The article describes the logic of solving the main financial and production task of managing the development of industrial corporations and provides the practical approaches to the application of this solution. The existing academic theoretical approaches disclose the logic of increasing the rates of financial and industrial growth of the industrial corporation profit but they are not appropriate for the development of the methodology for meaningful practical solution of the mentioned financial and production problem. The author shows that this problem is soluble on the basis of equilibrium theory of an industrial corporation. The article reflects the principles of static, dynamic and compositional theories of equilibrium theory of an industrial corporation. It compares the logic of a modern theory of CVP-analysis with the logic of the equilibrium theory, focuses on the economic essence of these theories’ application and identifies the main practical mistake of such an application. The article provides the basis for the practical application of these theories to increase the rate of financial and production growth and maximize the profits of industrial corporations. The practical applicability of the theory is verified at a number of large Russian corporations including some big enterprises of the defense industry.

The subject of the study is the analysis of existing methodological problems in the organization and maintenance of separate accounting of costs and output of military products in accordance with the state defense procurement (SDP). The same requirement applies to the production, sales, purchase of goods and services for Federal needs by certain legal entities. The transition of the defense industrial complex (DIC) enterprises to the digital economy platform requires the improvement of the quality of financial information based on the introduction of uniform methodological principles for maintaining separate accounting of income and expenditure and generating financial results. The purpose of the article is to provide methodological assistance to the management of enterprises of the defense industrial complex (DIC) in the organization and maintenance of separate accounting of income and expenses, as well as the formation of financial results by products for each contract. It is proved that to perform the tasks on the state defense procurement it is necessary to maintain separate accounting of fixed assets, material and production resources, accounts receivable and accounts payable and other assets.

The article researches the problems related to the improvement of the efficiency of developing a system of activity based cost accounting and analysis at an enterprise based on a number of important factors. The first factor involves the organization of the accurate accounting of the most significant costs. The ABC model on the basis of the key costs will simplify the development of the system of cost accounting and make it possible to quickly modify its configuration in line with changes in economic and production environment conditions. The next factor implies the strict separation between the methods of analysis and modeling applied within the framework of a process management system and a system of activity based cost accounting and analysis. It helps to eliminate the errors connected with using wrong data as an information base for accounting. The third factor is using the data generated by information systems of an enterprise to calculate costs. The authors identify the information necessary to organize the activity based costing and determine within which kind of the information systems (ERP-system, EAM-system, etc.) it is formed. The use of this information will allow the enterprise to automate the cost calculation procedure and eliminate the additional work of data collection. The results of the analysis of these factors are the recommendations formulated by the authors to improve the efficiency of creation of activity based cost accounting and analysis system at an enterprise.

In the digital economy, the strengthening of the role of socially oriented non-profit organisations (NPOs) in addressing issues related to the harmonization of the social and economic aspects of society development, cannot be achieved without refocusing accounting on the solution of strategic tasks. An important tool of strategic planning and accounting in order to attract and monitor the use of earmarked funds — is budgeting, which had not been adequately reflected in the accounting activities of socially oriented NPOs. The organization of budgeting system in socially oriented non-profit organizations is based on the following characteristics: the problem of selection of calculation units; a high level of uncertainty of a profitable part of the budget, which is financed by revenues from basic and associate activities; the social orientation of the non-profit organizations, which defines the enhanced responsibility for performance and requires the clarification of the concept of operations results in itself. In the socially oriented NPO, the use of the result-oriented budgeting model, in which the expenditure of trust funds is administered in accordance with the principle of centralization on the one hand, and on the other hand, the objectives are achieved on the basis of the principles of decentralization, ensures planning, execution and monitoring of budget expenditures in direct connection with the specified, and achievable results. Under this model, the mobile annual budgets with a step equal to one month’s budgeting are used. Budget performance analysis aims to assess the quality of socially oriented non-profit organizations’ performance, which have a double-sided nature: on the one hand, the Organization’s efforts are evaluated, and on the other hand, the task force is evaluated. The effect of earmarked funds’ use becomes visible in subsequent reporting periods and is determined with regard to socially oriented NPOs within the society.

With the methodological development of cost accounting, there is a transition from the spatial plane of cost grouping, which has traditionally been considered as a “functional” one, to the process evaluation. At the same time, the development of the concept of Functional-Based Costing is making a transition today from grouping costs based on structural units of an enterprise to an integral system of cost accounting methods, based on generalized functional areas of economic processes (such as automation, HR, transport logistics, R&D, compliance etc.). In the economy of an enterprise, they include a much wider range of processes rather than just the work of a specialized structural unit of that enterprise. In contrast to the previously developed costing techniques, which predominantly consisted of the new methods of cost analysis, Functional-Based Costing is not an alternative direction in management accounting methodology but is a synthetic framework that allows to integrate the results of other costing approaches that are already known and researched to date. At the same time, the functional unity of processes and resources allows us to consider the development of the approach both in the context of further dissemination of Resource Consumption Accounting as well as in the context of the development of Life Cycle Costing.

In financial and economic activity, quite often there are situations when financial schemes using different assets are used for the purpose of obtaining economic profit. In this study, we develop a special accounting procedure for hedging under IFRS, in which special attention is paid to accounting algorithms in the interim revaluation of the components of the financial scheme, which is often presented in the activities of financial and banking institutions. The algorithms use various revaluation concepts adopted in IFRS, in particular the concepts of amortized cost and fair value. These algorithms are based on the proposed mathematical methods of evaluation of financial instruments of different genesis: credit financial resources, currency financial instruments and derivatives of forward type. At the same time, the proposed approaches and methods can also be used in the preparation of reporting separately for accounting purposes.

The article is devoted to the advantages and disadvantages of debt instruments to finance government needs. This topic is relevant because the current economic situation in conjunction with the tasks of breakthrough development requires a sufficient level of sustainability of public finance. To substantiate in detail the possibility of using public debt the article describes the basic peculiarities of budgeting mechanism: what a budget is, its revenue and expenditure, effective budget balancing in case of budget deficit. Within the given framework, the author focuses on the essence of public debt and borrowing, determines their place in the budgeting mechanism, reviews foreign experience and identifies advantages and disadvantages of this tool which makes it possible to assess the necessity of applying this mechanism. The conclusion is made that using public borrowing is appropriate because it provides an opportunity for budget maneuvering and helps to mitigate negative consequences of economic shocks but it is necessary to take into account the current economic situation along with the risks of financial stability, thus to conduct a balanced debt policy.

The correct assessment of the current level of development of the analysis of financial and economic activities of enterprises and the influence of its theory and science on analytical practice largely depends on the knowledge of the history of its origin and formation. In the specialized literature the history is considered very rarely, and some important sources are not taken into account. The research was carried out by the author in 2015–2017. Wherein there were used general scientific methods of cognition, methods of special economic sciences and foreign professional literature. The earlier unknown paper on economic analysis — “A Brief Review of the Perm Industrial Complex for the years 1924–1925 and 1925–1926” was critically studied and evaluated, and also quite fully presented to a wide circle of readers and specialists. The content and methodology of the analysis (that was carried out more than 90 years ago) of fixed and working capital, depreciation charges, bank loans, profits and losses, capital works, production program, labor, wages, labor productivity, quality, cost and sales of products, overhead costs, trade and procuring activity, sales markets, selling prices, etc. was disclosed. A number of conclusions regarding the evolution of the analysis of economic activity have been made, as well as suggestions for its further improvement in the current conditions of market economy management and standardization of analytical processes.

The article deals with the problem of lack of due attention to the risk of laundering illegal income when assessing the borrower’s credit risk and provides the analysis of the use of procedures in the management of credit risk by banks in order to counter the legalization of illegal income. The author substantiates the use of the results of assessing the money laundering risk in the assessment of the borrower’s creditworthiness. A hypothesis about the influence of the turnover ratio of the stocks of a commercial enterprise on making doubtful and suspicious operations by the client is generated. The author proves that the inventory turnover ratio can be used as a sign of the organization’s involvement in the laundering of illegal revenues when analyzing the borrower’s creditworthiness if the borrower is engaged in wholesale business. Improving the quality of the borrower’s creditworthiness is an important direction in ensuring the stability of the banking sector and the economy as a whole. The proposals presented in the article are practically oriented and require further development.