Introduction. In the coming years, the accounting sector is expected to undergo major changes due to the fact that Blockchain technology is being actively introduced in the financial sector of the countries. The article gives a critical assessment of the situation, as well as discusses the problematic aspects and prospects for the development of the blockchain in the system of accounting and auditing. The definition of the economic content of the blockchain is investigated. It has been found that the cryptocurrency system works on Blockchain technology, the essence of which is the possibility of a separate group of people to manage a virtual "ledger", i.e. one sheet of such a book is a block, and the book itself is a chain of block sheets. The platform is a public register based on distributed ledgers, which can be shared across multiple network nodes, providing each participant with their own copy. The studied technology has an important feature for accounting, because the information created in this database can be trusted, even if there is no trust in the counterparty. Blockchain technology is the basis of the basic principles of cryptocurrency: transparency, anonymity, decentralization,speed and security. Blockchain technology and one of the products of its implementation - cryptocurrency, can really be a starting point for the transformation of the world economy and its implementation in Ukraine. With the help of the blockchain, the relations «state-business», «business-business», «population-state» can change significantly. In other words, the main transformation will be related to the possibility of delegating to a computer program (algorithm) the conduct and certification of transactions without the participation of third parties (state, banks, other intermediaries), the results of which will be trusted by all or most economic entities (market). Methods. The authors used the following scientific methods in the process of research: induction and deduction - in the process of studying the general trends of Blockchain development in Ukraine, analysis and synthesis - during theoretical generalizations, formation of appropriate conclusions; bibliographic - research of literary sources to obtain the necessary information on the research topic; method of associations and analogies - for proposed new ideas and proposals that arise from comparison with other more or less similar objects. Results. Proponents of Blockchain technology believe that the new tool will be able to replace not only accountants but also banking institutions and many financial intermediaries. According to the Blockchain Research Institute, Ukraine was on the list of 14 countries that were recognized as leaders in the implementation of Blockchain. However, the state needs to restructure huge systems with a huge number of people to use this tool. Blockchain technology aims to put an end to traditional methods of accounting, documentation, processing, registration, inventory systems. Blockchain allows companies to register both parties to a transaction simultaneously in a shared book in real time, rather than storing matched records of financial transactions separately in a private database. The need for traditional double-entry bookkeeping will be eliminated, as the verification of the legality of accounting will be fully automated. Disscusion. The main task set when writing the article is to substantiate the feasibility of using blockchain technology in accounting and auditing.
Modern decentralized technologies, such as distributed registries, blockchain, smart contracts and decentralized autonomous organizations (DAO), are becoming more popular every year. Therefore, the subject of our research, the results of which are presented in this article, is the processes of digitalization in the field of management control and key technologies that allow to organize an effective system of management control in a decentralized organization. The success of management control is determined not only by its ability to identify and correct undesirable deviations in a timely manner, but also by the presence of a special corporate culture based on trust and fairness. Moreover, a positive corporate culture reduces the need for a number of control procedures designed to compensate for the lack of trust within the company. This effect can also be seriously enhanced by modern digitalization technologies. The research methodology included a broad review of literature sources and a comparative analysis of modern concepts of decentralized management, as well as drawing conclusions about promising ways to evolve management control systems. The aim of the study is to identify the impact on management control systems of modern technologies such as blockchain, smart contracts and decentralized autonomous organizations. The authors summarized the experience of applying these technologies in management control systems, which are designed to ensure high individual and team performance to achieve the strategic goals of the company. The conclusion is that the blockchain-based decentralized autonomous organization (DAO) is changing the forms and methods of management control, increasing the role of collective decisions and opening the way for employee initiative. DAO can significantly reduce internal and external transaction costs, including costs associated with the management and operation of management control systems. Different procedures for approval, confirmation and verification, as well as the adoption of standard management decisions are unified and automated. Accordingly, the time and the total amount of effort spent by managers to perform routine actions related to monitoring and control of employees' actions is reduced. Decentralization of control also reduces the impact of administrative procedures and ensures a higher level of trust within the organization. The decentralized model of management control is relevant for various areas of business and management, but special prospects can be seen in the field of decentralized finance (DeFi), where a wide range of professional controllers and users can be involved in auditing smart contracts and identifying shortcomings in financial services.
The transformation from analogue to digital risk management is becoming a prerequisite in the implementation of the incresingly digital bank institutions’ strategies. Among the key steps in this direction is the optimal use of blockchain technology’s potential and artificial intelligence. Huge hopes are set on blockchain in view of two key risks facing today’s banks: the danger of using the bank system for money laundering and financing terrorism, and cyberattack threat. Artificial intelligence, in turn, creates conditions for processing large arrays of unstructured data risk, more precise identification of potential problems in the future, full automation of manual processes in risk function, credit scoring automation, developing adequate market risk assessment models, etc.
The article presents an analysis of the current level of financial literacy of young people in cryptocurrency. Purpose of work: revealing of the main problems connected with low growth of activity of youth in the market of cryptovoltaic currency. Identification and comparison of the main risks and opportunities on the cryptocurrency market are defined as priorities. In the article the methods of interrogation, the comparative analysis, deductive and inductive conclusions are resulted, and also construction of theoretical model of the relation of a society of the cryptocurrency by means of writing of conclusions and recommendations to this question is made. It was concluded that the low level of financial literacy of young people in the cryptocurrency is largely due to the government's passive policy in this direction, as well as the myths and illusions surrounding the cryptocurrency. There is direct connection between the level of readiness of citizens to invest their money in cryptocurrency and the level of innovation of the state economy.
The purpose of this research is to determine the prospects for the use of cryptocurrencies on the example of bitcoins. In the process of theoretical research economic and legal features of cryptocurrencies are revealed: their performing of the money functions, types of economic transactions carried out with their involvement, the legal security of the cryptocurrency market. Problems related to the decentralization of cryptocurrencies are analysed. Among them there are the threat to the stability of national currencies, the use of cryptocurrencies for financing of criminal activities, weak financial control over operations in cryptocurrencies, which reduces the possibility of adequate taxation of related incomes. It was found that improving the legal structure of cryptocurrency circulation, ensuring financial control over it would help to reduce the economic dangers and risks associated with the use of virtual money. The tendencies in change of the extracted volume, exchange price, market capitalization of such cryptocurrency as bitcoin are analysed. It is determined that bitcoin shows sharp price fluctuations over short periods of time that are not related to its quantity. But the demand and supply of bitcoins are influenced not only by speculative expectations, but also by fundamental factors, that influence the prices of other stock assets. In addition, the price of bitcoins is affected by development of the computer technologies and by legislative changes. This allows to make predictions about the dynamics of the price of virtual money. Scenarios for the development of the cryptocurrency market in Ukraine are proposed. Legislative support for the bitcoin market would accelerate its development, make its operations safer for its participants and help to counteract money laundering operations.
The article deals with the impact of the COVID-19 pandemic on the financing of the health care system, and the main challenges to the stability of the financial mechanisms of post-pandemic health care development have been identified. The author substantiates the peculiarities of the crisis of health care financing in the conditions of the current pandemic, further economic recession and decreased fiscal sustainability. The global practice of fiscal response to the manifestations of the COVID-19 pandemic has been systematized and the volumes of the corresponding financing in the countries with insurance and budgetary systems of health care financing have been estimated. The article identifies mechanisms for the transformation and expansion of the fiscal space in the context of expanded financing of the growing need for medical care in the face of new epidemic risks in different countries. Most often, the expansion of a country's fiscal space is carried out by: redistributing the existing amount of government expenditure for health care and redirecting funding flows from financing certain types of medical care to financing programs to overcome and combat COVID-19; changes in the priority of government health expenditure to combat COVID-19 compared to other budget expenditures on the social sphere and economic development; and using national reserve funds and emergency funds. It has been found that in the field of health care, the vast majority of countries have reduced the economic and territorial deprivation of all population groups in access to the diagnosis and treatment of COVID-19. The author emphasizes the weaknesses of insurance based and decentralized health financing mechanisms to respond to the growing need for health care and financial stability during the pandemic. Substantiated the necessity to expand the fiscal space needed to cover the fiscal gap in Ukraine caused by the requirement to increase health care financing in response
The purpose of the article is to identify the correspondence between the revenue and expenditure parts of local budgets, which are responsible for the significant part of state expenditure financing due to financial decentralization reform. The article provides a comparative analysis of decentralization levels of local budgets in Ukraine and European countries by revenues and expenditures, as well as analyzes the structure of revenues and expenditures of the consolidated budget which include state and local budgets. The article notes that over the past ten years, the gap between revenue and expenditure has narrowed due to decentralization reform, but fiscal balance has not been achieved.The results of the analysis demonstrate the existence of a significant vertical imbalance in the budget system of Ukraine, which consists in the insufficiency of own and fixed financial resources of local authorities to ensure their powers. In terms of income decentralization, Ukraine ranks middle among Eastern European countries, while the level of expenditure decentralization corresponds to the level of Scandinavian countries, where the state plays an active role in income redistribution and has high institutional efficiency and high social standards. The article substantiates that the vertical imbalance exist due to the inefficient structure of local budgets’ revenues, in particular the high share of transfer payments from the state budget to local budgets, as well as the low share of own revenues, namely local taxes, in tax revenues. In order to strengthen the revenue side of local budgets and reduce vertical imbalances it is proposed to increase the tax base of local taxes through development of business and welfare in the regions, to increase the share of deductions from corporate tax and personal income tax to local budgets, to improve the control over local budget revenues and to optimize local expenditures, including social protection and social security expenditures. As the practice of foreign countries with decentralized budget systems shows, the elimination of vertical imbalances leads to a significant increase in the fiscal capacity of the regions. JEL classіfіcatіon: E62, H61, H71, H77 Manuscript received 30.04.2020
Dimitri Gagliardi, Foteini Psarra, René Wintjes, Kevin Trendafili · 10 authors
[EN] The study “New technologies and digitisation: opportunities and challenges for the social economy and social enterprises” sets out to explore how the rising importance of the social economy in Europe is facing the challenges of digital transformation. It focuses on whether, why, how, and to what extent the integration of digital platforms and advanced technologies (i.e. Open-Source, Artificial Intelligence, Internet of Things, Big Data, Distributed Ledger Technologies) may affect the design and delivery of new/better social and societal impact by the social economy. This study shows that digital platforms and advanced technologies’ capabilities of automating and simplifying operations are opening up opportunities for the social economy in terms of increased reach and enhanced effectiveness. Digitalisation also underpins the creation of new and innovative social services and working conditions helping to tackle existing and emerging social and societal problems. Whilst these trends are set to continue in the near future, European Institutions, Member States policymakers and social entrepreneurs should commit to promote and support the digital transformation of the social economy and encourage the uptake, scale-up/scale-out and duplication of innovative digitally-enabled initiatives. Areas of intervention have been identified. Resources for Research and Innovation as well as traditional sources of revenues play an important role for the development and take-up of digital technologies for and by the social economy. Likewise, the development of entrepreneurial and digital skills of social economy actors are needed to foster the vision of the European digital social economy. Collaborations between various stakeholders in nurturing environments (social clusters, creative spaces or incubators) may effectively promote the modernisation of the social economy by strengthening and growing digital native cohorts of social economy organisations. Finally, in order to promote cross-Member State growth of the social economy, it is advisable to harmonise the legal forms and statutes regulating the various actors of the social economy. This way, digital platforms and advanced technologies may truly contribute to the establishment of the European digital social economy fit for the societal challenges of the 21st century.
The culture has always been funded residually. And now funding continues to be made available to address the immediate needs of communities. Subventions received by communities as part of the reform were aimed at road mending, renovating municipal equipment, water suppling, and upgrading. As a result, it is impossible to maintain cultural institutions and provide quality cultural services to the population in less well-off communities. This may result in depressed territories being left without cultural facilities, cultural programs and projects. Another problem that exists in villages, towns and small towns is the so-called «staff shortage». Low wages and lack of professional prospects in rural areas don’t help involvement of experts to work for positions in the field of culture. In the more capable ATCs, as well as in the communities that have become the centers of the community, there is often at least a team of the director, the artistic director, the circle leaders who organize the cultural life in the community. But in small villages, in houses of culture, the enthusiasm of only one person who has worked in this position all his life is still held. This person is at the same time a director, artistic director, head of all circles, and sometimes a technical worker. According to R. Yu. Mylian, increased attention to solving problems of the sociocultural development of rural settlements will contribute to the preservation and development of cultural institutions in rural areas, prevent the outflow of the working and most educated population, especially young people, and will eventually strengthen the sustainable development potential of Ukraine as a whole. The organization and holding of mass cultural events in rural areas is an effective means of strengthening the competitiveness of rural areas, enhances the development of cultural interregional and cross-border cooperation, event-tourism and has a positive impact on the branding of rural settlements as tourist attractions. To address the above issues, is invited to identify an approach whereby a State, acting by the Culture Ministry, will develop standards for the minimum volume and quality of cultural services, compliance with which will be mandatory for local governments in communities. This may occur by defining and establishing a set of basic services guaranteed by the State and financed from the State budget. For the normal functioning of State culture, it is necessary to establish a new concept of these institutions activities in the ATC, to provide for tax exemption by legal acts and to clearly define the types of services provided by cultural activity.
Relevance of the research topic. In the current conditions of economic transformations, the issues of increasing the validity of the fiscal policy, strengthening the effectiveness of public and municipal finance management systems are relevant. An important task is to restore the budget balance, coordinate the actions of public authorities and local governments in the process of formation and implementation of fiscal policy. Formulation of the problem. Based on the transformation processes in the domestic system of public finance, the important tasks are to substantiate the directions of development of public and municipal finance systems, their components. At the same time, the choice of fiscal policy tools should be made taking into account the cyclical and dynamic economic processes. Analysis of recent research and publications. The issue of formation and implementation of fiscal policy for the development of public and municipal finance systems is quite common in research. These are the works of well-known domestic and foreign scientists: J. Keynes, P. Samuelson, V. Nordhaus, J. Stiglitz, V. Tanzi, T. Bogolib, I. Zapatrina, L. Lysyak, V. Oparin, M. Pasichnyy, V. Fedosov, I. Chugunov, and others. Highlighting unexplored parts of a common problem. These issues are relevant in connection with the intensification of globalization processes, unfavorable external and internal economic environment, which requires several specific tasks related to the fiscal policy development. Goal setting, research goals. The research goals are to reveal the essence and role of state and municipal finances in financial and economic regulation; to determine the priority tasks of fiscal policy in the conditions of economic transformations. The purpose of the study is to reveal the institutional principles and directions of development of public and municipal finance management systems. Research method or methodology. The set of methods of scientific research is applied in the article: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Basic material presentation (results of work). The essence and role of state and municipal finances in financial and economic regulation of the administrative-territorial units development and the country are revealed. The priority tasks of fiscal policy in the conditions of economic transformations are defined. The analysis and assessment of budget indicators is carried out. Area of application of results. The results of the study can be used in the process of the formation and implementation of the fiscal policy of Ukraine, reforming the public finance system. Conclusions according to article. Measures for further improvement of state and municipal finance should aim at optimizing the functions of state and local governments and their efficient allocation among them. Strengthening decentralized processes in Ukraine aimed at creating a modern system of local governments, municipal finance development based on European values. Achieving concrete results, identified under the priorities of fiscal policy at the local level, implies clear coordination and increasing the level of responsibility of all participants in the budget process.
Relevance of the research topic. The implementation of medical reform in Ukraine, which provides radical structural changes in the health care system, the transformation of financing mechanisms for services, and at the same time the implementation of budgetary reform, an integral part of which is budget decentralization, makes the issue of assessing the role of local budget spending on health care. Formulation of the problem. In conditions of limited budgetary funds, growing debt and budgetary decentralization, successful implementation of health care reform is impossible without increasing the role of local budgets in financing the industry of development priority areas. Analysis of recent research and publications. The works of I. Chygynova, V. Makogon, M. Pasichnogo, Ju. Markuts, I. Kogut, Y. Pasichnik, V. Tropina [1-6] and others are devoted to the study of issues related to the problems of the article. The results of their own research of some of the indicated problems are presented in [6-8]. Segregation of unexplored parts of a common problem. In the context of deepening budget decentralization, strengthening the financial base of local budgets, expanding the functional powers of local governments, it is necessary to further search for ways to increase the role of local budgets in health care financing. The purpose of the article is to assess the role of expenditures of local budgets of Ukraine on the health care sector in the context of deepening budget decentralization and to develop proposals for improving its financing. Duringresearch, general scientific and special methods were used: analysis and synthesis, the method of generalization, statistical, etc. The article analyzes and evaluates the total expenditures of local budgets for health care, as well as for the regional program "Health of the population of the Dnipropetrovsk region for 2020-2024". The attention is focused on increasing the role of local budget expenditures in the process of changing the health financing model. The basis for expanding the capacity of local governments to finance health care was the deepening of budgetary decentralization, changes in the distribution of taxes to local budgets, etc. Conclusions. In conditions of acute limited financial resources, success in the formation and effective use of funds from local budgets of Ukraine for the development of an appropriate health care system is associated, first of all, with the consistent implementation of the financial and budgetary policy of the state, the coherence of medical and budgetary reforms, priorities, increasing the efficiency of the use of budgetary funds in format of target program budgeting. The results of this study can be applied in the process of forming and implementing social and budgetary policies for the development of the health care system in the country.
Halyna Voznyak, Наталия Владимировна Савчук, Iryna Zherеbylo, О. І. Скаско
Modern transformational changes occurring in the socio-economic life of countries are conditioned by the evolution of information and communication technologies, the deployment of globalization, decentralization, the strengthening of the openness policy and the increase of efficiency of use and hence the transition from a bureaucratic model of government to a consensus model, a built model. implementation of entrepreneurial management mechanisms in providing social services to the population actualize the need for rethinking and justification the structure of public finance in the new environment. On the basis of systematic analysis, the theoretical aspects of «public finances» are revealed in the article, their structure is substantiated and the necessity of application in scientific circulation as an important dominant of civil society is proved. It is emphasized that the essential characteristics of this definition are revealed by the existence of financial and economic relations between the population, the state, other public institutions and economic entities regarding the formation, distribution, and use of public funds to meet the public needs of the population. It is shown that the structure of public finances is formed by state and local finances, finances of communal enterprises and state corporations, finances of enterprises and organizations of communal ownership, extrabudgetary trust funds and public funds. Among the dominant features of public finances in the context of modern transformations are transparency and imperative character. It has been argued that the vector of public finance reform must continue to be decentralization, which, in addition to the redistribution of resources and powers, should promote the extension of the financial powers of local governments, increase the transparency of both public and local finances, and raise public accountability. the public sector and improving the quality of life of the population.
Oksana Muzyka-Stefanchuk, Олеся Отраднова, N. L. Huberska, Natalia Borsuk · 5 authors
The decentralization is not a new phenomenon for Ukraine. The processes, directed to establish and to develop the local self-government according to European model, going away from complete subordination of local power to the state power during Soviet times, were activated since the state acquired the independence. The purpose of article is to study how the processes for decentralization of power, finances, etc. are run under conditions of financial, economical and political crisis that take place in Ukraine and countries of Europe. The local self-government and decentralization of power shall ideally have the connection with the territorial community. The decentralization of power in Ukraine is not the aspiration of territorial community but the attempt to remove someone from power, to divide the power, being received, between other people. It is necessary to establish the regulatory background for development of local self-government, as well as to work out and to implement the norms for division of receipts from general state taxes and duties into practice. In our opinion, the abovementioned vision is not only the understanding of decentralization but the understanding of local self-government itself. When the processes, related to development of rights at territorial communities or other territorial formations, start in the totalitarian country, where the real local self-government is absent, in this case one can speak about decentralization of power. That is to say, the state transfers the part of its functions to the communities. If the local self-government already exists, if the budget legislation assigns the corresponding receipts (assigned, own, regulating incomes) to the budgets of different levels, if the will is implemented in communities (through elections, referendums), so, this means that the power is already decentralized. There is a need for identified potential threats from such positive at first sight processes. Because there is the possibility to receive the additional financial resources directly from state budget (budget and fiscal decentralization). Namely this is the main purpose to establish the united territorial communities. And here exclusively the populism slogans are that the purpose of such newly established communities is to approach the services to population, availability of residents in territorial community to solution of issues of local importance, etc. From the other hand, decentralization – this is what the ones who want more power are covered, because the power is money.
This article is devoted to cryptocurrency as the newest form of currency in an era of a rapid IT development. The cryptocurrency<br> is substantially known to have a number of advantages, and, thus, could be integrated into the global financial<br> system to increase its effectiveness. However, there are some issues concerning its usage. In particular, a possibility to use cryptocurrency anonymously might cause some issues with taxation and also lead to an increasing number of illegal<br> transactions. In conclusion it is stated that in the medium run cryptocurrency might qualify as the global currency and<br> even replace fiat money.
The article deals with an important and relevant topic – the definition of the concept and essence of cryptocurrencies, the study of the problems of their legal regulation, the rationale for control over their turnover, as well as the analysis of ways to counter money laundering that involves cryptocurrency. The authors emphasize that measures taken exclusively at the state level are not enough to create an effective, integrated and comprehensive system for regulating the legal status of cryptocurrencies. Therefore, international cooperation and the strengthening of cooperation between various states in the field of cryptocurrency regulation is important. The authors analyze the scientific doctrine regarding the essence of cryptocurrency. It was found out that there was no single approach to the definition of “cryptocurrency” among scientists. Moreover, cryptocurrencies in various laws of the world have different status. The authors used general scientific and special scientific methods, which provided an objective analysis of the purpose of the study. The research methods were used in interconnection and interdependence, which ensured the comprehensiveness and completeness of the research, as well as the validity of the obtained scientific results. The authors have determined states where cryptocurrency has an official status, is at the initial stage of legal regulation or completely prohibited at the state level. The relevance of the research consists in the actual absence of the legal framework for the regulation of cryptocurrencies, which is conditioned by the novelty of this phenomenon and the problems related to its functioning. The authors proposed their own definition of cryptocurrency based on its main features.
The purpose of the paper is to define general trends and approaches to educational reform under the conditions of decentralization in Ukraine. Methodology. The survey is based on the analysis of the development of the regulatory framework of Ukraine for reforming the education sector under the conditions of decentralization. Statistical data on the dynamics of change in the total number of education institutions are studied. The reasons for the decrease in the total number of secondary and vocational education institutions have been identified. The degree of financing of the education sector from the consolidated budget of Ukraine by levels of education is considered. Results. The article outlines general trends and approaches to educational reform under the conditions of decentralization in Ukraine. The problems of the decentralization process, which began in 2014, were emphasized, namely the regional development and unification of territorial communities, which influenced the dynamics of education institutions that gained more autonomy. The dynamics of the total number of education institutions subordinated to the Ministry of Education and Science of Ukraine in terms of educational levels is presented. It is determined that the education sector in Ukraine is in transition, and an important component of this process is the correct choice of the vector of movement, taking into account the interests of all stakeholders. It is determined that the decentralization reform affects mechanisms of management in education. It is established that decentralization for higher education institutions should be considered as a means of forming managerial relations in the industry and joint responsibility for the management of the educational process. The experience of Great Britain and the European Union (Denmark, Spain, Poland, Romania, Finland, France) on improving the quality of educational services by strengthening the motivation of teachers using a differentiated payment system is studied and proposed to introduce into the Ukrainian education system. Practical implications. The possibility of introducing the process of educational / school clustering is considered. It is established that the introduction of decentralization opens the way to changes in creating favorable conditions for the emergence and implementation of intellectual needs of the individual. It is proved that the main task of the government in education in the conditions of decentralization is to coordinate the actions of government agencies, education institutions and the public in order to meet the personal needs of citizens and government demands for intellectual and professional enrichment. Value/originality. In the course of the research perspectives for development of education in Ukraine at the level of territorial communities, the process of formation of new opportunities in education for users of educational services is formed.
The process of transformation of local self-government is connected with solving a complex of problems of its provision. Among them, the constitutional and legal problems of territorial governance, which are the subject of this study, play a significant role. In Ukraine, a course of improvement of Ukrainian unitarism was chosen through widespread decentralization of public power, formation of capable, effective local government on this basis as active interaction and cooperation of subjects, local self-government institutions, executive power, civil society, business environment. This approach actualizes the constitutional and legal discourse of decentralization. The article discusses the issues of constitutional and legislative support for the reform of the territorial organization of power. A constitutional and legal understanding of the decentralization of public power in the context of the provisions of the current Basic Law is given. Modern approaches to amending the Constitution of Ukraine in terms of decentralization of public power, reforming local self-government, and territorial administration are critically analyzed. The novelties of legislative developments concerning territorial governance are considered. The urgency of sectoral decentralization in areas such as local finance, education, health care, social protection, housing and communal services, administrative services, communal land and property, sustainable economic development, human resources, etc. is emphasized. It is noted that, given the principles of constitutionalism, the existing potential of the Constitution should be exploited, the shortcomings of permanent, point-to-point modification overcome, the careful and careful approach to regional level of territorial governance. It is emphasized that the transformation of local self-government in the context of decentralization of public power must be carried out in a comprehensive and systematic manner, taking into account the preservation and strengthening of the unitary nature of Ukraine. Keywords: transformation of local self-government, decentralization of public power, territorial governance, constitutional and legal support of reform, unitary principles of Ukraine.
The paper deals with the experience of reforms of local self-government and administrative and territorial structure in Latvia after its independence was restored. The following components and directions of reform are systematically and elementally studied: organizational and structural aspect; functional transformations; restructuring of the framework of interaction with the central government; problems of financing of powers and formation of local budgets; administrative and territorial division reform; regional development programs; accountability and state supervision. Conclusions have been drawn regarding the feasibility and expediency of using the experience of Latvian local self-government reforms in the context of finalization of the decentralization reform in Ukraine and further reforms in this sector.
The purpose of the work is to determine the main approaches to the organization of accounting and management in a modern enterprise. The study found that blockchain technology supports the invulnerability and independence of the interests of legal entities in relation to the influence of third parties. The introduction of blockchain technology in accounting contributes to the innovative development of the system in the enterprise during the use of cryptocurrency in payments between buyers and customers. The article presents the main risks of using virtual currency. Implementation of modern technologies for the enterprise, such as cloud storage, XBRL technology, blockchain, violates the new requirements for the presentation of business (financial) reporting data and their transfer to stakeholders. Any technology must provide confidence in the representativeness of information and trust in it. The model of carrying out operation between the enterprises by means of cryptoactive assets is offered. The types of risks from the use of certain funds are analyzed. It is
Voznyak, H. V., Savchuk, N., Zherеbylo, І., Skasko, O.
Modern transformational changes occurring in the socio-economic life of countries are conditioned by the evolution of information and communication technologies, the deployment of globalization, decentralization, the strengthening of the openness policy and the increase of efficiency of use and hence the transition from a bureaucratic model of government to a consensus model, a built model. implementation of entrepreneurial management mechanisms in providing social services to the population actualize the need for rethinking and justification the structure of public finance in the new environment. On the basis of systematic analysis, the theoretical aspects of «public finances» are revealed in the article, their structure is substantiated and the necessity of application in scientific circulation as an important dominant of civil society is proved. It is emphasized that the essential characteristics of this definition are revealed by the existence of financial and economic relations between the population, the state, other public institutions and economic entities regarding the formation, distribution, and use of public funds to meet the public needs of the population. It is shown that the structure of public finances is formed by state and local finances, finances of communal enterprises and state corporations, finances of enterprises and organizations of communal ownership, extrabudgetary trust funds and public funds. Among the dominant features of public finances in the context of modern transformations are transparency and imperative character. It has been argued that the vector of public finance reform must continue to be decentralization, which, in addition to the redistribution of resources and powers, should promote the extension of the financial powers of local governments, increase the transparency of both public and local finances, and raise public accountability. the public sector and improving the quality of life of the population.
The use of cryptocurrencies is actively spreading in a lot of countries around the world on the basis of economic and technological progressive development. Cryptocurrency attracts investors to launch the initial coin offering (ISO). Cryptocurrency has important features: it is not controlled by the state, does not require the participation of a third party in the calculations. Cryptocurrency transactions are confidential. However, the lack of legal regulation and a unified approach to determining the economic essence of cryptocurrency makes it difficult to reflect in the accounting.
The author’s scientific and methodological approach to assessing the social effect of public finance management of Ukraine is tested. The object of research is economic relations associated with the formation, distribution and use of state centralized and decentralized funds of bankroll to ensure social justice and human development. The purpose of article is to assess the social effect of public finance management in Ukraine. The trends in certain areas of public life and the effectiveness of the methodical tools used by authorities were determined as a result of evaluation. During the study, the methods of statistical analysis, formalization, comparison, standardization, generalization, as well as ball, graphical, tabular, systemic and other methods are used. The list of indicators of the social effect of public financial management and their normative values is given. The dynamics of the stratification of society and the share of state funding of social institutions in GDP, taking into account transfers from the State budget of Ukraine, are visualized. Formulas for calculating synthetic indicators and social effect are developed. The trends of both individual components and integral indicator of the social effect of public finance management of Ukraine for 2009–2018 are determined. Analysis of social effect indicators that characterize the state of educational and health care institutions development, made it possible to establish the need to improve the methodological tools for public finance management. It seems that at the stage of macro-financial planning, other sources of financing for individual social institutions than the state budget may be provided. In order to improve the social effect of public finance management, it is proposed to use budget lending as a tool for the development of relevant public institutions. Proposals on the need for medical reform, which provide for health insurance implementation in Ukraine, are given. With the aim of training a competitive specialist in accordance with the country’s development priorities is proposed to carrying out an educational reform. The implementation of the proposed measures will help to increase the level of satisfaction of public interests
The article deals with the social and economic development of rural areas as an important component of social and regional policy. It is noted that in the terms of a transformational economy, it should be based on new principles of organizational support and financing, support for integrated rural development, attracting investment resources, based on the needs of the rural population. It is determined that one of the main causes of the crisis in the Ukrainian countryside is the loss of state control over the processes of socio-economic development of rural areas. It is investigated that the most important precondition for overcoming the crisis is the creation of an effective system of state regulation in the rural sector of Ukraine. The formation of self-sufficient (in particular in financial terms) territorial communities of rural areas is proposed is one of the ways of socio-economic development of rural areas. It is analyzed that the state policy of Ukraine in the field of local self-government is based on the interests of residents of territorial communities and provides for decentralization of power, i.e. transfer of large amounts of power, resources and responsibilities from local governments to local authorities. This policy is based on the provisions of the European Charter of Local Self-Government and the best world standards of public relations. The focus of research is state regulation of rural development processes – the main priority of public policy in the vector of European integration of Ukraine's foreign policy. Increasing the importance of solving the problems of rural areas requires a change of state orientation in the direction of increasing the investment attractiveness of rural areas, introduction of structural adjustment of rural economic infrastructure to balanced multifunctional development, formation of organizational and economic tool for risk management and safety of rural development. It is established that one of the main conditions for the effective functioning of local budgets is to ensure the formation of sufficient financial resources for their independence and autonomy in order to meet the needs of the rural population.