Standard of deferred payment

While standard of deferred payment is distinguished by some texts,[5] particularly older ones, other texts subsume this under other functions.[4][16][17] A "standard of deferred payment" is an accepted way to settle a debt – a unit in which debts are denominated, and the status of money as legal tender, in those jurisdictions which have this concept, states that it may function for the discharge of debts. When debts are denominated in money, the real value of debts may change due to inflation and deflation, and for sovereign and international debts via debasement and devaluation.

Гроші

Гроші будь-який об'єкт або записи, які, як правило, приймаються для оплати товарів і послуг та погашення заборгованості в даній країні або соціально-економічний контекст [1] [2] [3] Основні функції грошей відрізняються як:. засіб обміну; розрахункової одиниці; заощадження;. і, іноді, стандарт відстрочкою платежу [4] [5] Будь-який легко перевіряються записи служить цих функцій, а також об'єкт ("об'єкт", що береться як гроші насправді служить лише тип безпечного запису), і "електронних грошей", який існує тільки в якості безпечного запису в комп'ютерних файлів, в даний час найбільш поширеною формою грошей.

Монети та банкноти - два найбільш поширених фізичної форми грошей.

Грошової маси в країні складається з валют (банкнот і монет) і депозити до запитання або банківських грошей "(баланс відбулася в поточних рахунків і ощадних рахунків.

Види грошей

Товарних грошей

Представник гроші

Fiat гроші

Комерційна Money Bank

Функції

Засобом обміну

Розрахункова одиниця

Заощадження

Стандартний 2,4 відстроченого платежу

Засіб обміну

Коли гроші використовуються для проміжного обміну товарів і послуг, вона виконує функції як засобу обміну. Тим самим вона уникає неефективності бартерної системи, таких як "подвійне збіг бажань проблема.

Розрахункова одиниця

Розрахунковою одиницею є стандартною чисельного одиниця вимірювання ринкової вартості товарів, послуг та інших операцій. Також відома як "міру" або "стандартний" відносної цінності та відстрочення платежу, одиницею рахунку є необхідною передумовою для розробки комерційних угод, які включають боргу. Діяв в якості "одиниці рахунку", то, що використовується як гроші мають бути:

Ділиться на більш дрібні одиниці без втрати вартості; дорогоцінних металів може бути придуманий від барів, або переплавлені в зливки знову.

Взаємозамінні: тобто, один блок або частина повинна сприйматися як еквівалент будь-якого іншого, тому діаманти, твори мистецтва або нерухомості не підходять в якості грошей.

Питома вага, або заходи, або розміру, щоб бути що перевіряють лічильно. Наприклад, монети часто фрезеровані з зарослий очеретом краю, так що будь-яке видалення матеріалу з монет (зниження її вартості товару) буде легко виявити.

Заощадження

Виступати в якості засобу заощадження, гроші повинні бути в змозі бути надійно збережені, зберігаються і отримати - і бути передбачуваним, використовуваний як засіб обміну, коли вона буде вилучено. Значення грошей повинні залишатися стабільними протягом довгого часу. Деякі стверджують, що інфляція, за рахунок зниження вартості грошей, зменшується здатність грошей діяв в якості засобу збереження вартості [4].

Стандарт відстрочкою платежу

Хоча стандарт відстрочкою платежу відрізняється деякі тексти, [5] особливо старі, інші тексти, підвести це під інші функції. [4] [16] [17] "стандарт відстрочкою платежу" є загальноприйнятим способом врегулювання боргу - одиниця, в якій борги номіновані, і статус грошей як платіжного засобу, в тих юрисдикціях, які цю концепцію, стверджує, що вона може працювати для виконання боргів. Коли борги, виражені в грошах, реальну вартість боргів може змінитися через інфляцію і дефляції, а також для суверенних і міжнародних боргів через приниження і девальвація.

8. MARKETING

Marketing is a complex area of business which includes buying, selling, market research, transportation, storage, and advertising.

There are four principal controllable factors – the four P’s: product, Price, Place and promotion.

Place includes location of production and distribution. The place to see your product could be in dealers’ showroom or directly from the factory or from catalogs, direct-mail coupons, even telemarketing with telephone sales people or through computer shopping services.

Promotion includes all forms of marketing communication (advertising, direct mail, image). The two basic types of advertising are: product and institutional. Both product and institutional can be subdivided into three categories according to purpose: to inform, persuade or remind.

The most controllable of these factors is the first “P ” - product (service). All product life cycle are: introduction, growth, maturity and decline.

WHOLESALE AND RETAIL TRADE

The wholesale trade sector comprises establishments engaged in wholesaling merchandise, generally without transformation, and rendering services incidental to the sale of merchandise. The wholesaling process is an intermediate step in the distribution of merchandise. Wholesalers are organized to sell or arrange the purchase or sale of (a) goods for resale (i.e., goods sold to other wholesalers or retailers), (b) capital or durable nonconsumer goods, and (c) raw and intermediate materials and supplies used in production. Wholesalers sell merchandise to other businesses and normally operate from a warehouse or office.

The retail trade sector comprises establishments engaged in retailing merchandise, generally without transformation, and rendering services incidental to the sale of merchandise. The retailing process is the final step in the distribution of merchandise; retailers are, therefore, organized to sell merchandise in small quantities to the general public. This sector comprises two main types of retailers: store and nonstore retailers.

=11,12= TYPES OF BANKS. THE BANKING SYSTEM OF UKRAINE

Banks are institutions dealing with money.

Type 1. Saving Banks

Saving banks are established to create saving habit among the people. These banks are helpful for salaried people and low income groups. The deposits collected from customers are invested in bonds, securities, etc.

Type 2. Commercial Banks

Commercial banks are established with an objective to help businessmen. These banks collect money from general public and give short-term loans to businessmen by way of cash credits, overdrafts, etc. Commercial banks provide various services like collecting cheques, bill of exchange, remittance money from one place to another place.

Type 3. Industrial Banks / Development Banks

Industrial / Development banks collect cash by issuing shares & debentures and providing long-term loans to industries.

Type 4. Land Mortgage / Land Development Banks

Land Mortgage or Land Development banks are also known as Agricultural Banks because these are formed to finance agricultural sector. They also help in land development.

Type 5. Indigenous Banks

Indigenous banks means Money Lenders and Sahukars. They collect deposits from general public and grant loans to the needy persons out of their own funds as well as from deposits.

Type 6. Central / Federal / National Bank

These central banks are the bankers of the other banks. They provide specialised functions i.e. issue of paper currency, working as bankers of government, supervising and controlling foreign exchange. A central bank is a non-profit making institution

Type 7. Co-operative Banks

They generally give credit facilities to small farmers, salaried employees, small-scale industries, etc.

Type 8. Exchange Banks

These banks are mainly concerned with financing foreign trade.

Type 9. Consumers Banks

Consumers bank is a new addition to the existing type of banks. Such banks are usually found only in advanced countries like U.S.A. and Germany. The main objective of this bank is to give loans to consumers for purchase of the durables like Motor car, television set, washing machine, furniture, etc.

 

THE BANKING SYSTEM OF UKRAINE dates to March 1991, when the Ukrainian Parliament passed the law ‘On Banks and banking activities’. The banking system of Ukraine can be determined as two-level, composed of the National Bank and commercial banks.

The National Bank of Ukraine is the central financial body of the state conducting a uniform national monetary, credit and currency police and coordinating and supervising the whole banking system; Improvement of the system of inter-bank settlements; Legislative and regulatory activity.

The National Bank of Ukraine is the central bank of the country, which conducts a uniform state policy in the area of monetary circulation and credit and ensures the stability of the national currency; issuing centre; foreign exchange authority; supervisory body; bank of the banks; bank of the State; organizer of interbank settlements.

Commercial banks are formed as joint-stock companies or as companies on an equal footing with both legal and natural persons involved. The range of commercial banks activities includes: receiving deposits of enterprises, institutions and households, crediting of economic entities and households, investments in securities, formation of cash balance and reserves, as well as other assets, cash and settlement servicing of the economy, foreign exchange operations and other services to natural persons and legal bodies.

The major banks are Prominveslbank, the «Privat» Bank, the Export-Import Bank, «Avah>, the Savings Bank of Ukraine and Ukrsotsbank. Five of the commercial banks are the former specialized state banks: one is a savings bank (Oschadnybank), two are specialized lending banks (Prominvestbank and Ukrsotsbank), and one is the Export-Import Bank of Ukraine (Ukreximbank). Oschadnybank and Ukrcximbank are still stale owned. Prominvestbank and Ukrsotsbank receive concessionary treatment from the NBU and arc responsible for the vast majority of corporate lending.

 

13. ACCOUNTING. FINANCIAL STATEMENTS

Accounting is the recording, classifying, summarizing and interpreting of the business activities that can be expressed in monetary terms. Accountancy is sometimes used as alternative expression expecially for the practice of accounting.

Accounting information can be classified into two categories financial accounting or public information and managerial accounting or private information.

Accounting in any country reflects the level of its economic development to some extent. A new phase of accounting development in Ukraine began on January 1, 2000, when the Law On Accounting and Financial Reporting in Ukraine and the Accountong Standards (provisions) of Ukraine came into force. The Verkhovna Rada of Ukraine adopted the Law on July 16. This day is now celebrated as a professional holiday, the Accountant’s Day.

The annual financial statements of enterprises comprise the following: Balance sheet, Income statement, Cash flow statement, Owner’s equity statement, Notes to the annual financial statements.

The balance sheet shows the financial position of a business on a certain date, usually the end of the month or year. The accounting equation of the Balance sheet is: Assets = owner’s equity+liabilities.

The income statement is a statement summarizing the firm’s revenues and expenses over an accounting period, generally a quarter or a year.

Cash Flows statement – a statement reporting the impact of a firm’s operating, investing and financial activities on cash flows over an accounting period.

Statement of owner's equity. The statement of owner's equity is prepared after the income statement. It shows the beginning and ending owner's equity balances and the items affecting owner's equity during the period.

Notes to the financial statements report the details and additional information that are left out of the main reporting documents, such as the balance sheet and income statement. T his is done mainly for the sake of clarity because these notes can be quite long, and if they were included, they would cloud the data reported in the financial statements.

14. BUDGET SYSTEM

A budget is a detailed plan outlining the obtaining and use of financial and other resources over some given time period. It represents a plan for the future expressed in formal quantitative terms. The state budget is a plan of obtaining and use of financial resources to provide with the functions which are carried out by the state authorities of Ukraine.

Most firms prepare yearly budget from short-term and long-term financial forecasts.

There are usually several budgets established in a firm: an operating budget, a capital budget, a cash budget and a master budget.

An operating budget is the projection of money allocation to various cost and expenses needed to run or operate the business.

A capital budget consists of the firms spending plans: the purchase of such assets as property, buildings, equipment.

A cash budget is the projected cash balance at the end of a given period. It is important for managers in borrowing, debt repayment, cash disbursements, and short-term investment expectations.

A master budget ties in all the above mentioned budgets and summarizes the proposed financial activities of the firm.

15. ПОДАТКИ

The peculiarities of the Ukrainian Taxation Code lie in the evolutionary approach to improving the Ukrainian Taxation system.

Taxation of physical entities income. Introduction of tax – exempt minimal income corresponding to the poverty line and three tax rates instead of operating five tax rates should be the basis for improving taxation of entities income.

Property tax. The concept proposes to unite three taxes in one – two taxes already exist (a tax on vehicle owners and land payment) and one has not been effected yet (a real estate tax).

Local taxes and dues. The concept envisions changes in the structure of local taxes and dues, because some of them do not play an essential role in the budgets replenishment, but require considerable administrative expenses.

American Taxation system have some principle of taxation. The first one is the benefit principle.

And it is the second principle – the ability to pay principle. Most taxes can be classified as progressive, regressive, and proportional by their economic impact on the firms that have to pay them.

A regressive tax is one that takes a higher percentage of a low income and lower percentage of a high income.

A proportional tax takes the same percentage of all incomes, regardless of size.

If income tax is designed to be progressive, it means that it takes a larger fraction of high income than of low income.

 

STOCK EXCHANGE

A stock exchange is a market for secondary securities. A stock exchange is a form of exchange which provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and dividends.

Only shares of public limited companies with sound financial standing can be listed and admitted to trading in the stock exchange. Younger and smaller companies which cannot obtain a listing also issue shares; these are traded in the unlisted securities market.

Stock exchanges have multiple roles in the economy. This may include the following: 1. The Stock Exchange provide companies with the facility to raise capital for expansion through selling shares to the investing public. 2. To facilitating company growth. 3. Mobilizing savings for investment 4. Profit sharing; 5. Corporate governance

The price of shares differs from day to day and they are reported daily in newspapers in the form of indexes. The London Stock Exchange index is called the FTSE (Footsie), the New York Stock Exchange index is called the Dow Jones, in Poland it is called WIG. These indexes show the market value of selected companies and represent the changing supply and demand for shares. The transfer of shares and stocks is made by completion of a transfer form – in fact they may change hands every day.

Most transactions are now completed not on the market floor but through a computer system or over the telephone.

The most famous stock exchanges are located in London, New York, Tokyo, Paris and Frankfurt.