One of the most important factors in maintaining economic stability in the state is ensuring effective management of the financial system. Based on this thesis, it follows that financial management and financial policy are one of the functions of the state in the economic sphere.
Management in its most general form is a systematic process of the targeted influence of the subject of management (in this case, the state) on an object (financial system) in order to maintain it in the required predetermined mode of functioning or transfer to another mode of functioning. In a broader sense, the entire totality of financial relations in the state, which is determined by the political and state system, the type of economic system and the nature of the influence of state institutions themselves on the financial system, can be considered as objects of management .
As in any country, financial management in the Russian Federation involves the creation of the necessary infrastructure, the configuration and composition of which is determined by the leaders (for each of the management levels - federal, regional, corporate, etc.) of the respective management entity.
At the level of an individual enterprise, a special financial management apparatus is being created, which includes representatives of the directorate, accounting and management services. At the state level, an institute for managing the financial system is being created, which includes specialized governing bodies, norms, laws and rules for the functioning of the system, financial relations, as well as legally stipulated types and methods of management.
In accordance with international practice, financial management in the Russian Federation has two types: management of methods of direct influence on financial policy and financial relations and methods of indirect influence.
Indirect methods include:
- antitrust policy and antitrust law;
- formation of a normal competitive environment in the country's markets;
- application of methods of state regulation of business activities of state monopolists, especially in the field of pricing;
- providing guaranteed protection to business entities in the field of settlement and payment transactions;
- implementing a balanced and predictable customs policy;
- assisting the development of markets, especially financial and capital markets.
Direct financial management in the Russian Federation is carried out through:
- licensing certain types of commercial and financial activities ;
- use of resources of state monopolies ;
- conducting social policy;
- distribution of benefits and preferences between certain categories of taxpayers;
- authorization of violations in the field of financial relations.
As the main tools of state financial management are used:
- Planning - a type of activity for assessing the current state of the financial system and determining the prospects for its development.
- Control, which involves familiarizing with the results of financial activities of business entities, comparing this information with actual data and determining measures to improve the efficiency of financial activities .
- Operational management, which is carried out for the current timely impact on financial activities, and the adoption of urgent decisions to correct its functioning.
- Information support, acting as an analytical and communicative resource, with the help of which the synthesis of planning, control and organization into a single system process is carried out.
The goal pursued by financial management in the Russian Federation is, first of all, to ensure the necessary balance of interests of the state and citizens in the field of financial and economic relations, create a deficit-free state budget and maintain the stability of the country's foreign exchange market and national currency.
All these provisions form a management system, which is implemented in practice using strategic management and operational management. The first of these types consists in determining the volume of financial resources of the state and preparing long-term programs for their use. It is legally determined that strategic management is carried out by the country's parliament, the presidential administration and the ministry of finance. Operational management is carried out by specific bodies of financial infrastructure.