Budgetary policy is part of the financialpolicy pursued by the state. It determines the principles of organization of relations in the field of finance in the formation of budget revenues, the implementation of their expenditures, and the conduct of intergovernmental fiscal relations. This policy affects the proportions and amounts of financial resources that are centralized by the state, determines the cost structure and the prospects for applying budgetary funds for the development of the country's economy.
The budgetary policy of the state regulates allrelations in the field of finance that occur between enterprises and the state through the implementation of tax charges, investment policy, planning of budget expenditures in respect of priority industries.
The state has a purposeful effect oneconomy, changing the scope and structure of government spending, taxation and state property, which are the tools through which the budget policy is implemented. Its main parameters are reflected in the budget and act as a tool for managing state finances.
The objectives of fiscal policy for the fiscal year are spelled out in the Budget Message of the President to the Federal Assembly.
Budgetary policy is a strategic direction,which determines the prospects for the formation and subsequent use of finance in order to solve the main problems of the economy. Therefore, three main directions of this policy are singled out:
- The allocative component.It means the need to adjust the market mechanism for regulating financial resources in the economy in order to increase market efficiency. For example, when collecting taxes, the state can limit the production of goods unclaimed on the foreign market and promote the production of such goods that have great merits.
- Distribution component.It consists in changing the results of income distribution. Example: a budget policy to collect taxes from the working population helps pay disability benefits and pensions.
- Stabilizing component. Determines the impact on the macroeconomic balance, determined by the size of taxes, budget expenditures, the amount of public debt and the overall state of the credit system.
It should be noted that the accounting policybudget organization plays a special role in the organization of budgetary accounting. At the enterprise, it is determined through the chart of accounts and the existing requirements for the organization of budgetary accounting in this area.
Budget accounting (as opposed to commercial accounting)organization) is much more difficult. At the same time, the level of control over the use of budget funds is much higher. What in this case will the accounting policy give? Allows you to consolidate existing methods of accounting, which apply from year to year.
The structure of the accounting policy includesorganizational, methodical sections and applications with a working chart of accounts, a schedule of workflow and a list of un-unified forms created by the organization independently.
