Theoretical approaches to the definition of financial support
The article is devoted to the study of the essence of the economic category «financial support» in the economic literature. The purpose of the article is research and evaluation of theoretical approaches to the definition of financial support for the scientific justification of the functional-proces...
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| Format: | Article |
| Language: | English |
| Published: |
Zhytomyr Polytechnic State University
2024-04-01
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| Series: | Економіка, управління та адміністрування |
| Subjects: | |
| Online Access: | http://ema.ztu.edu.ua/article/view/300925 |
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| Summary: | The article is devoted to the study of the essence of the economic category «financial support» in the economic literature. The purpose of the article is research and evaluation of theoretical approaches to the definition of financial support for the scientific justification of the functional-process approach. The interpretation of financial provision in the economic literature is considered and the most common definitions of it by the authors are highlighted: as a system of sources and forms of financing, as a set of economic relations and as a set of measures and conditions to ensure the process of formation and use of financial resources for a specific purpose. Seven scientific approaches to determining the essence of financial support have been formed. It is substantiated that the system approach involves the determination of financial support from the position of system elements, which includes sources, forms and methods of financing. The basis of the object approach is financial resources, the process of their search, accumulation and further distribution, which forms a set of economic relations. The process approach is focused on a set of measures and conditions that ensure the process of formation and distribution of financial resources. The cost approach indicates the ultimate goal of the formation and use of financial resources in order to cover costs at the expense of accumulated resources. Methodological approach - involves the possibility of financial influence on socio-economic development with the help of a financial mechanism. The functional approach is identified with a set of functions, the implementation of which will lead to the expected result. Organizational approach – considers financial support from the position of a complete organizational system, which includes regulatory and legal support, the process of forecasting and determining the amount of financial resources and the creation of appropriate financial reserves. The author’s approach to the definition of the economic category «financial support» from the position of a complex approach combining functional and process approaches has been formed and substantiated. |
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| ISSN: | 2664-245X 2664-2468 |