Authors : Anna Anatolyevna Borisova, Inessa Makedonovna Kalyakina and Nadejda Yurevna Bondarenko
Abstract: Effective use of public funds assumes comparison of expenses and results of public financing programs. It should be noted that the assessment and comparison of expenses and results are necessary for preparation of reasonable decisions not only in state but also in private business sector. In both cases, the following factors should be defined as precisely and completely as possible: Firstly, all possible types of costs; secondly, a range of consequences caused by the costs; thirdly, the economic measuring instruments, allowing to estimate various elements of expenses and results in the single scale; fourthly, pure return, i.e., a difference between outcome and expenses. The business sector starts with the private interests of investors and the state sector from the common interests of citizens (taxpayers).
Anna Anatolyevna Borisova, Inessa Makedonovna Kalyakina and Nadejda Yurevna Bondarenko, 2014. Development of Methods of the Solution of Management Problems in Social and Economic Systems. International Business Management, 8: 348-352.