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Optional form of banking transfers in production market

English

Growth of capital requires some kind of money capable of intermittently serving flow of current assets. It is recommended to use transferable right of ownership to money (assets) in the bank instead of non-transferable financial obligation (liability) of the bank. Form of accounting reflects the essence of relations which are established between the parties. It is necessary to eliminate forceful credit relations for a producer in his relations with the bank by its debt paper to determine who and how much has loaned the paper`s issuer. Thus industrial relations represent an exchange of means of production to money that reflects the assets of the issuer of money means.

The source of monetary capital in production is connected with distribution of national income and consumption level. For accounting it is suggested to use the asset created by a producer of goods. This will stimulate development of production relations on the basis of cooperation of manufacturers to obtain this kind of money asset. Production relations create money capital as a right to request payment for final production goods.

 We will further show how the banking assets reflect money rights of producers. The right of ownership to a certain amount of money at the issuer`s bank is reflected by the bank`s executive book-entry (certificate). The issuing bank of this certificate is a payer in a contract of delivery of final goods to its client and the owner of money received from selling goods to consumers, thus the bank account is credited. Emission of the certificate is executed with the aim to pay producers for the final goods and is corresponded with the bank account of the purchaser of the final goods by writing off the amount of their cost. Emission of the certificate reflects money rights of the sellers of final goods. The bank`s certificate reflects a combination of two assets: one is the bank`s reserve and the other – right to money created by producers.

Essentially the issuing bank takes upon itself the central bank’ functions for the participants – producers of final goods because accounting is done by money means issued by the bank. However the issuing bank`s relations with the certificate owner are not credit relations, the bank`s role is to hold the assets of the owner of this certificate. In order to serve the turnover of the certificate the issuing bank should keep the “Banking Certificate” register for the depositaries of the executing banks that act as nominal holders of this certificate.

The certificate serves the turnover of final goods’ means of production and produces income from the turnover for the bank. At the end of the turnover when the final goods are being sold and paid for, the certificate is exchanged for the financial obligation of the issuing bank in the amount of the current (one-month period) expenses on the added value and on the taxes of the owner of the certificate. These expenses have a regular character and serve the consumer market.

Accounting by certificate in production sector distributes the cost of final goods among consumers. Payment received by the bank for the final goods is being directed by the bank to the payers for these final goods after the cost has been distributed among the consumers. The issuing bank acts both as a payer and payee for the final goods. As a result final accountings are being made only between banks – issuers of the certificate as they are obliged to pay themselves. 

The right to claim payment for delivery of final goods is created by a consolidated labor of producers. This is the motivation for cooperation among the producers. The added value of each participant of production represents a share of right of monetary claim (income from selling final goods).

The issuing bank may be any bank that acts as a payer by certificate for final goods. The name of this issuing bank is impersonalized for the owner of certificate because the depositary registers the certificates of different issuing banks on one depositary account. This allows the owner of the depositary account to pay by certificate for any means of production of final goods, and not only for those for which the certificate has been received.

Accounting by impersonal and divisible certificate allows the issuing bank not to spend money to cover production relations. If money (in the form of Central Bank banknote) won`t be spent in consumer market the executive bank may use a banking card to pay for the value-added expenses of the certificate holder, excluding taxes. If the payment for the final goods is made by a card that is by executive bank’s debt, it is possible to make a set-off between the executive and the issuing banks.

The accounting system allows to square money quantity and amount of trade relations which positively results on macroeconomic figures of employment and prices. The turnover becomes the bank`s capital which gains income thus stimulating the bank to increase it. Banks’ financial stability is based on further merging the banks with real economic sector and limits finances` emission to serve exclusively consumer market. The exchange of financial obligation on the bank`s depositary obligation results in reduction of the bank`s monetary debts in the amount of production turnover. The bank reserve (assets) is left in the bank – issuer of the certificate. Change of structure of the banking liabilities accompanied by keeping the bank’s primary reserve (assets) eliminates the banking crisis.     

The operational system of accounting has been prepared as a regulatory Statement which describes the parties` relations, documents that are being used, and the book-keeping.