territorial funds of obligatory medical insurance.
Thus, the concept of finance, their role and functions are the basis of the economy, both for the state as a whole and for individual members of society.
What is finance ?
Finance - this term refers to the totality of all material resources ( in cash- a modern interpretation!), which are owned by a subject of the economy: an individual, organization, business or state.
finance and money are closely related concepts. If there were no money, there would be no concept of finance. So, the term "finance" means "to supply with money." The word "finance" is often used in everyday life as a synonym for the word "money".
Finance- a general economic term, meaning both 1) money, financial resources considered in their creation and movement, distribution and redistribution, use, and 2) economic relations due to mutual settlements between economic entities, cash flow, money circulation, use of money. (Raizberg B.A., Lozovsky L.Sh., Starodubtseva E.B. Modern Economic Dictionary. 5th ed., revised and added. - M.: INFRA-M.2007. - 495 s)
Finance is an economic category that reflects the economic relations of cash funds. "Big Economic Dictionary" N.N. Azriliyan (Publisher: Institute of New Economics, OMEGA-L GROUP COMP ANI, Int-t new, eq., Institute. new, ek., Institute of new e K., 2004) -
Finance(from lat. finance- cash, income) - set economic relations arising in the process of formation, distribution and use of centralized and decentralized funds of funds. Usually we are talking on trust funds of the state or economic entities (enterprises). The most important concept in finance is budget.
There is also an economic science of the same name - finance.
Finance as a science
scientific discipline finance studies money and socio-economic relations associated with the formation, distribution and use of material resources. Finance is an applied economic discipline.
Traditionally, finance is divided into public and private. The first group includes: public finance and municipal finance (local finance). In the second group, there are:
personal finance and family finance;
small business finance, corporate finance (enterprise finance, business finance), bank finance (banking), non-profit organization finance.
For public finances, expenses are primary, as well-defined tasks and functions of public education are financed. For private finance, income is primary, all activities are aimed at generating income, which is subsequently used at the discretion of the person.
The general skill (and perhaps even the art) of managing finances is studied by science financial management. Bank financial management is studied within the framework of science banking. Financial markets studies science financial economics. financial statistics is studied within the framework of a small eponymous section of statistics. Applied mathematical science studies methods of processing financial information financial mathematics. Control over financial flows is studied within the discipline financial control.
THE SUBJECT OF THE THEORY OF FINANCE
Theory of Finance(finance theory) in a broad sense is the science of how people manage the spending and receipt of limited monetary resources (i.e. make financial decisions) over a period of time.
Financial Solutions(Financialsolutions) are characterized by the fact that the costs and receipts of monetary resources: 1) are separated in time and 2) as a rule, cannot be accurately predicted either by those who make decisions or by anyone else.
Financial decisions are implemented with the help of the financial system.
Financial system(financialsystem) is a set of markets and other institutions used for the conclusion of financial transactions, the exchange of assets and risks.
This system includes:
markets for money, stocks, bonds and other financial instruments;
financial intermediaries (such as banks and insurance companies), firms offering financial services (such as financial advisory companies);
bodies regulating the activities of all financial institutions.
financial intermediaries refers to firms whose main role is to provide financial services and sell financial products. These include banks, investment and insurance companies. Among them financial services includes opening checking accounts, issuing commercial loans, mortgages, providing access to a wide range of insurance contracts and participating in mutual funds.
The modern financial system is global in nature. Financial markets and intermediaries are interconnected through a comprehensive international telecommunications network, through which payment transfers and securities trading are carried out almost around the clock. Thus, if a large corporation located, say, in Germany, decides to finance a new project, then it considers any investment opportunities, including, for example, issuing and selling shares on the London or New York Stock Exchanges or obtaining a loan in any Japanese pension fund. Moreover, in the latter case, the loan can be presented both in German marks, and in Japanese yen or in US dollars.
Briefly, it can be said that finance science studies motion cash flows in the economy and the formation of cash funds from various economic entities. Depending on their types, there are:
macrofinance, i.e. cash flows of the state, which in turn are divided into blocks: balance of payments, budget balance, bank balance;
microfinance, i.e. cash flows of enterprises (corporate finance), non-profit organizations (public finance), banks (bank management).
In widesense to theoryfinance include:
The theory of money, monetary policy, the doctrine of central banks(according to the international classifier JEL (Journal Economic Literature) - section in group E - macroeconomics and monetary policy;
Theory of taxes and budget (according to JEL, these are sections in the H group - economics public sector public economics),
Investment theory, portfolio theory, corporate finance theory (according to JEL, these are sections of group G - financial economics)
Banking, financial institutions, pension funds, financial markets, financial accounting (financialaccounting) (according to JEL - group M - business administration)
International finance (according to JEL - a section in group A international economics).
THE SUBJECT OF MODERN THEORY OF FINANCE
If until the 19th century the theory of finance developed as a theory of public finance, then in the 20th century. it became the theory of capital markets as their importance to the development of the economy increased dramatically.
For example, Macmillan's Dictionary of Money and Finance states that the main focus of analysis in modern finance theory is the operation of capital markets and the value of financial assets. The new Palgrave Dictionary of Money & Finance. Ed. Newman P. Milgate M. Eatwell J. 1-3. Macmillan. 1992.
Tools of the modern theory of finance - actuarial mathematics (financial mathematics), financial (including banking) statistics, financial law, financial programming.
The reason is two trends.
Mathematization of the economy, i.e. the description of its laws in a model form requires an accurate definition of its parameters, which, as a rule, have a monetary form of value.
The use of theoretical results in the practice of managing economic processes (business administration) and in economic policy requires improving the accuracy of the model description of cash flows and assessing the risks of applying theoretical models.
THE EVOLUTION OF THE THEORY OF FINANCE
The emergence of finance and the term "finance"
The history of the emergence and development of the term "finance"
There are different points of view on the origin of the term "finance". Some authors argue that this term arose in the XIII - XV centuries. in the trading cities of Italy, and later became internationally widespread and began to be used as a concept associated with the system of monetary relations between the population and the state.
The term "finance" comes from the Latin word finare - to pay; produced from finis - due date, end, end, finish.
In the ancient world and the Middle Ages, the term finis was used in monetary relations arising between the state (represented by the king, judges) and the population. He expressed the final calculation, i.e. meant the completion of the payment. Persons who have paid dues in favor of a judge, king or various government agencies, received a document called fine. Subsequently, the term financia originated from the name of this document, which in Latin meant a cash payment.
In Germany, the word finanz was used to denote cunning, deceit, and when applied to the state economy, finanz meant the art of collecting more money.
In the 16th century in France, the Latin term financia turns into the French term finance, meaning income, cash. This term is used to define the totality of public (state) revenues and expenditures and is gradually being transformed into the modern concept of finance.
Thus, this term reflected, firstly, monetary relations between two subjects, i.e. money acted as the material basis for the existence and functioning of finance (where there is no money, there can be no finance); secondly, the subjects had different rights in the process of these relations: one of them (the state) had special powers; thirdly, in the process of these relations, a nationwide fund of funds was formed - the budget (hence, we can say that these relations were of a stock nature); fourthly, the regular flow of funds to the budget could not be ensured without giving taxes, fees and other payments of a state-compulsory nature, which was achieved through the legal rule-making activities of the state, the creation of an appropriate fiscal apparatus.
Based on the foregoing, one can formulate general definition finance.
Finance- this is a set of monetary relations organized by the state, in the course of which the formation and use of national funds of funds for the implementation of economic, social and political tasks is carried out.
Finance It's not about money, it's about money. Although finance cannot exist without money: money is the material basis for the existence and functioning of finance. But not all monetary relations are finances, but only those where one of the subjects is the state.
In the explanatory dictionary of V. Dahl, the definition of finance is given as follows:
Finance- this is "everything that relates to the income and expenditure of the state." In various variations, the interpretation of finance as a set of state revenues and expenditures prevails in special science, not to mention other publications of pre-revolutionary Russia.
It should be noted that the concept of finance, the essence financial relations changed. Transformation of views on the economic category of finance from the end of the 17th to the end of the 20th century. quite capaciously given in the work of S. Witte. He writes: “... from the end of the 17th century ... the word “finance” ... began to understand the totality of state property and, in general, the state of the entire state economy. In the sense of the totality of material resources at the disposal of the state - its income, expenses and debts - this word is understood even now. Thus, more precisely, the science of finance can be defined as the science of how best to satisfy the material needs of the state.
From this it is clear what an important role finances must play in public life. Without them state activity unthinkable. Finances are for the state necessary means to carry out its tasks, and without finance we cannot conceive of any social organism.
What are the prerequisites for the emergence of finance? After all, long before that, mankind had money, commodity-money relations, and a state structure. Why did this phenomenon and the term reflecting it appear only in the Middle Ages?
First premise. It was in Central Europe that, as a result of the first bourgeois revolutions, although monarchical regimes were preserved, the power of the monarchs was significantly curtailed, and most importantly, the head of state (monarch) was torn away from the treasury. A nationwide fund of funds arose - a budget that the head of state could not use alone.
Second premise. The formation and use of the budget began to be systemic, that is, there were systems government revenue and expenses with a certain composition, structure and legislative consolidation. It is noteworthy that the main groups of the expenditure side of the budget have remained practically unchanged for many centuries. Even then, four areas of spending were identified: for military purposes, management, economy, and social needs. In Russia, the latter direction arose in late XIX century.
Third premise. Taxes in cash have acquired a predominant character, whereas earlier state revenues were formed mainly at the expense of taxes in kind and labor duties.
The development of finance and financial relations is inextricably linked with the development and formation of states. After all, finances are relations for the accumulation and distribution and subsequent redistribution of national wealth, and redistribution is necessary precisely for the implementation of the functions of the state.
With the broad development of market relations, financial relations are becoming more diverse. In particular, their only connection with the treasury and the whims of the monarch, king or shah is eliminated. Monetary relations are developing and improving, some in-kind duties and dues are being replaced by a more progressive form of taxation - monetary.
The functions of the state are being improved and developed: in addition to maintaining the court and court households, as well as the army and the police, the state becomes an active conductor of the economic interests of large merchants and manufacturers, financing colonial conquests and protectionist policies. The control function of finance appears and develops: one of the slogans of the American Revolution "No taxation without a representative" is well known, which is associated with the desire of the inhabitants of the United States - then filed by Great Britain - to participate in determining the directions and volumes of spending tax revenues to the budget.
The further development of financial relations is connected with the democratization of society. In most states, parliamentary (representative) power is being strengthened, a policy of social stability is emerging, which implies the need to redistribute funds in favor of the poorest strata, establish social guarantees in the form of benefits and pensions (Bismarck was the ancestor of pensions and social security in general), and introduce special government programs for social protection and support (medicine, education, employment, etc.).
The 20th century brought with it especially rapid transformations in this area; during the first third, the totality of various financial relations develops into the financial system in the form in which it still exists.
Thus, the improvement of finance is inextricably linked with the development of society: the more complex and higher the level of relations between people, the more perfect the structure of finance. Therefore, they are generally inseparable from man, since they represent the distribution and redistribution of wealth created by man.
Definition of finance
The term "finance" in Latin means " cash payment". Through the movement of financial resources, one of the economic functions of society is expressed, which consists in servicing exchange relations between people, as well as for other economic tasks facing the subjects. economic system relies on the production process, which is always accompanied by a counter-flow of cash.
Remark 1
Finance refers to monetary economic relations arising from the distribution and accumulation of funds by the state, business entities, households in order to expand production, meet social needs, as well as to distribute the social product and meet the needs of the population. The main features of finance can be called the desire for distribution, the unidirectional movement of cash flows, the creation of public funds.
In order for the financial sphere of relations in the country to function optimally, it is necessary to observe such principles as the unity of the regulatory and legislative framework, balance, targeting and diversification of sources of funds.
Finance functions include:
- The main one is the distribution of funds between sectors of the national economy. This contributes to the optimization of production activities. At the macroeconomic level, the distribution of the social product and national income takes place.
- The function of control is that through the organization of cash flows, the state can control their work and the correctness of their use. Through finance, it is possible to influence the production and distribution of social benefits.
- The regulatory function allows the state to intervene in economic processes within national economy. For these purposes, planning and regulation of the stock market is used.
- The stabilization function makes it possible to balance the position of the population and business entities in the existing conditions.
Thus, through finance, the state can influence macroeconomic indicators, control the volume of output and demand, and optimize internal processes in the country's economy.
The concept of financial resources
Any subject within the framework of economic relations seeks to maximize their own income. When planning future activities economic agents, first of all, assess the available financial resources and their potential. At the macroeconomic level, this procedure acquires a target and program character. It is here that they talk about "financial resources" that arise in the process of distribution and accumulation of funds with their further targeted use. They can be used to achieve specific goals in the social, economic, political, cultural and other spheres of the country's life.
Thus, financial resources are understood as the accumulated funds that are used for certain planned purposes. At the same time, financial resources serve all areas of economic activity, from the stage of their occurrence and distribution to direct use in a particular area of activity. Finances are directly dependent on income, which go through three stages:
- At the first stage, income is generated from the proceeds from the sale of products or services. Usually, part of the means to ensure the continuity of production is allocated here. Income is generated as a result of the expansion of production.
- The second stage is the distribution of income. The funds received from the sale are directed to investments in the next production cycle, for personal or final consumption, as well as for the payment of mandatory taxes and fees in favor of the state.
- At the last stage, the income itself is realized, some of it may go into savings.
There is always a relative balance between the existing stages of income distribution. It is represented by the equation between total income from sales and the amount of savings and final income.
Remark 2
The distribution of finance in the system is affected not only by income, but also by existing prices. The more fluctuations in prices, for example, during a period of inflation, the more fluctuating income in cash.
The principle of distribution of finance in the economic system
The main function of finance is to distribute funds within the subsystems of the national economic structure. At the same time, finances are formed by separately acting subjects. In order to attract large investors, these funds must be pooled. For this in financial system there are intermediaries that directly interact with finance, as well as carry out their economic activity through their management and distribution. These intermediaries include:
- banks;
- investment and mutual funds;
- various companies making investments;
- savings associations and others.
Their main function is to accumulate funds by placing the savings of subjects on their own accounts, for which they pay interest to economic agents for the use of funds. Income financial companies is formed by the difference between the percentage that is paid for the provided resource and the percentage received by existing resources. Money holders can also invest in stock instruments and use the services of professional intermediaries such as brokers and dealers.
At present, the financial market has reached the point where the entity can choose the most appropriate placement methods own funds, make an investment portfolio with instruments of varying degrees of liquidity. A variety of services in the field of finance not only attracts new customers, but also makes it possible to optimize the activities of economic agents.
Thus, the distribution of finance is one of the most important areas of activity at the level of the national economic system. The success of the functioning of this subsystem affects the stability of the country's economy and its growth potential.