On the economic feasibility of accumulating funds. Tax functions

Authorized body for the accumulation of funds from the contributions of the Forum participants and sponsorship is the state budgetary institution of the Republic of Sakha (Yakutia) "Center for socio-psychological support for families and youth." The word accumulate is translated as accumulation, but we collect contributions from participants and deposit them into the settlement account of the institution, after which we spend according to contracts. In this case, what is the correct wording?

Answer

In clause 3.2. Appendix No. 3 of the Decree of the Government of the Republic of Sakha (Yakutia) dated 07/01/2016 No. 231 "On the Youth Forum" states that the authorized body for the accumulation of funds from the contributions of the Forum participants and sponsorship is the state budgetary institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological family and youth support.

Encyclopedic dictionaries say that the ACCUMULATION OF MONEY is the process of gradual accumulation of monetary resources by a person, company, country. Or Accumulation of Funds is the concentration of own, borrowed or borrowed financial resources for the implementation of commercial projects. Those. in your case, the accumulation of funds from the contributions of the Forum participants and sponsorship can be considered as an accumulation Money for the implementation of the activities.

The State Budgetary Institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological Support for Families and Youth" keeps records, controls and spends funds received from contributions from forum participants and sponsorship. Therefore, in your case, it should be indicated that the accounting, control and further spending of funds received from the contributions of the Forum participants and sponsorship is carried out by the state budgetary institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological Support for Families and Youth".

Rationale
GOVERNMENT OF THE REPUBLIC OF SAKHA (YAKUTIA)

ABOUT YOUTH EDUCATIONAL FORUM

(as amended by the Decree of the Government of the Republic of Sakha (Yakutia) dated July 3, 2017 N 230)

Appendix N 3

III. Spending of funds, the source of financing of which is the contributions of the Forum participants and sponsorship

3.1. The amount and procedure for making a fee for participation in the Forum is accepted and approved by the Organizing Committee.
3.2. The authorized body for the accumulation of funds from the contributions of the Forum participants and sponsorship is the state budgetary institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological Support for Families and Youth".
The receipt and expenditure of these funds is made through the personal account of the state budget institution Republic of Sakha (Yakutia) "Center for socio-psychological support of families and youth".
3.3. The funds, the source of financing of which is the contributions of the Forum participants and sponsorship, are used to pay for the following services:
for the disposal of liquid domestic waste, solid domestic waste;
for the production of art objects;
professional photographer;
stationery costs;
organizing and conducting cultural and sports programs;
communication services (Internet, wi-fi).

Hello! In this article we will talk about the accumulation of funds.

Today you will learn:

1. Interpretation of the term "accumulation";
2. What are the functions of accumulation?

What is accumulation

We are all hoarding. Someone collects unnecessary things and takes them to the country, someone saves working days to get a long vacation, and someone saves money. Let's talk about the latter.

Banks need deposits to attract citizens' funds with a view to their further redistribution for a higher percentage.

After all, in fact, when you relate your available funds to the bank, you give the bank a loan at a certain percentage, the interest on the deposit. The bank then lends these funds to those in need in order to earn interest on the loan.

On this moment banking organizations have in their capital no more than 20% own funds, 80% are attracted.

Thus, banks and banking organizations are some kind of intermediaries between citizens who have temporarily free funds and those who need them.

The Bank unites such economic entities by time (that is, it provides a loan when it is needed and for a certain period), by quantity (provides the amount that is needed at a time) and by place (no need to look for borrowers and lenders, all in one place).

Banking activities for the accumulation of funds have several features:

• The Bank directs the accumulated funds to meet other people's needs and requirements;
• Ownership of the accumulated funds remains with those who deposited them in the bank, that is, with depositors;
• Accumulation and redistribution activities borrowed money requires a license;
• The bank's own free cash occupies a relatively small share in its capital;
• The activity of accumulating temporarily free funds is one of the most important functions of the bank.

Accumulation functions

And, finally, let's think about why the activity of accumulating temporarily free funds is important for society and the state.

The first function is reallocation of funds, support for small and medium businesses. Often, owners of small and medium-sized businesses become bank borrowers.

In addition, the development of small and medium-sized businesses allows the development of the country's economy as a whole and makes a significant contribution to the state budget.

The second function is reducing the cost of finding borrowed funds. In the laptop example, citizen “A” would have to go around several people, conclude several contracts in order to receive a sufficient amount. Accumulation avoids paperwork.

The third function is profit from temporarily free cash. As you know, money should work.

Accumulation is the activity of getting money from money. At the same time, profit is received not only by those who accumulate funds, but also by those who contribute their free funds and receive interest for them. Remember.

Thus, the accumulation of funds allows you to redistribute funds, develop small and medium business in the country, replenish the state budget and improve the standard of living of the population.

The budget, being for the state a means of accumulating financial resources, gives the state power the opportunity to maintain the state apparatus, the army, the implementation of social measures, the solution of priority economic tasks and performance of other functions inherent in the state.

Essence state budget as an economic category is implemented in three functions performed by the budget:

Distribution,

control,

Fiscal.

The content of the distributive function of the state budget (or the function of economic regulation) is implemented in the process of formation of revenue sources of the budget and their use for economic policy states. Financial resources accumulated in budget system through tax and other obligatory payments of economic entities and citizens, in accordance with the socio-economic policy pursued by the state, they are then redistributed both to the spheres of material production, which are of priority importance for the country, and to the sphere of non-material production, which is supported by the budget.

The process of distribution and redistribution of financial resources takes place not only between different levels of government, but also between different departments of social production. Such a scope of the scope of the distributive function of the budget is determined by the fact that almost all participants in social production enter into relations with the budget.

The main object of budgetary redistribution is net income However, this does not exclude the possibility of redistribution through the budget and part of the cost of the necessary product, and sometimes national wealth.

The control function of the budget is that the budget is an objective quantitative reflection of the economic processes taking place in the structural units of the economy - the quantitative characteristics of the formation and use of the fund of funds act as indicators of how financial resources come to the state from various economic entities. The budget shows whether the size of the resources at the disposal of the state corresponds to the volume of its needs, whether direct public investment and so on. budget process the bottlenecks of the economy are identified, and the Government has the opportunity to adjust the direction of movement of centralized financial resources in order to influence the activation of certain sectors of the economy.

The fiscal function of the budget is to implement the fiscal policy of the state - the impact of the state on business activity by changing the volume of public spending and tax rates. For example, as is known from economic theory, if the unemployment rate is considered unacceptably high, then the state can reduce income tax and/or increase government spending, which will lead to growth business activity and reducing unemployment. Thus, fiscal policy serves as a tool for controlling unemployment and inflation, increasing the investment activity of financial resources, and increasing the overall economic potential.

The National Fund of the Republic of Kazakhstan performs savings and stabilization functions.

The savings function ensures the accumulation financial assets and other property, except intangible assets. The stabilization function is designed to reduce the dependence of the republican budget on the world price environment for raw materials. The formation and use of the National Fund of the Republic of Kazakhstan are determined taking into account the conjuncture of the world and domestic commodity and financial markets, the economic situation in the state and abroad, the priorities of the socio-economic development of the republic while maintaining macroeconomic and fiscal stability and observing the main goals and objectives of the National Fund of the Republic Kazakhstan. Trust management of the Fund is carried out by the National Bank of the Republic of Kazakhstan on the basis of an agreement on trust management concluded between the National Bank of the Republic of Kazakhstan and the Government of the Republic of Kazakhstan.

Select correct judgments about the state budget and write down the figures under which they are indicated.

1) One of the functions of the state budget is financial security functioning of the state apparatus.

2) The deficit of the state budget can lead to a reduction in social spending of the state.

3) Budget revenues include services public debt.

4) A budget surplus is a situation where planned expenditures exceed government revenues.

5) The expenditure part of the budget shows for what purposes the funds accumulated by the state are directed.

Explanation.

The state budget is a document that describes the income and expenses of a particular state, usually for a year. The state budget is the main financial plan country with the force of law. The budget is a way of redistributing the monetary incomes of the population, enterprises and other legal entities in the interest of financing government and other public expenditures. State budget revenues: taxes on legal and individuals, receipts from the real sector (profit tax), receipt of indirect taxes and excises, duties and non-tax fees, regional and local taxes. State budget expenditures: industry, social policy, Agriculture, public administration, international activities, defense, law enforcement, science, healthcare.

A balanced budget is a budget in which the ratios of income and expenses are equal. If revenues and expenditures in the budget differ, then the budget deficit or surplus. The budget deficit is the amount by which the government's spending exceeds its revenues. A budget surplus is the amount by which government revenues exceed its spending. Surplus occurs quite rarely, most often there is a budget deficit. That is, for the implementation of all expenses, it is necessary to find additional funds. These funds come from funding sources budget deficit. Sources of financing the budget deficit: domestic financing (issuance and sale valuable papers; budget loans received from budgets of other levels; use of funds central bank) and external financing (sale of securities on the global financial market; loans from foreign banks and international financial institutions; loans from foreign governments).

1) One of the functions of the state budget is financial support for the functioning of the state apparatus - yes, that's right.

2) A state budget deficit can lead to a reduction in the state's social spending - yes, that's right.

3) The service of the public debt belongs to the budget revenues - no, that's not true.

4) A budget surplus is a situation where planned expenditures exceed government revenues - no, that's not true.

5) The expenditure part of the budget shows for what purposes the funds accumulated by the state are directed - yes, that's right.

Many people are engaged in this or that accumulation. So, some save their working days, so that later they get a big health vacation, others collect things, and then they take everything that has accumulated safely to the country, and still others prefer to accumulate money. In the article, we will take a closer look at the last hobby, which is called “accumulation of funds” in literary language.

Concept definition

What is accumulation anyway? Translated from Latin, this word means "accumulation". In our case, we are talking about the financial side of the issue, and, therefore, the accumulation of funds implies the accumulation of one's own or externally attracted funds in order to benefit by providing these financial assets to a person in need at a certain percentage.

In simple words, the accumulation of funds is good way increase capital. From the outside, everything seems quite simple, but in our time there is a problem of uniting persons who own free funds in the required amount and people who need them.

The accumulation of funds is an important phenomenon in the economy of any state. Among the main functions that are performed by this process, the following should be indicated:

• Redistribution of financial assets, support for businessmen and entrepreneurs. So, often representatives of medium and small businesses become borrowers of banks, as well as individual entrepreneurs. There are situations when initiative people have great ideas and promising projects are developed, but there is no finance for their implementation in practice. Here, the accumulated funds come to the rescue, which are concentrated in the same hands and can be directed to those people who know how to make money not just lie in the bank, but work.

• Saving valuable time looking for borrowed money. Instead of concluding loan agreements with several holders of free funds, it is enough to apply to one.
• Making good profits. As you know, accumulation is beneficial both for those who accumulate money and for those who contribute their free funds and receive a previously agreed percentage for this. According to many financiers, assets should not be "dead" capital, but, on the contrary, always rotate in cash flows, since inflation manifests itself constantly and can cause the depreciation of "stale" cash in the chest of drawers.

Examples of accumulation of funds

Often, ordinary citizens and owners of small or medium-sized businesses have situations when a large amount is urgently needed, but there is none on their hands. In this case, a citizen can apply to several borrowers and collect the necessary amount of money (for example, to buy a home or a car). The citizen will have to continue to pay interest within the agreed time frame to each of the borrowers. This, of course, is inconvenient and takes a lot of time. And if one of the borrowers pooled their free funds and others' funds and borrowed them for a needy citizen, then this would already be an accumulation of citizens' funds. Bank today at financial world plays a leading role in terms of the concentration of their own and other people's money and their subsequent use. Therefore, most of the population now prefers to apply for a loan to a banking organization rather than to a private person.

Bank accumulation

IN modern society the brightest representative, which is characterized by the accumulation of funds, is credit and commercial structures, in particular, banks. It is they who are engaged in the fact that they concentrate the free money of the population with the aim of their further redistribution and profit.

Few people know, but earlier banks used exclusively their own free funds. However, over time, the popularity of these organizations has grown significantly, and they began to borrow money from citizens. Thus appeared different kinds deposit deposits. Why do banks need such deposits? The accumulation of money is done in order to attract free financial resources of the population and their redistribution for a more significant percentage. The whole point is that a person takes his funds to the bank and borrows a certain amount for him at interest (the corresponding interest on the deposit). The bank, having received this money, borrows it for needy people at an even higher percentage, that is, it provides a loan.

According to statistics, today banks have about 20 percent of their own funds in their arsenal, while borrowed funds account for 80%. This information confirms the fact that a banking organization is a kind of intermediary between persons who own free money and those who need it.

Methods of bank accumulation

One of the most common ways to attract free funds of the population and non-profit organizations are contributions. To attract as much as possible more money, banking structures use such forms of savings as: bonus, pension, youth, winning, etc. In some countries, in addition to the interest received from the deposit, additional services are provided to the population (free postal orders telegraph, trade services, etc.). For example, in the United States, savings deposits of the population occupy the first place among term deposits.

Features of the activities of banks

Job banking organization on the accumulation of funds has a number of features:

• the bank directs the accumulated funds to solve other people's problems (needs);
• the accumulated funds by right of ownership still belong to the one who brought them to the bank;
• activities involving the accumulation and redistribution of funds must be confirmed on paper - a license;
• own free funds make up only a small part of the total capital of the bank;
• the accumulation of free cash is the most important function of a financial institution.

Pluses of accumulation

Consider what is good savings for citizens and the state as a whole. The accumulation of citizens' funds allows the holders of free money themselves to profit from them. In addition, accumulation helps develop small and medium-sized businesses in the country, replenish the state treasury, and at the same time improve the standard of living of the population. As for the replenishment of the state budget, not the last role is played by state banks, which act as guarantors of the preservation of deposits of citizens. Often people, choosing between private commercial organizations and state ones, opt for the latter, since the level of trust here is much higher. Commercial structures, in turn, attract the population with higher interest rates By deposits and lower - on loans.