The paper reveals the essence of the system of public financial management (PFM), defines its key elements of PFM system and articulates goals and objectives. The author's definition of PFM is given. A comparative analysis of managerial financial cycles in the public and private sectors of the economy is carried out. The historical aspect of the PFM reforms is also analyzed, and various approaches to financial management (income and expenditure) in the public sector are studied. Factors influencing the effectiveness of the PFM reforms are revealed. The challenges faced by financial managers in implementing public finance reforms are analyzed, and the opportunities that can be used to achieve the objectives of the PFM system, some of which are simultaneously challenges (Blockchain and open government data (OGD)), are analyzed. (JEL H5, H50)
В статье обоснована актуальность оценки качества управления государственными финансами с целью повышения эффективности их использования. Проанализировано развитие методики оценки качества финансового менеджмента главными администраторами средств федерального бюджета за период с 2008 по 2019 гг. Исследованы методические аспекты определения итоговой оценки качества финансового менеджмента. В частности, проанализирован расчет некоторых показателей операционной эффективности расходов бюджета и дана их интерпретация. Представлен авторский взгляд на расчет и интерпретацию проанализированных показателей. The author in this article substantiates the relevance of assessing the quality of public financial management in order to increase the efficiency of use of public finance. The development of the methodology for assessing the quality of financial management by the chief administrators of the federal budget for the period from 2008 to 2019 is analyzed. Methodological aspects of determining the final assessment of the quality of financial management are investigated. In particular, it analyzes the calculation of some indicators of the operational efficiency of budget expenditures and gives their interpretation. The author's view on the calculation and interpretation of the analyzed indicators is presented.
The chapter justifies the increased interest in public sector financial management (PFM) through its scaling up in the economy. The paper reveals the essence of the PFM system, through an analysis of the definitions of the PFM, the role of the public sector in the economy, the key elements of the PFM system, and a comparative analysis of financial management systems in the public and the private sectors of the economy. The problematic issues of the functioning of the PFM system, which include the issues of assessing the quality of the PFM, are analyzed. The quality of the PFM is understood as its effectiveness, efficiency, and achievement of the goals of the PFM, the main of which is the growth of the well-being of society. The statement proved that the amount of public spending is not evidence of the effectiveness of the PFM system. The factors influencing the efficiency of the PFM system functioning are revealed. The importance of financial information formed in the system of state accounting on an accrual basis on the basis of IPSAS for making government decisions is revealed. An alternative point of view on the formation of financial information is given.
The paper considers the modern methods for detecting financial statement errors and fraud with respect to their application to Russian corporate companies. The study methods evaluating the financial statements of companies allow getting a comprehensive and quick assessment of the financial condition of the company based on open sources. An assessment of the financial statements of enterprises according to the Roxas model showed that the composite index of the model is applicable to Russian companies.
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