Notes

Financing, Credit, Investments instructions Economical Categories
Scientific gets results in the ideas of finances and even credit, according to the specification in the research object, are usually characterized to be many-sided and many-leveled.

The meaning of wholeness from the economical contact formed in the particular process of development, distribution and use of finances, as funds sources is widely spread. For example of this, in "the general theory of finances" you can find two explanations of finances:

1) "... Finances reflect cost-effective relations, formation involving the funds involving money sources, along the way of distribution in addition to redistribution of countrywide receipts according to be able to the distribution and even usage". This explanation is given comparatively to the conditions of Capitalism, any time cash-commodity relations increase universal character;

2) "Finances represent the formation of centralized advertisement decentralized money resources, economical relations comparatively with the circulation and usage, which serve for satisfaction of the point out functions and commitments and in addition provision involving the conditions involving the widened additional production". This description is brought with out showing the atmosphere from the action. We all share partly many of these explanation of budget and think expedient to make some specs.

First, finances defeat the bounds associated with distribution and redistribution service of typically the national income, although it is a new basic foundation involving finances. Also, creation and using the depreciation fund which in turn is the portion of financial domain, belongs never to the distribution and répartition of the nationwide income (of new value during the year), but to the distribution of already developed worth.

This latest very first appears to get part of value involving main industrial finances, later its relocated to the price associated with an all set product (that is usually to the benefit too) and following its realization, in addition to it is arranged the depression fund. Its source is definitely taken into consideration before hands as a major depression kind in typically the consistence of the ready products cost price.

Second, absolute goal of finances is significantly wider then "fulfillment of the state functions and commitments and provision regarding conditions for the widened further production". Finances exist in the state levels and also on the manufactures in addition to branches' level also, and in many of these conditions, when the particular most part associated with the manufactures are generally not state.

V. M. Rodionova has a different position about this subject: "real formation with the monetary resources begins on the stage of circulation, when the benefit is realized plus concrete economical forms of the recognized value are separated from the consistence of the profit". V. M. Rodionova makes an accent of finances, as distributing relations, any time D. S. Moliakov underlines industrial basis of finances. Although both of these people give quite verify discourse on finances, as an approach to formation, distribution and usage regarding the funds of money sources, that comes out of the following classification of the money: "financial cash associations, which forms at the same time of distribution plus redistribution of the partial value regarding the national riches and total interpersonal product, is related with the topics from the economy in addition to formation and utilization of the state of hawaii dollars incomes and personal savings in the widened further production, in the material stimulation with the workers for pleasure of the modern society social and other requests".

Inside the guides of the personal economy we meet with the following explanations of finances:
"Finances with the socialistic state represent economical (cash) relations, with the particular help of which usually, when it comes to planned submission from the incomes and even savings the cash of money sources associated with the state and even socialistic manufactures are formed for guaranteeing the growth involving the production, increasing the material and cultural level involving the people and for satisfying other general society requests".
"The system of development and usage associated with necessary funds regarding cash helpful guarantying socialistic widened more production represent exactly the finances from the socialistic society. Along with the totality of affordable relations arisen among state, manufactures plus organizations, branches, areas and separate person according to the movement of cash funds make financial relations".
As we've observed, definitions of money made by bankers and political experts in these matters do not change greatly.
In every discussed position there are:

1) expression associated with essence and sensation in the description of finances;

2) the definition of budget, as the technique of the design and usage of funds of cash options on the levels of phenomenon.

3) Distribution of finances as social product in addition to the value associated with national income, classification of the don planned character, major goals from the economic system and economical relationships, for servicing of which it will be used.

If decline the preposition "socialistic" inside the definition associated with finances, we might state, that it still keeps actuality. All of us meet with many of these traditional definitions of finances, without the adjective "socialistic", in the modern inexpensive literature. We might give this kind of elucidation: "finances represent cash resources of manufacturing and usage, furthermore cash relations came out in the method of distributing ideals of formed economical product and nationwide wealth for formation and further production regarding the cash profits and savings involving the economical themes and state, rewarding of the employees and satisfaction associated with the social requests". in this elucidation of finances like D. S. Moliakov and V. E. Rodionov's definitions, adopting the traditional inheritance, we meet with the particular widening of typically the financial foundation. That they concern "distribution and redistribution of the price of created cost-effective product, also the particular partial distribution in the value of national wealth". This most recent is incredibly actual, comparatively towards the process of privatization plus the transition to privacy plus is periodically used in practice in various countries, for example of this, Great Britain plus France.

"Finances - are cash sources, financial resources, their particular creation and activity, distribution and partage, usage, also affordable relations, which will be conditioned by intercalculations between the cost-effective subjects, movement of money sources, money blood circulation and usage".
"Finances are the method of economical contact, which are associated with firm creation, supply and usage involving financial resources".

Many of us meet with absolutely innovational definitions of finances in Z. Entire body and R. Merton's basis manuals. "Finance - it will be the science about how precisely the people guide spending `the shortage cash resources in addition to incomes in typically the definite time frame. Typically the financial decisions are usually characterized by typically the expenses and profits which are 1) separated in period, and 2) while a rule, it is impossible in order to take them into mind beforehand neither simply by those who obtain decisions nor any kind of other person". "Financial theory includes quantities of the ouvrage... which learns systematically the subjects associated with distribution of the particular cash resources relatively to the period factor; it in addition considers quantitative designs, with the help of which typically the estimation, putting into practice and realization of the choice variants of each financial decisions take place".

These standard conceptions and quantitative models are utilized at every standard of getting financial judgements, but in the latest definition of finances, we meet with the following doctrine with the financial foundation: primary function of typically the finances is in the satisfaction with the people's requests; the topics of economical actions of any type (firms, also condition organs of every level) are instructed towards fulfilling this specific basic function.

Regarding the goals of the monograph, it is usually important to assess well-known definitions about finances, credit and investment, to choose how and just how much it is possible to assimilate the finances, purchases and credit directly into the one total part.

Some investigator thing that credit rating is the consisting portion of finances, when it is reviewed from the place of essence and even category. The various other, more numerous class proves, that the cost-effective category of credit exists parallel to the economical category involving finances, by which often it underlines impracticality of the credit's existence in the particular consistence of funds.

N. K. Kuchukova underlined the independence with the category regarding credit and paperwork that it is definitely only its "characteristic feature the transformed movement of the value, which is not associated with transmission with the loan opportunities together with the owners' rights".

In. D. Barkovski responds that functioning pounds created an affordable basis for apportioning finances and credit as being an independent type and gave climb to the credit plus financial relations. This individual noticed the Gnoseological roots of technology in money and credit, as the science about budget has business together with the research regarding such economical relations, which lean after cash flow plus credit.
Let's go over the most spread meanings of credit. inside the modern journals credit appeared to be able to be "luckier", next finances. For instance , all of us meet with the following definition of credit within the finance-economical book: "credit is the loan by means of money and commodity with the conditions regarding returning, usually, simply by paying percent. Credit rating represents a form of movement of the loan capital and expresses cost-effective relations between typically the creditor and borrower".

This can be the traditional definition of credit. Inside the earlier book from the economy we read: "credit is definitely the system of affordable relations, which is shaped while the transmission of cash and even material means directly into the temporal utilization, as a rule under the conditions involving returning and spending percent".
In the manual in the political economy published beneath reduction of Versus. A. Medvedev typically the following definition is given: "credit, as the economical category, expresses the created relationships between society, your time collective and personnel during formation and even usage of the bank loan funds, beneath the terms of paying provide and returning, throughout transmission of options for the material usage and accumulation".

Credit is discussed in the following strategies the previous education-methodological manuals of political economy: "credit is the approach to money relations, which can be created in the particular process of in addition to mobilization of temporarily free cash signifies of the state budget, unions, makes, organizations and inhabitants. Credit has a good objective character. It is used regarding providing widened even more production of typically the state along with other needs. Credit differs through finances from the coming back again character, while loans of manufactures and even organizations with the state is fulfilled without having this condition".

All of us meet with these definition if "the course of economy": "credit is a good economical category, which in turn represents relations, while the separate business organizations or people transmit money way to each-other for material usage under the particular conditions of coming back again. Creation of credit is conditioned by a historical process of fulfilling the economical and funds relations, the type of that is typically the money relation".

Following scientists give different definitions of credit rating:
"Credit - is a loan in the particular form of money or commodity, which is given to the particular borrower by the creditor within the situations of returning and even paying the percentage rate by the borrower".
Credit is giving the temporally free money sources or commodity since a debt regarding the defined terms by the cost of fixed percentage. Therefore, a credit is the loan as money or item. In the method of this loan's movement, a definite relations are produced between a financial institution (the loan is usually given by the juridical of physical man or woman, who gives specific cash like a debt) and the borrower.
Combining every classification named above, we come face to face with an idea, that credit is offering money capital regarding commodity as the debt, for several phrases and material dotacion under the price of firm percentage level. It expresses particular economical relations between your participants of the particular process of capital development. Need for the credit rating relations is trained, in one side, by simply gathering solid amount of temporarily free money sources, in addition to from the second side, existence involving requests of them.

Though, at the same time all of us must distinguish two resembling concepts: financial loan and credit. Mortgage is seen as:

to Here, the discussion may well touch upon indication of money and also things form a single side (loaner) to another (borrower): a)under typically the owning of the particular borrower and, in the same period, b) under typically the conditions of returning same amount or perhaps same quantity plus quality in the items;

o The loaning of money may well bear no fascination;

o Any person might take part in this.
Together with the difference together with loan, credit, which is somehow a private occasion of the loan, represents:

o One side (loaner) offers to the 2nd one (borrower) only money, and _ for temporal consumption;

o It may not really bear no interest (if the job doesn't foresee something);

o In it financial institution is not virtually any person, but a new credit organization (at the first place, banks).
Therefore, a credit is definitely the bank credit. To our brain, it is not really correct to make use of "credit" and "loan" because the synonyms.
Bank crediting is the union of relations between bank (as a creditor) and even its borrower. These types of relations touch upon:

a) Giving some funds to the borrower for definite objective (though, we discuss with the so-called no cost credits, aims plus objects of crediting are not appointed in the assignment);

b) Its opportune returning;

c) Getting percentage rate by the borrower for using the resources under his/her disposal.
The essential base of the credit rating essence and its significant element is lifestyle of trust between the two factors (in Latin "credo", from which arrives the term "credit", means that "trust").
From typically the position of flow of money varieties (in the abstraction, historical process regarding formation economical relationships and social spending budget and banking devices expressed by them) comparing different descriptions of finances plus credit, the antinomie conclusion appears: credit may be the private event of finances. Plus truly, from typically the position of movement of the money forms, finances represent the process of formation and using the funds of money means. Very generally such movements are usually fulfilled without coming back again, but sometimes, it is possible to be able to give loans through the cover the particular investment projects of other needs. In addition, when a make or corporations use their cash cash and we indicate the finances associated with industrial subject, this kind of usage could possibly be understood as inside produce or corporation (there is no subject about returning or not returning of the usage), so cuma-cuma under conditions associated with returning. This latest is named commercial contact form as a result of transmitting typically the sources to others, but even in this specific occasion, it's the element of financial system with the manufacture in addition to corporation.

From the point of cash means movement, main persona of credit is the process associated with formation and utilization of the cash of cash implies under the situations of returning plus, generally speaking, taking the particular value-percentage. If gating the credit worth doesn't occur (even in the extraordinary occasions), according to the movement contact form, credit becomes an exclusive occasion of budget, as in the total financial funds (consequently from the point out budget) the loan products which bear no more interests may get used. If gating credit value takes place, by the particular appearance form, credit rating is discussed to be able to be financial changes.

From the famous point of look at, finances (especially inside the sort of the state of hawaii budget) plus credit (beginning together with usury, later industrial and banking) have been developing differently for considering credit to be the section of finances. Though, from your genetic-historical point regarding view, previous loaners, before giving mortgage, needed gathering the particular permanent capital not returning, which is total financial foundation. Typically the banks analogously necessary concentration with the important own capital with regard to influxing the customers' means and then for receiving higher percentage charge under the situations of returning. Herewith, exactly on typically the financial basis, within the type of economic fund (which later on partially becomes loan fund) area of the standard bank capital appears to be typically the reservation (insurance) portion of the pay for, which by mother nature is financial plus not loan. Therefore notwithstanding the imperative distinctions between budget and credit type the genetic-historical point of view, credit appears to be formed from finances and symbolize their modification.

Through the essential position of expressing economical relations of funds and credit, many of us meet with primary distinctions between those two categories. Which mostly expressed by the distinction of typically the movement forms notwithstanding they are returnable or not. Costs express relations throughout the facets of distribution and redistribution of social product plus part of the national wealth. Credit score expresses distribution associated with the appropriate value only within the section of percentage presented for loan, whilst according to the loan itself, an only a temporal distribution of money sources takes place.
Herewith, there is a lot of common between the finances and credit as from typically the essential point regarding view, so according to the form of motion. As well, there will be a significant distinction between finances plus credit as in the essence, so in the form too. According to this, there must become a kind regarding generally economical class, that will consider budget and credit while a total oneness, and in the particular bounds of this particular category itself, typically the separation of the specific essence of the finances in addition to credit would take place.

Funding of the particular cash means is common for the investigated economical categories. This takes place within any separate method of finances in addition to credit, that have been carressed upon in the explanations of defining funds and credit. Term combination "funding associated with the cash sources (fund formation)" displays and defines exactly essence and form of economical category associated with more general character, those of finances in addition to credit categories. Nevertheless within the in inexpensive texts and exercise, it is quite uncomfortable in order to use a termini, which consists involving three words. Also, "unloading" with a great information hardens greatly its influxing straight into the circulation in the conditions involving its strict proof and thoroughness.
Throughout the discussing context we consider:

1) wide and narrow understanding of economical category involving the finances;

2) discussing finances in narrow understanding under basic traditional meaning;

3) discussing finances, as financing of the cash indicates, in wide knowing, which concerns funds - in limit meaning and credit score - in finish meaning.
Termini "funding" and its particular equivalent "fund formation" are used by us since the purposeful building of cash signifies, which is based about two poles - accumulation pounds sources (gathering) as well as usage for definite goal in the approach of financing and even crediting.
We certainly have founded a new termini - "finance-investment sphere" (FIS). Analyses regarding interrelation of budget and credit made by us give people a possibility of indicating, that in the given termini, the particular word "financial" is employed with the that means of funding dollars sources, its purposeful structuring. In this particular process we look at at the equal time financial, credit score and investments' inexpensive categories.

Let's quantity up middle results of discussing new principle - "finance-investment sphere" and discuss its investment consisting pieces.

The concept "investments" was brought in to the native economical science from your Western world. In the Soviet economical science these people for a very long time used in the spot "investments" the particular termini "capital placement", which expressed typically the usage of the commercial factors in typically the sphere of genuine industrial activities throughout realization of money projects. From a single glance, this termini in its principle is identical for the "investments", consequently it is possible to use them as synonyms. Though the particular termini "investments" and even "investing" have the benefits towards the termini "capital placement" coming from linguistic and philological points of look at, as they are expressed along with one word. This kind of is not only economical and secure at the same time of functioning with the termini "investment" itself, nevertheless also it gives a chance of termini formation. More concretely: "investment process", "investment domain", "finance-investment sphere" - all these types of termini are much additional acceptable.
Changing local economical termini together with foreign ones is usually purposeful, if it genuinely matters (by maintaining parallel using the native termini for the inheritance). Although we must not necessarily change native economical termini into foreign ones all together, when by ordinal traditional language quick to explain private and narrow solid processes and factors get their very own termini. The "movement" of such termini is definitely approved in the thin professional bounds, although their "spitting out" into the economical science may turn economical language directly into the tangled slang.

Let's discuss portia antonia alexis economics - "investment" and even "capital placement's" utilization in the inexpensive literature.
Investments are usually placement of funds straight into the main plus circulation capital with regard to the purpose associated with getting profit. "Investments in material possessions - will be the positionings of funds directly into the mobile and even real estate (land, buildings, furniture in addition to so on). Assets in financial assets are the positionings of funds directly into the securities lender accounts and some other financial instruments".

We all don't meet along with the termini "investments" in the prior economical dictionary, yet we meet typically the combined termini "investment policy" - typically the union with the professional decisions, which ensure main directions involving the capital opportunities, the activities regarding their concentration throughout the determinant and surrounding suburbs, on which typically the reaching of organized rates of advancement of the modern society production is relied, balancing and usefulness, getting more and even more production and revenue of the national income for just about every lost Ruble". Intended for today, within the many actual definitions, typically the capital investments happen to be bounded only by financial means, being used only financial, but in addition the investment involving natural, material-technical and informational resources takes place. Labour resources get an actual spot in the expense process. They themselves fulfill this or that expense process.

A good part of the discussed definitions is that will they connect expense policy and capital placements (investments):

- economical development in line with the major directions for the focus;

- providing high prices of economical progress;

- raising an economical usefulness, which is indicated:

a) by growing typically the throw off involving the production and national income with regard to every lost Ruble;

b) by fulfilling the branch structure from the investments;

c) by improving their technological construction;

d) by optimization with their further production composition.

Compared with this kind of meaning of the opportunities (capital placement) typically the definition of opportunities in the book attaching the "Economics" seems to be unimproved: "investments -- the expenses involving gathering production and industrial means and even increasing material reserve". In this explanation current expenses (production expenses) are mixed with the investment (capital) expense. Also, certainly not the investment expenses but (though typically the investments are followed by the appropriate expenses) exactly advancing. This differs from typically the expenses by that the means (means) are put simply by returning the superior values, also, beneath the conditions of development, to which the particular concept-advanced capital is corresponding. the evolving might be realized within the money, natural-material and informational forms.

Except the termini "investments", there are only two more termini connected with the investment. They are proven below.

"Human capital investment" - virtually any activity provided intended for rising the employees labour productivity (in the particular way of developing their qualification plus developing their abilities); with the expenses regarding improving the workers' education, health and raising the range of motion of the performing forces". It is definitely very useful to make use of the mentioned termini, though it requirements one correction: typically the human capital assets do not problem only workers, and also the servants, associates of every type of labour.
"Investment commodity, capital items - a money. "

Inside the formal manuals of political economy in the reformation time the administrative centre opportunities are discussed like "expenses for producing new main funds plus widening, reconstruction and renewing the working ones". In this particular explanation the investments (capital placements) during separation of the varieties (types) of additional production of the main funds are bounded only simply by main funds (without increases of typically the circulation funds in addition to insurance reserves):

a) creating new ones;

b) widening;

c) reconstruction;

d) reviving.

Also, the concept of the industrial gathering seems, at the expenses of widening involving basic, circulation money and in addition insurance stores takes place".

You are going to meet below the definitions of assets from "the course of economy": typically the investments are called "placements of finance into the basic capital (basic means involving production), reserves, furthermore other economical items and processes, which request long-termed influxing of material plus cash means. "According to the department of capital into physical and cash forms, the investments too has to be broken down into material in addition to cash investments".

These people apportion investment commodity, to which belong industrial and nonindustrial building objects, cars purposed for transforming or widened technical park and typically the furniture, increasing stores and others.

"They call the total investments of creation a great investment product, which is directed toward keeping and improving the basic capital (basic means) plus reserve. Total investments consist of 2 parts. One associated with them is referred to as the depreciation; it represents important expense helpful compensation associated with renewal till typically the level of prior to industrial usage, deteriorating and repairing in the basic means. Further consisting part associated with the total purchases is represented by net investments : capital investments for the purpose associated with increasing basic means". Depreciation is not a new compensation resource involving wearing the standard funds out, but it may be the purposeful financial cause of these kinds of resources.
Human capital investment is "a specific type of purchases, mostly in training and health protection".

"Real investments usually are the investments throughout the economical twigs and in addition, they are usually kinds of inexpensive activities, which supply influxing the boosts of real capital, that is improving material values associated with the industrial means". We can accept such definition together with one specification that material and nonmaterial values too belong to the real capital (wealth), consequently science-researching experimental-construction results, several information, education involving he workers plus others. Such service as organization associated with the excitable game titles, also the support of redistribution sociable wealth from one particular private person to another (except charity).

"Financial investments represent placement of cash into the gives, obligations, promissory records, other securities plus instruments. Such assets, of course , do not really give increases regarding the real substance capital, but that they help getting income, consequently at the particular expenses of fixing typically the course of the securities in the moments of speculation, or perhaps distinguishing the program in various places regarding sell and purchasing". We share entirely such definition, therefore it follows that financial investments (if it is not necessarily followed by simply real investments while a result) usually do not increase real stuff wealth and normal nonmaterial wealth. According to this context, the word below is very important: "we need to distinguish financial assets, which represent position of the finances in the ways of selling and purchasing the securities for the purpose of getting profit and financial purchases, which become money and real, moved to real physical money. "

In the particular "economical course" estimated before long and short-termed investments are separated. Recognizing the lifestyle of the court between them, the particular authors ascribe short-termed investments to "one month or more" investments. If many of us get such trained criteria, that individuals can call the investments which overcome the particular terms of many months, long-termed kinds, which is really doubtful and all of us don't agree together with it. A long-termed character with the finance placement is really a substantial feature in the opportunities (short-term doesn't mix with the strategy of investments). Principally, it would end up being preferable to point out there quick compensative, middle termed compensative plus long-termed compensative opportunities:

- less then 6 months - quick compensative;

- from six months time up to the particular year and a half instructions middle termed compensative;

- more then this season and a half - long known as compensative.

We stopped at the definition involving the purchases of the particular capital work "economical course" for the particular special purpose, since, inside it the publisher tried to discuss the concept of investments systemically in addition to quite completely, herewith the book is usually published just now.

We'll return to the topic the definition inexpensive class of "investments" found in different publications in the following phase. The definitions provided here are really enough for having a notion associated with the level regarding illuminating the presented category in typically the economical literature.
Just what conclusions can be made according the definition involving the mentioned economical category in the particular published works, except the made ideas and specifications?

Right now there is quite seriously, concretely and extensively defined the idea of "investments", different definitions in the economical books; but mostly in most works about typically the investments discussed by simply us until now, there is not really opened the substance of investments because an economical class. In every monograph, whether or not it has got a title expense, as an inexpensive category, there is usually given the particular description, concept of assets. But, as the Academician Vasil Chantladze explains, "a concept is really a discussion, which often proves something regarding the distinguishing function of the investigated object. A principle out of much imperative characteristic features signifies merely one, and necessary inside is only -- definiti
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