Scientific Journal of KubSAU

Polythematic online scientific journal
of Kuban State Agrarian University
ISSN 1990-4665
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452 kb

THE INFLUENCE OF THE MONETARY AND CREDIT POLICY OF THE FEDERAL RESERVE SYSTEM ON INTERNATIONAL FINANCIAL MARKETS

abstract 1291705068 issue 129 pp. 944 – 958 31.05.2017 ru 409
In the article the bank regulator of the country - the Federal Reserve System (FRS) is considered. The influence of monetary policy of FRS on the international financial markets, including the stock, currency and commodity markets is estimated. For the analysis of data, the statistics indicators characterizing dynamics of driving of major financial instruments and the markets since 2007 and finishing with the beginning of 2017 are used. As comparison, the analysis of dynamics of interest rates of the Federal Reserve of the USA and the S&P500 market index was used. The Influence of FRS on the American and German bonds is defined. On this basis, the conclusion is drawn that securities have high correlation, but the other Central banks take part in it. The forward reaction of monetary policy of the other bank regulators on decisions of FRS after crisis of 2008-2009 was revealed. The research of the influence of monetary policy of FRS on the market of petroleum crude, which suffered, first of all, because of the increase in interest rates of the bank regulator of the USA is conducted. The authors of the article have studied the reason of this process caused by interrelation of the commodity markets and monetary policy of FRS. In conclusion, key trends of the world financial platforms because of change of monetary policy of FRS and possible consequences for actual and financial sectors of the world economy were allocated
145 kb

ASSESSMENT OF REVENUE AS A COMPONENT OF ACCOUNTING FINANCIAL STATEMENTS IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS

abstract 1291705069 issue 129 pp. 959 – 971 31.05.2017 ru 342
Despite a voluntary nature of creation of the financial reporting by the Russian organizations according to international accounting standards, the Federal law No. 208-FZ "About consolidated financial statements" which establishes general requirements to creation, representation and disclosure of consolidated financial statements by the legal entity created in accordance with the legislation of the Russian Federation was issued on July 27, 2010. The law carries to a number of such organizations: 1) credit institutions; 2) insurance companies (except for the medical insurance companies performing activities only in the sphere of compulsory medical insurance); 3) non-state pension funds; 4) managing companies of investment funds, mutual investment funds and non-state pension funds; 5) clearing organizations; 6) the federal state unitary enterprises which list affirms the Government of the Russian Federation. Thus, the Russian organizations constituting the consolidated statements have to do it strictly according to IFRS, starting with the reporting of 2012. Preparation of the reporting under IFRS in the companies requires fixed tracking of innovations in standards, permissions of matters of argument and treatments by separate provisions, increase in speed of data collection and processing for improvement of quality of the reporting and terms of its closing. For this reason, there is a need for involvement of specialists in creation of the Russian reporting according to IFRS. This profession is demanded first of all in the foreign organizations whose Russian divisions are obliged to report on a regular basis to head offices. However, recently in Russian companies which are trying to come to foreign markets or interested in foreign investments these specialists are also required
349 kb

IMPROVING THE EFFICIENCY OF MANAGEMENT OF INNOVATIVE ACTIVITY OF ENTERPRISES

abstract 1291705070 issue 129 pp. 972 – 989 31.05.2017 ru 641
Methods and models for assessing the effectiveness of management of innovative activities of enterprises allow to calculate its indicators for each individual innovation project that can potentially be included in the developed version of the plan, and for a version of the plan (program) of innovation development in general. In the existing practice, this problem is usually solved means of an assessment of the socioeconomic efficiency of their implementation. The objects of this assessment are commercial and budgetary efficiency. The output data of the specified process is: the payback period of investments (the period of their return) and the profitability index (return on investment) - when calculating commercial efficiency; the net discounted income of the state (budgetary effect), the profitability index and the period of return of budget funds - when determining budgetary efficiency. Within existing practice of assessing the effectiveness of the implementation of innovative plans and programs, enterprises usually only determine the financial results of the implementation, without linking them with the planned specific results of scientific and innovation activities. This practice is a consequence of the long dominance of the so-called "monetary" approach to solving this problem. Of course, it is important for the enterprise to reduce the costs of implementing the innovation project, and to increase the return on assets. However, it is also important for the enterprise to ensure that its innovative activity provides the maximum saving of not only production resources, but also labor resources (labor productivity) and material resources (material-output). It allows the enterprise to increase the efficiency of its innovation activities and ensure the achievement of the planned target indicators and indicators of its development program. In order to solve this problem, the main elements of innovative activities of enterprises and the trends of their development in modern conditions are identified in the article. A systematic analysis of this activity is carried out. The organizationaleconomic mechanism of innovative activity of enterprises is formalized, structured and investigated. The theoretical bases of the organizational and economic mechanism of innovative planning are considered. The economic-mathematical tools for adjusting short-term plans and a long-term program for the innovative development of enterprises are proposed
554 kb

RISKS AND PRIORITIES OF THE STRATEGY OF DEVELOPMENT OF THE NATIONAL SPACE-ROCKET INDUSTRY

abstract 1291705075 issue 129 pp. 1046 – 1060 31.05.2017 ru 603
Based on risk analysis and consequences of the accidents which have happened to the space equipment from the moment of the beginning of an active phase of space activity, the authors have come to a conclusion that initial stages of life cycle of the project, namely start and a conclusion to an orbit of artificial Earth satellites are subject to the greatest risks. Further functioning of the spacecraft in an orbit is accompanied by much smaller risks, and the least risky are works on service of land infrastructure, processing and information transfer to consumers. Methods of economic protection, which provide acceptance or transfer for a certain payment of risks are not always acceptable for an initial stage of the space project – start and removal into a satellite orbit. Authors suggest evading whenever possible from similar risks for what it is necessary to reduce starts for the benefit of foreign customers. The research of structure of the world space market has shown that such kinds of activity as production of land space infrastructure and rendering services of satellite communication and broadcasting are the most demanded. The market of starting services is gradually reduced in connection with miniaturization of the equipment of satellites and high specific risks of start. The policy of Roskosmos is focused generally on preservation of leadership in starting services which differ in high risks, to the detriment of creation of own satellite group capable to render a wide range of space services to foreign partners. Change of reference points of the strategy of development of the domestic spacerocket industry towards highly profitable and least risky types of space activity is offered
397 kb

DEVELOPMENT OF A DECISION SUPPORT SYSTEM FOR SUSTAINABILITY ASSESSING OF A COMPANY

abstract 1291705078 issue 129 pp. 1079 – 1099 31.05.2017 ru 413
Sustainability of enterprises plays an important role in the economic and social life of all industrially developed countries. Despite numerous publications devoted to the analysis of the sustainability of organizations, there are still ambiguous approaches to the methods of analysis for different authors. In addition, for companies of different industries, forms of ownership, geographically located in different regions of the border, the methods and indicators for assessing sustainability can vary considerably. In this connection, there is a need to develop a decision support system that would allow the most efficient assessment of the sustainability of the largest possible range of enterprises, with the possibility of adjusting and flexibly tuning as many parameters as possible. The article describes the architecture and algorithm of the DSS, which implements the following model of initial data generation in its functional; Model of formation of a tree-like structure of groups of indicators on the basis of which the stability is assessed; Model for specifying the fuzzy sets belonging to the recommended values of the indicators; Model for calculating the values of groups of indicators and their fuzzy estimates; The model of graphical interpretation of the organization's sustainability assessment. The developed system was tested on the basis of the company called Antey LLC
321 kb

EXCHANGE RATE MANAGEMENT SYSTEM AS A METHOD OF STIMULATION OF THE EURASIAN INTEGRATION

abstract 1291705079 issue 129 pp. 1100 – 1112 31.05.2017 ru 255
The article describes a system for managing the dynamics of national currencies exchange rates of the countries of the Eurasian Economic Union (EEU) in relation to the collective currency. The purpose of this method is achievement of equilibrium values of exchange rates and improvement of the state of trade balances of the countries of the EEU. The authors conclude that the application of the proposed system will lead to an increase in the interdependence of the dynamics of the exchange rates of the countries of the EEU. This will ensure preparation for further deepening of the intra-union integration
180 kb

PRIORITY DIRECTIONS OF INCREASE OF THE EFFICIENCY OF INVESTMENT ACTIVITY OF HEALTH CARE INSTITUTIONS

abstract 1291705084 issue 129 pp. 1158 – 1171 31.05.2017 ru 541
This article aims to review priority directions of increasing the efficiency of investment activity of health care institutions. As health plays an important role in the economy of any country, it is necessary to improve its efficiency by investing in its development. Additional funding, investment in health will significantly change the quality of provision of medical organizations, to develop new programmes, able to solve various problems existing in the health care industry of the Russian Federation. The priority direction to improve the efficiency of investment activities of MBHI CCCH No. 1 is opening within the healthcare facilities pharmacies called "Land of pills". This article describes technical, economic and financial feasibility study of business plan to open this pharmacy
475 kb

METHODS OF DIAGNOSTICS OF EXTERNAL ENVIRONMENT OF THE REGION AND CORPORATIONS IN STRATEGIC MANAGEMENT

abstract 1291705086 issue 129 pp. 1183 – 1212 31.05.2017 ru 1084
Requirements to instruments of diagnostics of external and internal environments of the organization are developed and proved in this article; comparative analysis of requirements is carried out, incompleteness of the analysis and its insufficient reliability are present, the problem of need of improvement of instruments of diagnostics is investigated, interaction model "the organization – the external environment" with emphasis on structurization of factors meso environment and on the integrated model of process of strategic management is offered, implementation of the procedure of expert poll in combination with estimates during the NDPESTEL –, SNW - SWOT – and VRIO analysis, and also development of the automation equipment which are used in the interactive mode are offered
130 kb

INDUSTRIAL CONSTRUCTION OF TATARSTAN: MAIN TRENDS

abstract 1291705088 issue 129 pp. 1224 – 1234 31.05.2017 ru 472
The article describes the main trends in industrial construction in the Republic of Tatarstan, as well as analyzed the costs of the Republic, its major projects for industrial construction. The result of construction, as a type of production activity, is construction products - finished or prepared for operation buildings or structures for production or non-production purposes. The construction ensures the creation of fixed assets and production capacities of the economy. And the result of investments in fixed capital is the construction of new facilities and upgrading of equipment, purchase of necessary vehicles and tools, i.e. investment in different sectors of the economy that will facilitate the acquisition, establishment, expansion of fixed assets of enterprises, and thus contribute to the development of economic entities and economy as a whole. The Republic takes leading positions in the ranking, not only in terms of housing, but also for industrial construction. The shortage of capital in the field of investment and construction activity and the weak development of the construction industry will not be able to implement large industrial and infrastructure projects. The article describes the main steps of the Republic, aimed at attracting investment and ensuring development of the construction industry, particularly industrial construction
149 kb

TO THE ISSUE OF ELIMINATING THE NEGATIVE IMPACT ON THE EXISTING SPECIALLY PROTECTED NATURAL AREAS OF THE KUBAN

abstract 1291705090 issue 129 pp. 1245 – 1256 31.05.2017 ru 305
Existing control system of functioning specially protected natural areas is not sufficient for the preservation of biological and natural diversity of the Krasnodar region. To create favorable conditions it is necessary to ensure the safety of ecosystems on the territory of natural distribution, conservation of viable populations of plants and animals, maintenance of ecological processes. It is necessary to do a cadastral registration of newly formed protected natural areas, to do a preparation of a management plan for the newly formed protected natural areas, to do an evaluation of effectiveness of intermediate design solutions, to do full ecological survey of natural objects, which is planned to declare the specially protected natural areas at the regional level. In our opinion, on the territory of Krasnodar region it is necessary to adjust the regulatory legal acts in accordance with applicable law, it must be coordinated interaction of federal and regional authorities. We consider that it is appropriate to set a deadline for agreeing the boundaries of protected areas’ zones for entering information into the Unified State register of real estate that will accelerate the procedure of establishment and abolishment of specially protected natural areas
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