Consider the concept of finance and financial law. It is understood as the sum of legal norms that govern relations in societies that appear during the formation, distribution, and use of local and state types of financial resources.
The sub-sectors of financial law cover a specific, specific circle of public relations. They are explained by the fact that the state uses money to solve its own problems and tasks.
general information
What is the subject of financial law? It means social relations that appear as part of the state’s activities for the gradual distribution and use of fixed assets for the implementation of certain tasks. Finance is becoming one of the economic categories. Among them, the cost and profit, without which the functioning of the state is impossible.
Country Activities
Financial law as a branch of law is the sum of economic relations that appear in the framework of the formation and use of various funds. There are four main functions:
Distribution (within the framework of which various budget options are created and distributed).
The control function (regulated by the norms of municipal, state, public entities to verify the appropriateness and completeness of planning).
Regulatory (state influence on reproduction by financing certain industries and enterprises, social shares).
Stabilization (providing subjects of legal relations with social and economic conditions)
How are financial relations established in our time? Financial law regulates the activities of the state in the creation, redistribution, accumulation, use of monetary resources in the framework of the implementation of the tasks of economic and social development, guaranteeing its security and defense.
Principles
The activities of the state are based on the principles that are enshrined in the Constitution of the Russian Federation. Fundamental to financial law is legality. Its essence is that the distribution of material resources is subject to the laws of the country. For any violations, administrative and criminal sanctions are applied.
The subject of financial law is the distribution of cash. The essence of federalism is the establishment by the Constitution of the country of differentiation of competencies in the field of currency and credit regulation.
Thanks to the unity of state policy regarding investment in Russia, a single economic space is created, and free movement of funds is ensured.
The principle of participation of ordinary Russians in the financial activities of the country and local authorities is guaranteed by the Constitution. Citizens have the right to both directly participate in the distribution of funds, and through representatives.
Planning indicates that the state applies a variety of financial management methods, which depend on numerous factors. Among them it is necessary to name the following: subjects of legal relations, features of accumulation, use of monetary resources.
Methods of conducting financial activities
Public finances are controlled by using different methods:
Taxes, thanks to which the state in a certain form (at specific dates) withdraws funds to budgets of various levels.
Securities acquisition, bank deposits, donations.
Insurance (funds raised for cash circulation).
Other types
Application and distribution
Public finance involves their planned application and distribution. Through the free and irrevocable provision of resources to various entities, the stability of the social spheres is guaranteed. The subject of financial law is public relations. They arise in the course of local government and state activities in the formation, distribution, and use of funds of monetary resources.
As the main method that is used for this, we consider the state-power prescription for some participants in relations on the part of others, for example, the state.
Specificity
The subject of financial law is the interaction of different participants in the company. Therefore, this section of management has specific features (differs from other industries). Since it applies to one of the areas of the state’s functioning, there is a close relationship between it and state (constitutional) and administrative law for those types of activities that are not influenced by regulation by such sectors.
Since the subject of financial law is the relationship of various subjects of society, it is important to note the following forms of work:
Structure
In our country, the financial system is the sum of state institutions and bodies. In particular, the State Duma deals with issues of the federal budget, tax collections, foreign exchange, customs, credit operations, and money issues. In addition to it, according to the Constitution of the Russian Federation, there are representative federal bodies of the constituent entities of the Russian Federation, the main task of which is to discuss, approve, and control budget execution at the republican level.
The government of the country, which exercises executive power, is engaged in the development, submission to the State Duma of the federal budget, and also ensures the clarity of its implementation.
The competence of representative authorities (in addition to other functions) includes financial issues, the solution of which ensures the full value of activities at the state level (of individual entities, municipalities).
The head of state (president) controls the coordination of actions between various authorities, using the Constitution of the Russian Federation, federal laws. It is he who determines the direction of foreign and domestic policy.
The federal executive body, which is the Ministry of Finance of the Russian Federation, guarantees the conduct of operations with monetary resources, and exercises general management of them.
He heads the system of credit organizations existing in our country, the Central Bank of the Russian Federation. Together with the Government, it determines the state policy in the field of finance, monitors the activities of commercial banks, and carries out money issue. The Central Bank of the Russian Federation has the right to issue some normative acts, which are binding on all bodies of the federal, regional, municipal authorities, legal entities and individuals.
To summarize
In our country, control over financial activities is carried out by the following bodies:
Financial law is an independent industry, it is a set of rules that allow you to regulate social relations that appear as part of the distribution and use of funds by the state. Only with the interaction of all elements of the system in the country is stability possible.