In order to better understand what a system of financial law is, you need to understand the concept of "finance", which is the key in this topic. So, in economic literature, as in legal science, the concept of "finance" can have two meanings. According to the first, finance is a set of certain economic relations that usually arise in the distribution and further use of various monetary funds. The second value defines finance as the aggregate of funds mobilized by the government to carry out a number of tasks.
Thus, finances are considered to a greater extent not as money, but as relations between people in transactions with them. Finance is a means of distributing national income, controlling the distribution of the country's monetary funds, and stimulating the country's development.
The rules of law that regulate financial activities are grouped into a number of legal institutions, on which, in fact, this legal system structure is based. Institutions are called interconnected groups of legal norms that govern public relations within the form of law.
Since financial legal norms are established by the state, the financial law system consists of 2 parts - a common part and a special one.
The general part includes the rules governing and describing the general forms, principles and methods of financial activity, the system of state bodies that carry out this activity, the legal status of bodies and the position of subjects of financial relations. The general part also relates to the issues of managing financial control and those principles that underlie foreign institutions of financial law.
The special part describes the institutions of financial law in a clear sequence. It is established that the main is the institution of budget law. It is the budget system that accumulates all the main state financial resources that ensure the activities of the authorities. There are also extrabudgetary funds, which also relate to centralized finance. It should be noted that the legal institutions that regulate relations in this area are considered basic and stand out from the rest of the financial and legal institutions.
Since the system of financial law is based on the budget, that is, state revenues and expenses, in this area there is its own institution - the state revenue institution. He has the rules that govern the tax relations of individuals and legal entities. State revenues include institutions that combine legal and financial norms, regulate decentralized monetary funds, as well as norms relating to state insurance and lending.
In order for the state’s financial system to function normally, one should not only accumulate income in money funds, but also spend it wisely. So, the next legal institution is the institution of state spending, which includes bank lending, budget financing, public debt and insurance.
Since financial activity is based on monetary circulation, currency legislation is of great importance in the system of financial law.
Summing up, it should be noted that the financial law system is a kind of reflection of the unified financial system existing in the state. In its general part, the basic phenomena and concepts of state financial activity, the peculiarities of legal norms in financial relations, and financial and legal institutions are fixed. A special part characterizes these institutions in a certain sequence. The principles of financial law are the basis for studying discipline and conducting financial activities in the state.