The totality of cash income, receipts and savings of business entities and the state is called financial resources.

The source of financial resources is GDP, receipts from foreign economic activity, part of the national wealth. Their volume, structure and dynamics determine the volume, structure and dynamics of financial resources.

Financial resources business entities are represented by profit and depreciation. Financial resources of the state - revenues of the budget system (tax, non-tax, gratuitous transfers) and other resources of the budget system (receipts from sources of financing budget deficits).

Financial resources can be generated and used in the form of funds Money. Cash funds are characterized by organizational separation of funds (in a separate bank account, in accounting, financial documents), as well as the strictly targeted nature of its formation and use.

The financial resources of the state are exclusively used in the form of funds. This is a budget fund and outside budget funds(Social Insurance Fund, Pension Fund and Mandatory Funds health insurance). Also in Russia created and reserve funds:

Reserve fund - part of the funds federal budget subject to separate accounting and management in order to carry out oil and gas transfers in the event of insufficient oil and gas revenues.

Fund national welfare– part of the federal budget funds used to provide co-financing of voluntary pension savings citizens, as well as to ensure a balanced budget of the Pension Fund.

Business entities can form a depreciation fund, as well as reserve funds, production development funds, research and development activities (R&D) and others.

Financial reserves are that part of financial resources that is intended to compensate for the consequences of unforeseen events.

Organizations use financial reserves to cover losses, pay off debts, and eliminate consequences natural Disasters and man-made disasters, etc.

Government agencies use these funds to eliminate the consequences of national disasters.

Financial resources are the most important source of expanded reproduction and growth of material living standards. Therefore, a decrease in the volume of financial resources may limit the possibilities of targeted influence of finance on the development of the economy and the solution of pressing economic and social problems.

At the same time, the volume and structure of the RF are related to the level of development of production and its efficiency. Constant growth and development of production underlie the increase in FR.

Business entities are developing decentralized financial resources. At the state level, centralized financial resources are formed.

Finance and credit... Cornerstones, without which the construction of a harmonious building is unthinkable market economy. Finance and credit are a harsh daily reality, before some of which the most incredible fantasies fade.

M.V. Lychagin

Introduction

In the financial community, no one doubts the fact that the world is increasingly turning into a single market. Over the past two decades, everyone has seen the acceleration of the globalization of financial markets. This is expressed, first of all, in the fact that international financial markets have expanded significantly, and the volume of transactions has increased foreign exchange market and capital markets have increased markedly.

IN modern conditions the impact of geofinance and global financial systems on an individual state is moving to a qualitatively different level. As Yu.M. rightly notes. Osipov, taking into account the dominant position occupied by the financial component in the modern economy, we have the right to characterize the latter as an economy that is basically managed financially, through financial mechanisms, with the help of financial leverage, financial incentives and financial purposes. And globalism, currently demonstrated by economic civilization, precisely creates the conditions for the establishment of a special financial power, which, through the ownership of world money and the disposal of value, management of financial flows, makes it possible to influence both the entire world economic space and individual states.

According to E. Kochetov and G. Petrova, “the essence of new content financial flows is that, on the one hand, they are divorced from reproduction cycles (moving into the virtual geo-financial space), on the other hand, they fill exchange value with new content. In this situation, the deepening of the process of moving away from equivalent exchange and the flow of financial flows into speculative capital form a new historical and economic situation, when the science of financial management receives a new function of regulating global cash flows.

Today, it is more important than ever for a competent economist, financier and accountant to know the nature of finance, the principles of their organization, the mechanism of their interaction with other categories, to understand the peculiarities of their functioning, to correctly choose methods and tools for more efficient use of finance in social production to ensure sustainable economic growth. In our opinion, the study must begin with basic course“Finance”, which is included in the federal state educational standard of higher education vocational education when preparing graduates in the field of study 080000 “Economics and Management”.

The “Finance” course is one of the fundamental ones and forms the basis of knowledge in the field financial relations. The information and methodological basis of the course is laid when studying economic theory. The course is conceptually and substantively related to the block of financial and economic disciplines. The knowledge gained from studying this course is the basis for mastering such disciplines as “Organizational Finance”, “Finance and Credit”, “Financial Management”, “Investments”, “Market” valuable papers", "Insurance". The course "Finance" creates for these disciplines theoretical basis for mastering financial management processes in various segments of the economy.

The logic of studying the “Finance” course and its place in the cycle of disciplines in the theory and practice of financial management is shown in Fig. 1.

Rice. 1. The logic of constructing the “Finance” course and its place in the system of disciplines in the theory and practice of financial management

The purpose of this teaching aid– to reveal and identify general theoretical issues of the functioning of finance as a multifaceted objective economic category, inherent in modern market systems management and widely used by the state to regulate the economy at the macro- and microeconomic level, briefly outlining the essence of the topic. Having become familiar with the question and the answer to it, the reader will be able to study the problem of interest in more detail in specialized publications. Tutorial - short summary on all topics of the finance course.

The main objectives in writing the textbook were: to reveal the essence, functions and specific features of finance as an economic category; show their place and role in the system of monetary relations market economy; give a comprehensive picture of financial system country, its key links; about the structure of the financial market and the patterns of its functioning; consider the features of the formation, distribution and use of financial resources of the state, enterprises, organizations; show the role of finance in development international cooperation in the context of economic globalization.

End of introductory fragment.

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Financial resources are the material embodiment of finance, the material carrier of financial relations.

As an economic category financial resources- these are monetary savings and monetary funds formed by the state and other economic agents in the production, distribution and redistribution of the gross social product and national income.

In the economic literature, financial resources are often characterized as funds that are controlled by an economic entity, i.e. funds in the monetary circulation of an economic agent.

However, the category “financial resources” cannot be completely identified with money. At the same time, it is quite difficult to identify a clear criterion on the basis of which it is possible to establish quantitative boundaries and the specifics of financial resources and the category “cash”.

In business practice, financial resources act as a set of income, cash savings (cash reserves, depreciation charges etc.), credit resources available to the state, enterprises, households in a certain period of time.

This is a practical approach based on self-supporting business practices. Indeed, the funds available to an enterprise on a certain date in its bank account, regardless of whether they are its own or borrowed, constitute all of its real financial resources - its financial potential, in other words, this is the “financial power” of the economy agent. Income and savings concentrated in state budget, whether they are the result of the primary or subsequent distribution of created value, act as financial resources of the state on each specific date.

From the perspective of economic theory, the concept of “resource” is usually interpreted as a reserve, a source, and as a means to which one turns when necessary.

Targeted “reserves” of funds, as a rule, are “tied up” in funds (centralized and decentralized), which are used to satisfy certain needs.

A cash fund is a targeted allocation of funds (for intended use) .

The state's monetary resources are mobilized into centralized funds through tax and non-tax methods.

Decentralized monetary funds are formed at the level of business entities and households. These include: statutory funds of enterprises; wage funds; fund working capital; reserve funds formed from net profit enterprises.

Some sources of funds do not have a target orientation; they are not formed by funds. For example, part of the funds coming to the disposal of a business entity as fines, penalties, penalties for violations of the terms of agreements, contracts on the part of counterparties, partners, etc. The receipt of such funds cannot be taken into account in advance and therefore is not planned.

Financial resources imply all possible sources of funds, i.e. possibilities economic entity in the formation of means, that is, “power” in this regard, its potential.

State financial resources Moreover, the overwhelming majority is accumulated by the state through taxes.

The source of the state's financial resources is also funds raised through government loans.

Part financial resources of enterprises includes own, borrowed and attracted funds. TO own financial resources enterprises include profit, depreciation, statutory and Extra capital, as well as the so-called sustainable liabilities of the enterprise, including sources of financing that are constantly in circulation of the enterprise, for example, reserves formed in accordance with the constituent documents of the enterprise or legislation. TO borrowed funds include loans from commercial banks and other credit institutions, other loans, such as bonds. Attracted financial resources- these are funds raised through additional issue of shares joint stock companies, budgetary allocations and funds from extra-budgetary funds, as well as funds from other enterprises and organizations raised for equity participation and for other purposes.

Part of the financial resources invested by the enterprise in material and intangible assets and generating income is capital enterprises.

The structure of the financial structure of enterprises varies depending on the organizational and legal form of the enterprise, its industry, and other factors. So, for example, as part of the FR of an agricultural enterprise there are budgetary allocations, enterprises with a seasonal nature of production have borrowed funds, from enterprises with high level technical equipment, depreciation accounts for a large share.

In the economic literature, there is an opinion that it is unlawful to include short-term credit resources in financial resources, since their formation is not associated with the creation of new material wealth, but occurs as a result of the redistribution of financial resources.

Savings of the population in the form of an increase in the population’s deposits in commercial banks in its own way economic essence are a source of financial resources, since in the material aspect (from the point of view of the correspondence of the effective demand of the population and the resources of product supply and the volume of paid services) they correspond to material resources equal to the deferred demand in the ND.

Thus, financial resources include funds that are “tied up” in funds, as well as those that do not have a target orientation.

The main place in financial resources is occupied by the following elements of value: net income (profit), value added tax, excise taxes, customs duties, contributions for social needs and depreciation.

An important factor in the growth of financial resources is productivity increase social labor, which expresses a relative increase in national income in the process of reproduction, and also leads to an increase in the financial result of economic activity. Another performance indicator is closely related to labor productivity social production- return on assets (return on capital). Increasing capital productivity inevitably affects the formation of financial resources, namely the increase in their main source - net income, which increases both as a result of an increase in production volumes and as a result of savings in current costs (primarily wages and depreciation charges). Conversely, a decrease in capital productivity reduces financial resources.

Important factor- these are the proportions of dividing the gross social product into the fund for compensation of material costs and the produced national income. A decrease in the share of material costs in the social product - material intensity - contributes to an increase in produced national income - the main source of financial resources.

The growth of financial resources is also influenced by the material structure of social production in general and industrial production in particular. As is known, the rate of surplus product for industrial goods (the first division of social production) is lower than for goods and consumer products - the second division (including excise taxes and having higher profitability). In addition, turnover consumer goods in the reproductive cycle occurs faster, which in a certain period of time, for example, reporting year, will allow you to summarize the resources received from several revolutions. Therefore, the higher the share and rate of development of the second unit in social production, the greater the possible volume of financial resources.

The main sources of financial resources in the future will remain cash savings (profit, value added tax, excise taxes), income from foreign economic activity.

Financial resources that have temporary sources, such as proceeds from privatization and sale of state property, will decrease as they are exhausted. Financial resources that come from special payments and taxes of subsoil users will increase: royalties, bonuses.

A further increase in wages and consumption funds will lead to an increase in the amount of household funds attracted to financial resources.

Financial resources are in constant motion, part of the financial resources, being released from the turnover of an economic entity, is again involved in the circulation (for example, transforming into capital), another part of them, being released, is diverted from circulation and becomes a source of financial reserve of this entity, or an object of redistribution in favor of another economic entity. agent (state, etc.).

Trends in the dynamics of the volume and structure of the state's financial resources indicate that a significant increase in the efficiency of social production as a result of the implementation of the program of transition to market relations will lead to an acceleration of the pace of formation of financial resources and an improvement in their structure in the direction of increasing the share of those sources whose growth is due to intensive factors.

4.2. Economic content and essence of financial resources

It is necessary to distinguish two sides of the concept of “financial resources”:

1. In business practice, the concept of “financial resources” is the totality of income and savings of all funds available to the state, enterprises, and so on in a certain period, that is, monetary funds, credit resources, cash reserves. This is a practical approach based on self-supporting business practices. Indeed, the funds available to an enterprise on a certain date in its bank account, regardless of whether they are its own or borrowed, constitute all of its real financial resources. Also, income and savings concentrated in the state budget, whether they are the result of the primary or subsequent distribution of created value, act as financial resources of the state on each specific date.

2. If we proceed from the material and value structure of the total social product (C + V + m), its distribution and place in this process, then the concept of financial resources looks different. If we exclude the element of re-counting, then the concept of “financial resources” will express part of the gross social product and national income in value (monetary) form, which is concentrated directly with the state and enterprises to perform the functions assigned to them.

The sources of financial resources are all three elements of the gross social product: “C”, “V”, “m”.

For example, from element “C” the following are formed: depreciation charges, working capital, deductions for the reproduction of the natural environment and mineral resource base, payments included in the material costs in the cost of production of the enterprise. Element “V” is the source of such financial resources as state taxes from the population, deductions (taxes), for social needs, proceeds from loans and lotteries. Element “m” includes net income (profit), indirect taxes, income and receipts from foreign economic activities (customs duties, fees for customs procedures).

Some financial resources are formed comprehensively as part of several elements of the social product. Thus, from elements “C” and “V”, which at the level of economic entities corresponds to the costs of production and sale of products, works or services, resources are formed in the form of taxes, fees and contributions to special funds, payments from subsoil users - royalties, bonuses, tax on vehicles, National tax, payments for emissions and discharges of pollutants, etc. And such type as proceeds from privatization have a source of national wealth, that is, accumulated national income (V + m).

Defining essence of financial resources, in our opinion, it is advisable to proceed from their functional purpose in the process of expanded reproduction of GDP and income. This process is characterized by the movement of goods and money supply, consists of several stages, at each of which commodity and cash flows correspond to each other differently.

At the initial stage of movement (production) of GDP and the final stage (its use), cash flows mediate commodity flows. At the stage of distribution and redistribution, the monetary form of expression of GDP acquires relatively independent movement, since it is at these stages that financial relations arise. As a result, various monetary funds are formed, they are regrouped and final income is formed. This is how the volume and structure of national production and the needs of the national economy are coordinated, which in practice is calculated as GDP in terms of expenses and GDP in terms of income.

Financial resources - this is a quantitative characteristic of the financial result of the reproduction process for a certain period. These are the funds that can be legally used to compensate for the disposal of fixed assets, industrial and non-productive accumulation, and collective consumption. This macroeconomic indicator has a balance sheet nature, since it can be presented as the sum of both income and expenses.

Part money turnover strictly coordinated with commodity circulation, since it is realized as a result of the exchange of equivalents expressed in commodity form(from the seller) and monetary (from the buyer). When exchanging equivalents, there are no conditions for material and financial imbalance in society.

Another part of the money turnover is related to the needs of expanded reproduction of GDP. They are provided in the process of its distribution and redistribution with the help of finance. This part of the cash flow represents financial flows, i.e. movement of those funds that can be spent on the development of the national economy and meeting national and social needs.

As noted earlier, a specific feature of financial flows (as opposed to cash flows) is their non-equivalent nature. As a result of this, it is finance, in the process of distribution and redistribution of GDP, that generates the independent movement of money, which is where the prerequisites for the material and financial imbalance of the national economy lie.

The specific content of financial resources is due to the fact that they act

1) as funds of an accumulative nature,
which are formed as a result of production, distribution and redistribution of gross domestic product;

2) as final income, i.e. funds intended for exchange for goods and services;

3) as those incomes that have material (real) coverage, since they are formed as a result of the sale of goods and services, as sources of their formation (component elements):
depreciation, profit, tax revenues, non-tax revenues, capital transfers, targeted budget funds,
state off-budget social funds, others
receipts;

4) as final financial results reproduction process, since they are used to finance capital investments and overhaul fixed assets, growth working capital, purchasing equipment and durable items for budgetary organizations, costs for socio-cultural events, science, defense, maintenance of government bodies and management, etc.

So, the country’s financial resources are part of GDP and can be presented as the sum of the following indicators of the system of national accounts (SNA): gross profit of the economy, contributions to state extra-budgetary social funds, taxes on production and imports, taxes on individuals, household savings, loans received from foreign countries.

Thus, with the help of financial resources, that part of GDP is allocated that can be aimed at expanding the socio-economic system as a whole. With their help, the part of the produced GDP is distinguished between the part corresponding to the current costs of materials and labor consumed in the production process, and the fund for the expanded reproduction of production factors, including labor. From this point of view, it is legitimate to include society’s expenses on healthcare, education, social policy and so on.

Financial resources are an objective macroeconomic category, the content of which is determined by the conditions of material and financial balance of the economy. The equality of receipt and expenditure of financial resources indicates that the effective demand of enterprises and organizations, formed as a result of financing the costs of developing the national economy and functioning government agencies, has material coverage, since it corresponds to the created financial resources. Therefore, the condition of material and financial balance can be presented both in the form of a correspondence between the amount of financial resources and the volume of material goods (for example, reflected in balance sheet enterprises), and in the form of balance sheet equality of their receipts and expenditures (budgets of income and expenses of enterprises are drawn up; a consolidated balance sheet of the state’s financial resources).

Consequently, equality of income and expenditure of financial resources is a necessary part of general economic equilibrium. Being an internally necessary element modern economy, financial resources not only characterize the potential for expanded reproduction, but also act as an active factor in economic dynamics.

The economy can develop effectively and sustainably only if the basic macroeconomic proportion (between consumption and accumulation) corresponds to the natural level, determined by the socio-economic conditions of social production (development of productive forces, specific needs of society, etc.). In this case, the proportions of redistribution of the gross domestic product are consistent with the proportions of its primary distribution and lead to the formation of final income that corresponds to the structure of its use, i.e. ensure a balance between the material and financial aspects of the national production process.

The macroeconomic category “financial resources” takes on meaning when society moves to regulation economic development and there is a need to ensure a balance of material and financial flows.

The origins of discussions regarding monetary and non-monetary forms of financial resources lie, in our opinion, in determining the essence of finance itself and its boundaries. As you know, some economists believe that only monetary relations can be financial relations, but all monetary relations are financial. Others believe that some non-monetary relationships, such as barter, can also be classified as finance.

4. Financial resources as material media financial relations, sources of their formation.

Financial resources - incomes and receipts of business entities and the state represented by its bodies, which are used for the purpose of expanded reproduction and to meet other needs. Financial resources- the amount of funds allocated for fixed and working capital of the enterprise. It is financial resources that make it possible to separate the category of finance from the category of price and other cost categories. Financial resources are the material embodiment of financial relations themselves. Financial resources, being in monetary form, differ from other resources. They are relatively separate in their functions, so there is a need to ensure that financial resources are linked to other resources.

Classified: by circulation (initial and incremental), by use (materialized and those in circulation), by ownership (own, provided by the state and borrowed)

Main types of financial resources at the macro level: I. Loans from the IMF and other international organizations, plus internal loans from the Central Bank. II. Taxes. III. Contributions to extra-budgetary funds. IV. Payments by the population in local budget. V. Others.

Main types of financial resources at the micro level: I. Profit. II. Depreciation. III. Credit investments. IV. Insurance compensation. V. Proceeds from the sale of disposed property. VI. Stable liabilities. VII. Mobilization of internal resources in construction. VIII. Shares and other contributions of members of partnerships and cooperatives. IX. Income from the sale of own securities. X. Financial resources transferred from higher structures. XI. Budget subsidies. XII. Other.

Financial resources are divided into: 1) centralized(act in the form of budgetary and extra-budgetary funds and provide for the needs of reproduction at the macro level (for example, the budget)). 2) decentralized(formed by business entities and used to expand production (or provide services) and meet the social and cultural needs of the enterprise’s employees.

They're heading to following goals : a) capital investments; b) increase in working capital; c) financing of scientific and technical progress; d) carrying out environmental protection measures; e) meeting social needs ( housing stock, the sphere of preschool institutions, health camps, cultural centers); f) other similar purposes.

Sources financial resources are all three elements of the value of the social product, but the degree of participation of each of them is different.

Finance affects social reproduction in the following directions: 1.financial support for the reproduction process; 2.financial regulation of economic and social processes; 3.financial stimulation of the economy.

Reproduction costs are, first of all, the authorized capital, in which fixed and working capital are allocated. Money is needed to cover costs. To expand production (increase the element “ C ”) it is necessary to attract additional resources.

The most important source of financial resources- price Country's GDP, which consists of C+V+M(capital + salary + profit). V+M- main sources of financial resources at the macro level.

Element V , being a worker’s personal income, usually a salary, acts as a source of financial resources in 3 areas: 1. taxes (must be paid from the salary); 2.insurance payments; 3.other payments (such as trade union dues, contributions to special funds, etc.) Thus, the element V participates in the creation of financial resources at the macro level. There are 4 sources of financial resources from wages (V ):1 . taxes to the budget and extra-budgetary funds; 2 . payment of insurance premiums; 3 . purchase of securities; 4 . storing funds in bank accounts

Element M - surplus value, profit. Is the main source of financial resources in full

Financial sources are divided into: 1) sources that operate at the macro level (state level); 2) sources that operate at the micro level (enterprise level).

Sources of financial resources at the macro level: 1. GDP (first group financial sources). 2. Income from foreign economic activity (now our statistical bodies are moving to the system of national accounts (SNA), which helps to find GDP, NI, etc.). 3. National wealth. 4. Attracted (borrowed) resources.

Sources of financial resources at the micro level: 1. Sources of own financial resources (for example, revenue makes it possible to form the resources of the enterprise): external economic activity of the enterprise; the wealth of the enterprise (machines, etc., i.e. everything that can be sold). 2. The enterprise's funds, which are equivalent to its own (these are the enterprise's funds that do not belong to it, but are at its disposal):salaries (in the form of stable liabilities); vacation money (accrued, but at the disposal of the enterprise). 3. Raised funds (these are funds that are mobilized by the enterprise for financial market- securities market (RSM), loan capital, etc.): borrowed funds; by selling shares and bonds. 4. Sources that enterprises receive in order to redistribute funds: from ministries, higher authorities, from the budget;  insurance compensation(insurance is a way of redistributing funds).

5 casesrelease financial resources from cost: 1st case: when turnover accelerates; 2nd case: when production is reduced; 3rd case: when stocks are reduced; 4th case: when reducing material consumption; 5 th case: replacement own funds borrowed

7 directionsexpenses financial resources:1. capital investments; 2. increase in working capital; 3. other material costs; 4. reserves; 5. socio-cultural needs; 6. cash payments to the population; 7. assistance to other countries.

Reserves - part of the financial resources that is intended to finance needs that arise unexpectedly, and aimed at both simple and expanded reproduction and consumption. Insurance reserves – part of the financial resources aimed at compensating for damages in insured events. Insurance financial reserves are the financial reserves of insurance companies.

The modern interpretation of the concept of “financial relations” allows us to define them as an organic component of production relations that express economic ties in monetary form between the state and individual business entities 46.

Financial relationships are diverse. They are associated with monetary relations that arise 47:

Between business entities in the process of selling products, providing services, purchasing inventory;

Between business entities and superior organizations when creating joint funds of funds and their use;

Between business entities and the state, local governments in the formation of budgets and extra-budgetary funds;

Within business entities when forming and using trust funds of funds;

Between separate budgets, extra-budgetary funds;

Between citizens and the state, local governments in the formation of budgets and extra-budgetary funds.

The subjects of financial relations are legal entities and individuals: the state, enterprises of all forms of ownership, various organizations (including credit and banking), associations, institutions, citizens and other participants in the reproduction process, at whose disposal monetary funds for special purposes are formed. The objects of financial relations are financial resources - funds of the state, enterprises, institutions, organizations of all forms of ownership, individuals and other participants in the reproduction process.

Financial resources act as material carriers of financial relations. Just like with finances, economic environment there is no unified approach to determining the economic content of financial resources (Table 3).

Table 3

Approaches to determining the economic content of financial resources

Author	Definition	Criticism
V.P. Dia-	Financial resources are monetary resources, regardless of whether they exist in a separate monetary form or are the monetary expression of certain material resources.	Some authors believe that only monetary relations can be financial relations, others believe that some non-monetary relations can be classified as finance
AM. Bir-	Financial resources are defined as material resources, expressed in money, that are generated by the state or individual enterprises (organizations) as a result of the use of finance. By financial resources of a socialist society we mean the part of national income expressed in money, concentrated directly by the state or in socialist enterprises for use for the purpose of expanded reproduction and general government spending.	The position that the source of financial resources is only part of the national income was actively criticized, which actually excludes depreciation charges from the composition of financial resources.
M.K. Shermenev 50	Financial resources are funds generated and used by enterprises, associations, organizations and the state.	The definition does not fully disclose the content of financial resources and reduces their composition. Financial resources can exist not only in stock, but also in non-stock form.
VC. Sencha-	The financial resources of the national economy represent the totality of cash savings and depreciation deductions and other funds in the process of creation, distribution and redistribution of the total social product.	The most accurate definition corresponding to the distributive concept of finance. Causes criticism from supporters of the reproductive concept.
SI. Lushin,	Financial resources are understood as that part of funds that can be used by their owner for any needs at his own discretion.	The definition is too broad: according to it, all proceeds from sales can be classified as financial

48 Dyachenko V.P. Commodity-money relations and finance under socialism. - M.: Nauka, 1974. - P. 129.

49 Birman A.M. Essays on the theory of Soviet finance - M.: UNITY DANA - 1999 - 151 p.

50 Finance of the USSR: Textbook for universities / Ed. M.K. Shermeneva. - M., 1977. - 205 p. 35.

51 Finance, money turnover and credit. Textbook./Edited by V.K. Senchagov, A.I. Arkhipov. - M.: "Prospekt", 1999.

	Renia	resources
Financially credit encyclope wild	Financial resources are funds generated as a result of economic and financial activities in the process of creating and distributing gross national product	Financial resources include all funds generated as a result of economic activity, so this is too broad an interpretation
A.G. Gryaznova, E.V. Mar-	Financial resources - cash income, savings and receipts owned or disposed of by business entities or local governments and used by them for the purpose of expanded reproduction social needs material incentives for workers satisfaction of other social needs	There is no emphasis on the essence of resources. Any cash receipts can be attributed to financial resources, but, according to many, this is not true.

Potentially, financial resources are formed at the production stage, when new value is created and old value is transferred. But the real formation of financial resources begins only at the distribution stage, when the value is realized and specific economic forms realized value.

Based on the above, we can give a more expanded definition of financial relations as relations that arise between business entities and the state in the process of accumulation, distribution and use of funds, as well as their use for expanded reproduction, material incentives for workers, and satisfaction of social and other needs of society.