Notes

Fund, Credit, Investments - Economical Categories
Scientific gets results in the hypotheses of finances and credit, according to be able to the specification with the research object, are characterized to end up being many-sided and many-leveled.

The meaning of totality from the economical associations formed in typically the process of development, distribution and use of finances, as cash sources is extensively spread. For instance, in "the basic theory of finances" you can find two explanations of finances:

1) "... Finances reveal economical relations, development in the funds of money sources, inside the process of distribution and répartition of national statements in line with the distribution and usage". This description is given relatively in order to the conditions regarding Capitalism, when cash-commodity relations gain common character;

2) "Finances represent the organization regarding centralized ad decentralized money sources, inexpensive relations relatively using the distribution and even usage, which serve for fulfillment in the state functions and even obligations and also provision of typically the conditions from the widened further production". This specific definition is produced without showing the particular environment of it is action. We share partly such explanation of finances in addition to think expedient to make some requirements.

First, finances overcome the bounds regarding distribution and partage service of the countrywide income, though this is a simple foundation of finances. Likewise, formation and utilization of the depreciation fund which can be the particular part of economic domain, belongs not to the distribution and redistribution involving the national earnings (of newly produced value during some sort of year), but for typically the distribution of currently developed value.

This specific latest first appears to be some sort of part of value of main industrial money, later it will be moved to the cost price of a ready product (that would be to the value too) along with its realization, plus its set typically the depression fund. Its source is used into account in advance as a depression kind in typically the consistence from the prepared products price range.

2nd, main goal regarding finances is very much wider then "fulfillment in the state functions and obligations and provision of circumstances to the widened additional production". Finances exist on the state level as well as on the manufactures and branches' level too, in addition to in such problems, when the just about all section of the manufactures happen to be not state.

Sixth is v. M. Rodionova has a different location about this subject: "real formation involving the financial resources commences on the phase of distribution, if the value is noticed and concrete economical forms of the realized value are separated from the particular consistence from the profit". V. M. Rodionova makes an emphasis of finances, since distributing relations, any time D. S. Moliakov underlines industrial basis of finances. Although both of these people give quite establish discussion of funds, as a method of formation, distribution and using the particular funds involving resources, that happens regarding the following definition of the finances: "financial cash relations, which forms in the particular process of distribution and redistribution of the partial value of the national prosperity and total sociable product, is related to the subjects of the economy and formation and consumption of the point out cash incomes and even savings in the particular widened further creation, in the materials stimulation of the workers for satisfaction in the society social as well as other requests".

In the manuals associated with the political economic system we meet using the next definitions involving finances:
"Finances associated with the socialistic condition represent economical (cash) relations, with the help of which in turn, in the method of planned submission of the incomes and savings typically the funds of funds causes of the point out and socialistic makes are formed for guaranteeing the growth associated with the production, growing the material in addition to cultural level of the people as well as for satisfying other general society requests".
"The system of design and usage involving necessary funds regarding cash resources with regard to guarantying socialistic increased further production signify precisely the finances regarding the socialistic modern society. And the wholeness of economical contact arisen between condition, manufactures and organizations, branches, regions and separate citizen based on the movement of dollars funds make economic relations".
As we now have seen, definitions regarding finances made simply by financiers and politics economists do not vary greatly.
In every mentioned position there are:

1) expression of fact and phenomenon in the definition regarding finances;

2) the definition of money, as the system of the creation in addition to usage of cash of cash sources on the level of phenomenon.

3) Distribution of finances because social product along with the value of national income, definition involving the distributions planned character, main targets of the economic climate and economical relations, for servicing that it is used.

If refuse the particular preposition "socialistic" inside the meaning of money, we may point out, that it nonetheless keeps actuality. We all talk with such traditional definitions of budget, with no adjective "socialistic", in the modern economical literary works. We might give like an elucidation: "finances represent cash sources of production and even usage, also cash relations appeared inside the process involving distributing values involving formed economical item and national riches for formation and even further production regarding the cash earnings and savings in the economical subjects in addition to state, rewarding in the workers and satisfaction of the cultural requests". in this specific elucidation of money like D. S i9000. Moliakov and Sixth v. M. Rodionov's meanings, following the standard inheritance, we meet with the widening in the financial foundation. That they concern "distribution and redistribution of typically the value of created affordable product, also the partial distribution regarding the value of nationwide wealth". This latest is very genuine, relatively to typically the procedure for privatization in addition to the transition to privacy which is regularly used in practice in different nations, for example , Great The united kingdom and France.

"Finances - are dollars sources, money, their very own creation and activity, distribution and redistribution, usage, also affordable relations, that happen to be conditioned by intercalculations between the economical subjects, movement of cash sources, money blood flow and usage".
"Finances are the system regarding economical relations, which usually are connected together with firm creation, distribution and usage associated with financial resources".

Many of us meet with completely innovational definitions involving finances in Unces. Body and L. Merton's basis instructions. "Finance - it does not take science about precisely how people lead investing `the deficit funds resources and earnings within the definite period of time of time. Typically the financial decisions will be characterized by the particular expenses and earnings that are 1) segregated in time, and 2) as a rule, it is certainly impossible to consider them into account beforehand neither by people who get decisions neither any other person". "Financial theory is made up of numbers of the conceptions... which learns systematically those men associated with distribution in the money resources relatively in order to the time factor; it also considers quantitative models, along with the help involving which the estimation, putting into practice in addition to realization of the alternative variants regarding every financial judgements take place".

These basic conceptions plus quantitative models are widely-used at every levels of getting economic decisions, but in the latest definition of finances, we meet with the subsequent cortège of the economical foundation: main function of the budget is in the satisfaction associated with the people's requests; the subjects associated with economical activities involving any kind (firms, also state bodily organs of each and every level) are directed towards rewarding this basic function.

For the goals regarding our monograph, that is important to be able to compare well-known meanings about finances, credit rating and investment, to be able to decide how and how much it is possible to integrate the finances, investments and credit in the one total component.

Some researcher point that credit may be the consisting part regarding finances, if it is discussed through the position of substance and category. Another, more numerous team proves, that a good economical category associated with credit exists parallel to the affordable category of budget, in which it underlines impossibility of typically the credit's existence inside the consistence associated with finances.

N. K. Kuchukova underlined the independence of typically the group of credit plus notes that it is only it is "characteristic feature the particular turned movement in the value, which is not related with transmitting of the personal loan opportunities together with the owners' rights".

N. D. Barkovski replies that operating of money produced an economical base for apportioning financial situation and credit since an independent class and gave increase to the credit score and financial relationships. He noticed the Gnoseological roots of science in cash and credit, as being the science about costs has business with the research of like economical relations, which in turn lean upon earnings and credit.
Why don't discuss the most spread definitions associated with credit. in the particular modern publications credit rating appeared to always be "luckier", then finances. For example, we all meet with the particular following associated with credit in the finance-economical dictionary: "credit could be the loan in typically the form of money and commodity with all the conditions of going back, usually, by paying out percent. Credit represents a form involving movement from the mortgage capital and presents economical relations between the creditor plus borrower".

This is the traditional description of credit. In the last dictionary of typically the economy we examine: "credit is the particular system of cost-effective relations, which is formed while the transmission of money and even material means directly into the temporal use, as a principle under the situations of returning and even paying percent".
In the manual of the particular political economy posted under reduction of V. A. Medvedev the next definition is given: "credit, because an economical category, expresses the made relations between the particular society, labour communautaire and workers throughout formation and consumption of the money money, under the phrases of paying provide and returning, in the course of transmission of resources for the temporary usage and accumulation".

Credit is talked about within the following method in the earlier education-methodological manuals of politics economy: "credit is usually the system regarding money relations, which often is created in the process associated with using and mobilization of temporarily free of charge cash method of the particular state budget, assemblage, manufactures, organizations and population. Credit has a objective character. Its used for supplying widened further production with the state plus other needs. Credit rating differs from finances by the returning character, while auto financing of manufactures and organizations by typically the state is achieved without this condition".

We meet using the following classification if "the span of economy": "credit is definitely an economical category, which represents relations, even though the separate industrial agencies or persons broadcast money means in order to each-other for material usage under typically the conditions of going back. Creation of credit rating is conditioned simply by a historical means of fulfilling the affordable and money contact, the form associated with which is the bucks relation".

Following experts give slightly various definitions of credit score:
"Credit - will be a loan throughout the form of money or asset, which is given to the borrower by a creditor under the particular conditions of going back and paying typically the percentage rate by the borrower".
Credit rating is giving typically the temporally free cash sources or product as a financial debt for that defined words from the price of fixed percentage. Therefore, a credit may be the loan in the particular form of funds or commodity. Along the way of this loan's movement, a certain relations are created between a financial institution (the loan is given by a new juridical of actual person, who gives certain cash while a debt) and even the debtor.
Incorporating every definition called above, we are available to a thought, that credit is offering money capital associated with commodity like a debt, for certain phrases and material provision under the price of firm portion rate. It presents definite economical relationships between the participants of the process of capital formation. Necessity of the particular credit relations is usually conditioned, from 1 side, by collecting solid quantity associated with temporarily free cash sources, and by the second part, existence of demands of them.

Though, at the same time we need to distinguish two resembling concepts: loan and even credit. Loan is usually characterized by:

o Here, the dialogue may touch after transmission of cash and also things form one side (loaner) to one other (borrower): a)under the particular owning of typically the borrower and, at the same moment, b) beneath the problems of returning same exact amount or equivalent quantity and high quality of the things;

o The loaning of money may bear no fascination;

o Any particular person may take component in it.
With the difference along with loan, credit, which often is somehow a private occasion of the loan, represents:

um One side (loaner) gives to the particular second one (borrower) only money, and even _ for temporary usage;

o It may not bear no interest (if the assignment does not foresee something);

o Inside creditor is usually not any man or woman, but a credit organization (at primaly, banks).
So, a new credit is typically the bank credit. To our mind, it is not appropriate to use "credit" and even "loan" as the synonyms.
Banking crediting is the association of relations in between bank (as a new creditor) and it is borrower. These contact touch upon:

a) Giving a certain quantity of money towards the borrower for definite purpose (though, many of us meet with typically the so-called free credit, aims and objects of crediting are not appointed in the assignment);

b) Its opportune going back;

c) Getting percent rate from typically the borrower for applying the sources below his/her disposal.
The particular essential foundation involving the credit substance and its particular important component is existence involving trust between the particular two sides (in Latin "credo", from which comes the term "credit", means "trust").
From the position of circulation involving money forms (in the abstraction, historical process of development economical relations plus social budget and banking systems portrayed by them) contrasting different definitions associated with finances and credit, the paradox bottom line appears: credit may be the private occasion of finances. And really, from the place of movement of typically the money forms, funds represent the process of formation and using the funds of cash implies. Very often this kind of movements are happy without returning, but sometimes, it is certainly possible to give loans from the plan for the investment projects of additional needs. Also, if a manufacture or corporations use their particular cash funds in addition to we mean the particular finances of commercial subject, such usage may be realized since in the manufacture or even corporation (there is usually no subject concerning returning or not coming back again of the usage), so gratis beneath conditions of coming back again. This latest is known as commercial form because of transmitting the resources to others, nevertheless in this occasion, it's the element involving financial system of the manufacture and corporation.

From the point of cash means activity, main character associated with credit is typically the process of formation and usage involving the funds involving cash means below the conditions associated with returning and, usually, taking the value-percentage. If gating the particular credit value won't happen (even inside the exceptional occasions), according to the movement form, credit score becomes a private celebration of finances, as in the net economical funds (consequently coming from the state budget) the loans which in turn bear no pursuits may be applied. If gating credit value takes location, by the physical appearance form, credit will be discussed to become financial modification.

Through the historical point of view, financial situation (especially in the particular sort of the state of hawaii budget) and credit rating (beginning with usury, later commercial and banking) were creating differently for thinking of credit to become the section of budget. Though, from your genetic-historical point of look at, previous loaners, ahead of giving loan, needed gathering the everlasting capital not coming back again, this provides the net financial foundation. The financial institutions analogously needed attentiveness in the important own capital for influxing the consumers' signifies as well as for getting increased percentage rate below the conditions of returning. Herewith, exactly on the financial basis, in the kind of financial pay for (which later somewhat becomes loan fund) section of the bank funds appears to be the reservation (insurance) part involving the fund, which usually by nature is financial and certainly not loan. So in spite of the essential distinctions between finances in addition to credit form the genetic-historical point regarding view, credit definitely seems to be formed from finances and represent their modification.

From the particular essential position associated with expressing economical associations of finances and credit, we satisfy with cardinal differences between both of these categories. Which mostly indicated by the difference of the movement forms notwithstanding these people are returnable or perhaps not. Finances express relations in the areas of distribution and even redistribution of sociable product and part of the country wide wealth. Credit expresses distribution of the appropriate value only in the section associated with percentage given for loan, while based to the bank loan itself, an simply a temporal submission of money extracts takes place.
Herewith, there exists a lot involving common between your funds and credit since from the fundamental point of view, so in line with the type of movement. Simultaneously, there is a new significant distinction between finances and credit as in the utilization, so in the particular form too. In accordance to this, there must be some sort of kind of typically economical category, which will consider finances in addition to credit as some sort of total unity, plus in the bounds of this group itself, the splitting up of the specific essence of the particular finances and credit score would come about.

Money of the funds means is frequent for the researched inexpensive categories. It needs place in any kind of separate system regarding finances and credit, which have been touched on in the analyses involving defining finances in addition to credit. Word blend "funding of the particular cash sources (fund formation)" reflects plus defines exactly importance and sort of economical category of even more general character, the ones from finances and credit rating categories. Though within the in economical texts and practice, it is extremely uncomfortable to use a termini, which usually consists of a few words. Also, "unloading" with an info hardens greatly it is influxing into the particular circulation in the particular conditions of the strict substantiation in addition to thoroughness.
In typically the discussing context many of us consider:

1) extensive and narrow understanding of economical class of the finances;

2) discussing finances on narrow understanding according to general traditional that means;

3) discussing financial situation, as funding from the cash means, in wide understanding, which often concerns finances instructions in narrow meaning and credit : in complete which means.
Termini "funding" as well as equivalent "fund formation" are used simply by us as the purposeful structuring regarding cash means, that is based on a couple of poles - deposition of money sources (gathering) as well as its usage for definite purpose in the way involving financing and crediting.
We certainly have established some sort of new termini instructions "finance-investment sphere" (FIS). Analyses about interrelation of finances and even credit made by people give us a chance of proving, that will in the particular termini, the word "financial" is employed with the meaning regarding funding cash resources, its purposeful structuring. In this method we consider at the same period financial, credit in addition to investments' economical classes.

Let's sum upward middle results of talking about new concept -- "finance-investment sphere" plus discuss its expense consisting parts.

The concept "investments" seemed to be brought into the particular native economical scientific research from the West. Within the Soviet inexpensive science they intended for a long time period used in the place "investments" the termini "capital placement", which usually expressed the use of the commercial components in the ballpark of real commercial activities during realization of capital projects. From one peek, this termini throughout its concept is definitely identical to the "investments", consequently it is possible to work with them as word alternatives. Though the termini "investments" and "investing" have the advantage to the termini "capital placement" from linguistic and philological items of view, as they are expressed with one word. This will be not only inexpensive and comfortable at the same time of working together with the termini "investment" itself, but in addition it gives a possibility of termini formation. More concretely: "investment process", "investment domain", "finance-investment sphere" instructions all these termini are more satisfactory.
Changing native inexpensive termini with foreign ones is purposeful, if it really matters (by keeping seite an seite use of the local termini for the particular inheritance). Though all of us must not transform native economical termini into foreign types all together, if by ordinal standard language easy to be able to explain private in addition to narrow concrete procedures and elements get their own termini. The "movement" of those termini is approved in the narrow professional bounds, but their very own "spitting out" into the economical research may turn economical language into the tangled slang.

Let's discuss termini : "investment" and "capital placement's" usage in the economical literary works.
Investments are keeping of funds into the main and circulation capital for the purpose of buying profit. "Investments inside material assets instructions are definitely the placements regarding funds into typically the mobile and normal estate (land, properties, furniture and so on). Investments on financial assets are the placements associated with funds into typically the securities bank balances and other economic instruments".

We no longer meet with the termini "investments" in the earlier economical dictionary, but we meet the combined termini "investment policy" - the marriage in the industrial selections, which guarantee major directions of the particular capital investments, the particular activities of their particular concentration in the particular determinant suburbs, about which the achieving of planned costs of development associated with the society generation is depended, handling and effectiveness, getting more and even more production and profit involving the national earnings for every shed Ruble". For nowadays, within the most real definitions, the funds investments are bounded only by economical means, being used just financial, but also typically the investment of herbal, material-technical and informational resources takes place. Time resources take a great actual place within the investment process. They themselves accomplish this or that investment process.

A confident side regarding the discussed meanings is that they connect investment coverage and capital positionings (investments):

- cost-effective development according to the key instructions to the attentiveness;

- providing great rates of affordable growth;


- bringing up an economical effectiveness, which usually is expressed:

a) by growing the particular throw off with the production and domestic income for each lost Ruble;

b) by fulfilling typically the branch structure involving the investments;

c) by improving their very own technological structure;

d) by optimization regarding their further creation structure.

Compared using such definition of the investments (capital placement) the definition regarding investments in typically the dictionary attaching typically the "Economics" seems in order to be unimproved: "investments - the expenses of gathering production and industrial indicates and increasing materials reserve". Within this description current expenses (production expenses) are combined with the investment (capital) expense. In addition, not the expense expenses but (though the investments happen to be followed by typically the appropriate expenses) exactly advancing. It varies from the expenditures by that the means (means) happen to be put by coming back the advanced values, also, under the conditions of development, to which the concept-advanced capital is certainly corresponding. the improving may be realized within the money, natural-material and informational varieties.

Except the termini "investments", there usually are two more termini related with the particular investment. They are usually shown below.

"Human capital investment" : any activity presented for rising the particular workers labour productivity (in the way of growing their own qualification and creating their abilities); from the expenses of improving the workers' education, health in addition to raising the freedom of the working forces". It is rather useful to use the mentioned termini, though it needs one correction: the human capital investments do not concern only staff, but also the servants, representatives regarding every type of labour.
"Investment commodity, funds goods - a new capital. "

Inside the official guides of political economic climate of the reformation time the funds investments are mentioned as "expenses intended for creating new major funds and widening, reconstruction and renewing the active ones". In https://barkersurveyingltd.co.uk/best-home-buyer-surveys-merseyside/ (capital placements) during parting from the forms (types) of further manufacturing with the main cash are bounded just by main finances (without increases regarding the circulation money and insurance reserves):

a) creating fresh ones;

b) widening;

c) reconstruction;

d) renewing.

Also, typically the concept of the industrial gathering looks, at the expenditures of widening associated with basic, circulation finances and also insurance reserves takes place".

You'll meet below the definitions associated with investments from "the course of economy": the investments are called "placements of finance into the standard capital (basic implies of production), supplies, also other affordable objects and processes, which request long-termed influxing of fabric and cash means. "According to the label of capital into physical and money types, the investments as well must be separated into material and even cash investments".

They apportion investment product, to which fit industrial and nonindustrial building objects, automobiles purposed for varying or widened technological park and typically the furniture, increasing reserves while others.

"They contact the whole investments associated with production an investment product, that is directed towards keeping in addition to increasing the standard money (basic means) in addition to reserve. Total assets consist of 2 parts. One associated with them is called the particular depreciation; it symbolizes important investment resources for compensation involving renewal till the amount of before industrial usage, wearing out and even repairing of the basic means. Second consisting section of the total investments is displayed by net assets - capital purchases for the purpose of increasing standard means". Depreciation is not a payment resource of putting on the fundamental funds out, nonetheless it is the purposeful financial source involving such resources.
Individual capital investment is "a specific kind of investments, typically in education plus health protection".

"Real investments are the particular purchases of the affordable branches and furthermore, they are sorts of economical activities, which provide influxing the particular increases of genuine capital, that will be increasing material principles from the industrial means". We are able to agree along with such definition together with one specification that will material and nonmaterial values too fit to the real capital (wealth), as a result science-researching experimental-construction benefits, various information, education and learning of he personnel as well as others. Such assistance as organization regarding the excitable game titles, also the service of redistribution social wealth from personal person to a new (except charity).

"Financial purchases represent keeping of funds into the gives, obligations, promissory paperwork, other securities and even instruments. Such assets, of course, conduct not give boosts of the actual material capital, nonetheless they help getting revenue, consequently at the particular expenses of altering the course of the particular securities within the time of speculation, or perhaps distinguishing the course in different areas of sell and even purchasing". We talk about wholly such explanation, hence it uses that financial purchases (if it is usually not followed by real investments while a result) do not increase real material wealth plus real nonmaterial riches. According to this kind of context, the expression below is essential: "we must distinguish financial investments, which stand for placement of the funds in typically the means of selling and purchasing the stock options for the purpose of getting profit and financial investments, which become dollars and real, moved to real actual capital. "

Inside the "economical course" quoted before long and even short-termed investments will be separated. Recognizing the particular existence of the particular bounds between all of them, the authors assign, short-termed investments in order to "one month or more" investments. If we get this kind of conditioned criteria, that we can contact the investments which overcome the phrases of some months, long-termed ones, that is very doubtful and don't agree using it. A long-termed character of the particular fund placement is usually a significant characteristic of the assets (short-term doesn't blend with the idea of investments). Principally, it could be much better to point away quick compensative, middle termed compensative and even long-termed compensative assets:

- less then 6 months instructions quick compensative;

- from 6 months to the year plus a half : middle termed compensative;

- more then the year and the half - extended termed compensative.

Many of us stopped on the explanation of the purchases of the capital work "economical course" with regard to the special objective, as, inside it typically the author tried to be able to discuss the idea of investments systemically and quite completely, herewith the publication is published just now.

We'll return to be able to the topic the definition economical group of "investments" in different magazines in the next chapter. The explanations given here will be quite enough for having a belief of the stage of illuminating typically the given category found in the economical materials.
What conclusions may be made according the meaning of the described economical category found in the published works, except the made notions and technical specs?

There is very deeply, concretely plus thoroughly defined the concept of "investments", different definitions in the inexpensive literature; but typically in most works about the investments reviewed by us right up until now, there will be not opened the particular essence of opportunities as an inexpensive category. In just about every monograph, even if it has a name investment, as the economical category, generally there is given the particular definition, concept of investments. But, seeing that the Academician Vasil Chantladze explains, "a concept is actually a dialogue, which proves some thing about the differentiating feature of typically the researched object. A concept away from much essential characteristic features represents just one, and essential in it is simply - definition".

Although the categories are much wider; it will be "a key, typically the most fundamental principle of every science". Economical categories theoretically represent real, objectively existed productive contact. A category is the defining of situations of existed characters, connections, relations from the objective world. Typically, any educational method is fulfilled by categories, which give opportunities for separating the processes and even occasions semantically, regarding expressing the definitions of the subject in addition to realize their particular peculiarities and economical relations of a new material world.
Each of our goal is exactly to be able to substantiate investments instructions as an affordable category and furthermore, being a financial category within the narrow comprehending.

Here we apply for another handbook thesis made by the particular academician Vasil Chantladze: "every financial connection is an cost-effective one and every financial category is definitely and economical one, however, not every cost-effective relation and inexpensive category is economic relation and economical category".
In the process of determining the investments, it is very important take in thoughts the sides of assets, expenses and earnings, because investment, coming from one side, is the result associated with the manufacture's action, and, from one more one, - some sort of part of revenue, which, in this case, is not really utilized for usage.
Another occasion: it will be advisable to go over investments in two features: like a category regarding reserve and flow, which will indicate exactly the network between "placement regarding funds" and "investments".

As we've mentioned above, not long ago, on the well-known Soviet literature the concepts of "the placement of funds" and "investments" were accepted as the synonyms and involved being investment involving sources for further production from the major funds and creation of the turnover funds. We discuss with such understanding regarding the idea of "investment" (here, they separate about three forms of the investment expenses: investments inside of the basic money of investments, purchases of the house building and investments throughout the reserves) on the modern cost-effective publications and this is mostly employed within the macro levels throughout a statistical evaluate of economical techniques. In this particular concrete occasion investment is the category of book.

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