Abstract: When fighting organized crime, including terrorism, the main goal is to fight its internal and external financing. In this article the author points out the weakest links in the sphere of fighting terrorism financing, and he offers the possible solutions for the problem.

Keywords: jurisprudence, fighting terrorism financing, changes in legislation needed, defects of the Federal Service for Financial Monitoring, the Ministry of Internal Affairs, high level of latency of terrorism financing, lack of judicial and investigative practice, investigator polling, coordination defects, interaction defects, subjects of the operative investigation activities.

Abstract: This article contains analysis of some types of state and municipal securities issued in the USA in order to finance the budget deficit and certain economic and social programs. The USA has one of the strongest economies in the world, and it also holds a first place in the world on the amount of loans, which are not now beyond 16 USD Trillion. The most of the public debt in the USA is formed by securities issued by state and municipal bodies, municipal debts including debts of all government bodies except federal ones. The analysis of some types of financial instruments as issued by the federal government, the states, municipalities and non-governmental organizations is of special value within the context of analysis of the public credit institution, since in the USA issuing of securities by the government bodies or other empowered subjects is a dominating form of public loan. It is necessary to point out that the evaluation of key parameters and characteristic features of this type of financial instruments allows to hold a detailed study of public loans in the USA, and it may also serve as a basis for the further analysis of Russian theory and practice of use of state and municipal securities as a mechanism of loans by the government bodies of various levels.

Keywords: state securities, municipal securities, budget deficit, state debt, municipal debt, issue of securities, debenture bonds, promissory notes, guarantees, financial instrument.

Abstract: The article contains analysis of the basic accounting regulation in the conditions of economic integration. Based upon the analysis of the treaties within the frameworks of the WTO and the Customs Union, the author draws a conclusion that development of legal regulation in the sphere of accounting is based upon the principle of harmonization. It is shown that the general domestic principles of accounting should apply to the accounting issues for the WTO an the Customs Union Member States. The author offers to amend to the Federal Law On Accounting with the definition of general principles of accounting including systemic provisions on these principles in a special chapter of this Law. Attention is paid to the revival of the term “economic subject” and economic and legal character of the accounting objects. The author points out the tendency for the standardization of state regulation in the economic and legal spheres of accounting. The article presents a system of non-state regulation of accounting, and it contains a conclusion on the need for self-regulation in this sphere. Based upon the analysis of the legislation of the Customs Union Member States (the Russian Federation, the Republic of Kazakhstan, the Republic of Belarus) the author makes a conclusion that the accounting rules are generally harmonized, and they allow for activities within the integration framework. The author expresses an opinion that the trans-border character of the accounting presupposes the need to form unified requirements to the accounting profession and formation of an attestation system.

Keywords: accounting, the Customs Union, the World Trade Organization, accounting, international standards, economic subjects, auditing, the accounting registers, consolidated accounting reporting, chief accountant.

Abstract: Accounting generally does not view an enterprise as a capital investment object. This position is at the crossing point of several economic disciplines (investment and corporate management, accounting), and it also allows for application of legal concept creating misunderstandings among accountants, lawyers and investors, since they are “speaking different languages”. This study allows to bring into accord legislative, accounting and financial terms, to improve the balance structure using alternative accounting approaches and allowing to bring accounting reporting closer to the information guarantees of enterprise investors interests and to make their legal protection easier. The article includes proposals for the improvement of the assets side of the balance sheets of the Ukrainian enterprises. The author provides proof that the assets side of balance sheets of the enterprises is not systemic, and various classification criteria are being mixed together. In order to bring legal and accounting approaches into accord, it is necessary to exclude ‘gaining corporate rights” from the definition of financial investment (on P(S)BU 12, and regard investments into corporate rights as capital contributions in different data storage systems. It is necessary to single out self-investments into other data storage systems in accounting and calculating assets. It is also reasonable to single out non-material resources. The titles of the divisions of the assets side should be renamed in accordance with the applicable classification criteria for the elements of assets.

Keywords: property, assets, resources, means, savings, corporate rights, financial instruments, capital investments, material objects.

Abstract: This article is devoted to the topical issues of financial and legal regulation of inter-budgetary relations in the Federal Republic of Germany. The article includes analysis of the financial levelingoff as one of the central institutions in the budget law of the FRG. Special attention is paid to vertical and horizontal mechanisms of financial leveling-off among the budget potentials of the federal lands. Financial leveling-off is understood as distribution of authority, income and spending among the various levels of government in a state. Financial leveling-off is a complicated multi-stage process, and each of its stages has its own specific features. The article contains a conclusion on the need to combine horizontal and vertical mechanisms for the financial leveling-off. The final goal of the financial leveling-off is to provide all the budget system levels with the due amount of finances needed to implement their goals, and it may be achieved thanks to the multi-stage character of financial leveling-off. The authors also pay attention to the detailed normative legal regulation of financial leveling-off in the Federal Republic of Germany, including the level of the Basic Law of the FRG.

Keywords: budget law, financial leveling-off, horizontal financial leveling-off, vertical financial leveling-off, VAT, distribution of tax income, interbudgetary relations, inter-budgetary transfers, the Basic Law of the Federal Republic of Germany, budget.

Abstract: The article contains analysis of the issues regarding the further improvement of the budget relations. In spite of the amendments and additions into the Budget Code of the Russian Federation, a number of terms, including budget, budget process, stages of budget process, inter-budgetary transfers, etc. need to be clarified and amended. The article contains analysis of the norms of the Budget Code of the Russian Federation, and the norms on budget income in particular. The author evaluates the issue of the importance of regulating budget incomes in addition to “fixed” allocated incomes of the various levels of budgets within the Russian budget system. Regulating incomes are quite important in the conditions of instability of economic development in a particular state and financial crises. The article includes analysis of the norms on the formation of various funds within the expenditure budget, namely the Reserve Fund of the President, reserve funds of executive bodies, municipal bodies, etc. An important role is provided for the procedural norms of the budget law, especially the stages of consideration and approval of the federal budget.

Keywords: budget, budget process, budget policy, budget income, regulating income, tax income, budgeting, stages, zero reading, procedure.

Abstract: A dministration o f t he b udget i s a complicated multi-stage procedure. We currently may find that all of the information and activities are concentrated at the Federal Treasury. It fully reflects the nature of the current reform. The cash execution of the federal budget is one of the key spheres in the activities of the Federal Treasury, and it is being changed constantly due to development and introduction of the management elements for the liquidity of the single federal treasury account. The goal of this work is to provide for more efficient and higher quality budget funds management, which is aimed to guarantee the unconditional performance of the federal monetary obligations in time of their due payment. T he c hoice o f c ash e xecution o f t he budget has a number of positive features in the sphere of budget process organization. First of all, since the individual accounts are situated at the Federal Treasury bodies, and the recipients of funds interact directly with the treasury bodies, the needed period of time for the performance under the payment documents for budget obligations is shortened. Secondly, the periods of time for receipt of the information on the operations in the personal accounts of recipients of funds are also shortened, which allows for a more operative decision-making competence of financial (duly empowered) bodies in the sphere of financing certain budget spending while being free from the technical functions in the sphere of opening and management of accounts facilitates budget independency and improves efficiency of budget funds management. The option of cash execution of the budget with the personal accounts being opened by the key spending units, spending units and recipients of funds and due provision of information on budget obligations and financing limitations guarantee most efficient management on a condition that the system of electronic document flow is used to its maximum. One of the key functions of the Federal Treasury bodies is calculation of the incomes into the budget system and spread of these incomes among the various budget system levels.

Keywords: cash execution of the budget, the Federal Treasury, principle of common pull of funds, liquidity of a single account, budget system, budget process, banking implementation system, treasury system, the single budget account system, cash receipts.

Abstract: The article provides for the various points of view on the term “financial policy”. The author provides her own definition of this term, and she singles out a number of types of financial policy. Among the main goals of the credit and financial policy she recognizes the support of the national currency rate in comparison with the globally leading currencies. The credit and financial policy may be divided into monetary policy (the policy in the sphere of monetary turnover) and credit policy. It follows, that credit and financial policy also includes currency element. The currency policy should be regarded as an important element of credit and financial policy. Therefore, the currency policy is a part of financial policy of a state, which is aimed to support the currency and financial position of the state, its paying and credit capacity, formation of the sound national currency and stabilization of the domestic market, development and support of international economic cooperation, guarantees of flow of currency from abroad within the framework of the foreign economic turnover, stopping the capital flight, etc.

Keywords: financial policy, monetary and credit policy, currency policy, state policy, definition of the state policy, the Bank of Russia, types of financial policy, definition of policy, state policy, policy in the sphere of finances.

Abstract: The object of the study includes financial legal norms regulating the social relations in the sphere of currency operation processes, including the norms, which are currently not in force. The goal of the article is to use the historic method in order to study the process of liberalization of the currency regime in the Russian Federation since 1990s to the modern time, and to develop the key directions for the improvement of the modern currency legislation. The methodological basis for the study was formed by the general scientific method of dialectic cognition, historical method, as well as the methods of analysis, synthesis, induction, deduction, etc. The results of the study allow to single out the key directions for the liberalization of the currency legislation of the Russian Federation for the last 25 years, and to develop the concept for the further improvement in the sphere of currency operation. The results of the study may be used by the legislative bodies in order to further improve the currency legislation, as well as for teaching financial law and related specialized studies.

Keywords: currency regulation, currency liberalization, currency control, currency, currency valuables, currency legislation, currency control bodies, currency control agents, currency operations, currency limitations.

Abstract: When the Unified Social Tax was abolished, the issues regarding economy in the sums of payment to the state non-budgetary funds as insurance fees became a foremost important element for the optimization of the fiscal burden for the economic entities. Establishing the amount of insurance objects and formation of the basis for the calculation of the fees cause a number of difficulties to taxpayers, and the prerequisites to these difficulties are being studied in this article. The author points out the shortcomings of the legal techniques used in the relevant legal norms, regulating the legal relations arising from the obligations towards the state non-budgetary funds and the practice of their interpretation by the lawenforcement bodies, provides legal analysis of exemptions from payment of insurance fees for physical persons, discusses some ways to overcome the existing problems arising out of non-inclusion of certain types of payments into the taxable amount. The author also makes propositions on the improvement of the exemption mechanisms in the current social insurance legislation.

Keywords: insurance fees, state non-budgetary fund, object of insurance, salary, compensation, exemption, optimization, labor relations, relief, law.

Abstract: The article is devoted to the problem of tax regulation of the innovative activities in the conditions of the innovative development of the Russian Federation and the innovation policy of the state. The article contains analysis of a number of normative legal acts, documents and programs, defining the terms “innovation” and ‘innovation activity” for the taxation purposes, since the Tax Code of the Russian Federation fails to provide details on these terms. The author studies specific features of taxation for the innovative activities subjects. Additionally, the author discusses the tax relief mechanisms for them, methods of tax stimulation in this sphere (tax exemption for the VAT, investment tax credit, etc.). The author points out contradictions and shortcomings in the current taxrelated legislation regulating innovative activities, their taxation and tax benefits. Additionally, the author formulates the propositions for improving the legislation in this sphere.

Keywords: innovations, innovative, regulation, taxation, stimulation, exemption, Research and Advanced Development, tax, legal, tax.