Financial regulation of the cultural sphere in Ukraine

Анотація

Introduction. Financial regulation of the cultural sphere determines the mechanism for distributing and using financial resources, which ensures effective financing of economic entities and contributes to the development of the industry as a whole. The impact of budgetary and extra-budgetary financing on the cultural sphere provides for its development through the provision of high-quality cultural services and the creation of a high-quality cultural product. Problem Statement. To ensure high quality and dynamics of the development of the cultural sphere in Ukraine, it is necessary to form an effective system of its financial regulation, aimed at effective management of financial and economic transformations and improvement of institutional support. The purpose is to determine the directions of effective financial regulation of economic entities in the cultural sphere and develop proposals for improving their activities in order to ensure the development of the industry as a whole. Methods. Methods of analysis and abstraction, abstract-logical method were used. Results. An analysis of regulatory legal acts regulating the activities of economic entities in the cultural sphere was carried out. An important tool for financial regulation of this sphere of culture is a properly compiled estimate (budget) of the basic network of cultural institutions, which is developed taking into account the tasks stipulated by the functional responsibilities of the sphere, to regulate the formation and use of financial resources by state authorities or local self-government bodies, and its components - income and expenses - determine the volume of resources and directions of their use. An essential component of financial regulation is control over the efficiency and expediency of the use of cash flows. The possibilities of financial regulation of the development of the sphere of culture through audit and financial control are also analyzed. In particular, attention is paid to the potential of regulation through the analysis of financial reporting and the application of methods for calculating property assessment indicators. Conclusions. To ensure effective financial regulation of the development of the sphere of culture in Ukraine, it is necessary to assess the financial condition of business entities through the analysis of financial reporting. Regulation should be carried out with the implementation of marketing research, through effective management of financial flows, ensuring transparency in the use of funds and analyzing the achievement of the goals of individual business entities in the sphere of culture and the entire industry as a whole.

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