Sochi Journal of Economy

258-267

Authors: Valerii D. Andreev

The article discusses the essence of risk-based audit of financial statements, the most significant risks arising in its preparation. The article discloses the risk factors, methods of falsifying of financial statements, financial indicators as a tool to detect fraud. The article gives the stages, the main tasks and procedures of a risk-based audit of financial statements. The authors conclude that the risks of falsification of financial statements are the common type of economic crime. It requires the development of methods of its auditing and using IAS. The development of an algorithm of risk-based audit, the sequence of audit actions that take into account ways of falsifying financial statements are of great importance. It is necessary to define the main directions of the risk-based audit of the most important forms of financial reportingin determining the appropriate level of its distortions, affecting the financial condition, identifying the circumstances and risk conditions, signs of possible fraud.

276-281

Authors: Kristina A. Lakerbaya, Boris A. Ermakov

This article, on the basis of the official data provided by the State Statistical Office of the Republic of Abkhazia, analyses the tourist flow dynamics in comparison with the Krasnodar region (KR) in general and with the resort city of Sochi in particular within the period of 2009-2017. This time interval is the most notable one for identifying the factors that influence the size and structure of domestic and inbound tourist flows, because it includes the period of preparations for the XXII Olympic Winter Games and XI Paralympic Winter Games of 2014, the Olympic and post-Olympic periods, as well as the time interval after the economic sanctions against Russia were imposed and the beach holiday destinations, popular in Russia, such as Egypt and Turkey, were closed. Based on this analysis the article concludes that sustained tourist flow in the Republic of Abkhazia with the positive dynamics of its development is possible only in case the accommodation pricing policy is adjusted towards a significant reduction, and a high level of service and security in the hospitality areas is ensured.

295-301

Authors: Mikhail M. Morozov

In the conditions of the digital economy, new principles of information support and management of tourism are being formed, which requires improving the information support of the tourist business as a subsystem of the information society. The article considers information and communication technologies used in tourism and based on Internet technologies. The basic directions of application of Internet technologies for promotion of tourist products, enterprises of the tourism industry and tourist destinations are described. A study was made of the specifics of the application of Internet technologies, taking into account the information and communication goals set.

311-315

Authors: Matvei S. Oborin, Tat'yana E. Gvarliani

The resort and recreation complex has now received a dynamic development momentum, however, there are a number of negative trends in its development, which are revealed and reflected in this article. The efficiency of management of sanatorium-resort services in the work is assessed on the basis of the results of the financial and economic activities of SROfor the North-West federal district. The solution of problems is considered taking into account the system approach to management. The authors state that an important aspect of improving the quality of management is the formation of a risk management system that will allow to identificate timely the negative impact factors, to evaluate the effect of using indicators.This will help to budget reasonably, identify the necessary amounts of financial resources that are necessary for enterprises of SRO, create funds and reserves.

322-332

Authors: Nelli A. Savel'eva, Ekaterina N. Krest'yaninova

In the article the authors present a detailed analysis of socio-economic factors in the development of organizational culture of the enterprise. There are given the characteristics of organizational culture as a socio-economic phenomenon. The author's definition of organizational culture of departments of the enterprise in the system of conflict resolution management is given. There are analyzed the existing definitions of organizational culture and evolution studies of this phenomenon, highlighted 4 main stages in its development. In the scientific literature, organizational culture is considered as a factor in the development of the organization, a tool for managing organizational change, a factor of effective personnel management. However, despite the rather wide interest of the authors to the problem of the development of organizational culture, in practice to date, the management of enterprises does not pay due attention to the formation and development of organizational culture. The level of development of organizational culture directly determines the efficiency of enterprises. In turn, the development of organizational culture is influenced by a number of factors: political, religious, social, cultural and economic. The managers of the enterprise and its separate subdivisions are required to produce an in-depth analysis of these factors and respond to changes in the internal and external environment of the organization for effective management of organizational culture. This circumstance determined the relevance of the topic of the study.

341-351

Authors: David Umoru, Sylvester Ohiomu

This study examines the inter-relationship between money supply and investment volatility in Nigeria using a restricted VAR model. With estimated VAR object of class “varest”, a restricted VAR was estimated by choosing scheme“ser”. In which circumstance, we re-estimated each equation distinctly with provision of our t-values in absolute value below the threshold value regulated by the function's argument thresh. The core condition that generated was that our variables are co-integrated. From economic view, joint dynamics of our variables that was embodied in the restricted VAR model makes the operational form a depiction of the underlying, structural plus economic relationships. In consequence, our variables contemporaneously impacted each other and error terms became uncorrelated economic shocks which drive the dynamics of our economic variables and hence implicitly implies zero correlation between stochastic disturbances as a preferred property. Empirically, our study reveals that the disturbance to broad money supply causes volatility in aggregate investment. The outcome of the study indicates unpredictable effects of shocks in money supply. The ‘monetary authorities’ should target broad money supply in executing monetary policy in Nigeria and the Federal government should pay heed to investment drives and interest rate management in order to advance the activities of the real sector in Nigeria.

154-161

Authors: Boris A. Ermakov

This article analyzes the tourist flow volume and structure in the Krasnodar Region (KR) for the period 2010-2016 on the basis of the official statistical data. This time span includes pre-Olympic, Olympic and post-Olympic periods and is illustrative for identifying the factors that influence the tourist flow. According to the author, it now requires adequate interpretation that could serve a basis for shaping more subtle assessment of the tourism industry development trends in the region.

167-173

Authors: Nadezhda A. Keschyan, Anna O. Balabanova

The article considers the current problems of vocational guidance in education, in municipal institutions of secondary education and higher education. Also explores the concept of networking, its importance and need, describes the modern forms of networking. The special attention is paid to the support of networking development at the state level, the areas of networking support in government programs, the development prospects of forms of networking in the future. There is studied the experience of network interaction between educational institutions of secondary education and universities. The main forms of interaction are provided to improve the quality of professional orientation of young people, available and implemented in practice. For the development and improvement of quality of vocational orientation of young people, methods and tools which are used for these purposes should be modern, clear and close for young people. In conclusion the authors proposed the modern directions for improving the network interaction between educational institutions of secondary education and universities.

181-186

Authors: Olga V. Konanykhina, Tatyana P. Levchenko

The newest global trends in development of tourism in many respects are defined by the concept of stability of his development. Now more and more obvious are questions connected with transition of the sphere of tourism to a way of sustainable development. Practice has shown that the fast and insufficiently controlled growth of the tourist sphere which puts as one of is more whole fast receiving economic benefits, in many respects leads to negative consequences as results in damage of the environment and destruction of the basis which controls functionality and success of development of tourism. Sustainability issues any socio-economic system, which applies fully and tourism, is extremely systematic and multicriterion nature as development strategies should be a whole space based on multiple levels-global, national, territorial, municipal, cluster, local and many others. To date, created quite a number of conceptual approaches to the calculation of the level of sustainable development. However, a number of critical issues methodological and statistical purposes, the complexity in identifying and calculating, resulted in a single universal integral indicator simply does not exist. It is very difficult to combine in one method of different socio-economic systems (countries, regions), because each of them has its own specific priorities and disparate problems. Today, many international system of indicators include not fully aggregated indicators for sustainable development on a number of issues, they often represent a multicomponent system that is quite complicated in practical application. However, positive moments of both approaches is the fact that the theory and practice of submitted studies on sustainable development of tourism defines a system of indicators and indicators for assessing sustainability based on dynamics, that allows you to reflect the long-term world economic trends.

192-198

Authors: Dmitry Y. Kulishkin, Yuri I. Verbin

The impact of the Olympic legacy may have a dual nature that gives rise to scientific controversy in the assessment. The article considers the actual problems of influence of the Olympic legacy in host cities and issues of an estimation of its contribution to socio-economic development of tourist areas. There was expanded and added the well-established in scientific practice the approach to undertaking the research in the area of effect on the host territory of the Olympic legacy. The indicators of the evaluation of the contribution of the Olympic heritage to the development of the tourist territory are reflected and the value of the integral indicator is disclosed. The article gives the example of scenario planning which helps to identify the opportunities and prospects of development of the territory based on the influence the Olympic legacy, as well as smooth of the negative aspects of such influence.

205-214

Authors: Natalya S. Morozova, Daria D. Makarova

There is the high level of the tourist potential for organizing tourism activities and developing tourism in the Russian Federation. We can note the positive dynamics of the development of the tourist regions of the Russian Federation. Many territorial entities of the Russian Federation are not ready to accept tourists for various reasons: the lack of the comfortable living conditions, the higher cost of the tourist services and the transportation services and many others problems. The sphere of tourism is at the stage of the modernization in the Russian Federation. There are implementing the tourism development programs at the federal and regional levels. This program is to ensure the development of the tourism, to improve the quality and cost-effectiveness of tourism activities. It is planned to improve the organization of tourist activities in the tourist regions of the Russian Federation in accordance to the concept of the federal program "Development of domestic and incoming tourism in the Russian Federation in 2019-2025 years. There is the compliance with the tourism infrastructure of the territorial formations of the tourist flows that an important condition for improving the economic efficiency of sphere of the tourism. There is the degree of balance between tourist flows and the tourist infrastructure of the tourist regional since this ratio depends on the quality of the tourism services and satisfaction of tourists.

223-232

Authors: Svetlana I. Pustovoytenko

At the basis of successful development of tourist business in many economically developed countries of the world (Germany, Austria, Switzerland) lies the systematic and interdisciplinary nature of tourism research. The article provides a brief overview of the existing approaches to studying the structural components of the tourism system in order to determine the positive and negative factors of its development. Tourism is seen as a system, each component of which can be identified and studied. You can analyze a single aspect (for example, tourism economics, sociology of tourism, tourism pedagogy, insurance, medicine in tourism, etc.), limited to tourism as a sphere of activity. It is necessary, in our opinion, to analyze the cause-effect relations of interaction between all aspects of the tourism industry. To systematize the factors of the positive and negative impact of tourism on the development of recreational areas, on the economy of the country, on the solution of the basic social task of tourism is the recreation of the population of the country. The aspect of the systematic and interdisciplinary nature of research should be taken into account in theoretical developments in the field of tourism. The main result of theoretical developments is the offer on the tourist services market of a quality tourist product that is safe and accessible to all categories of the population and does not damage the recreational area and significantly replenishes its budget. The formation of specialized tourist funds is proposed, the funds from which can be used to develop a quality system in domestic tourism. The creation of a theoretical base for the development of tourism in the most economically developed countries of the world seems to be topical, which can form the basis for successful business development in the tourism industry, the development of the domestic tourism policy, and strategic and tactical tourism development plans. However, currently negative factors of tourism development continue to act, which need to be analyzed, identified, accounted for, neutralized or minimized in time. In 2017, the bankruptcy of domestic tour operators continues. The need to establish a mechanism to protect domestic producers, in this case, producers of tourist services – Russian tour operators and domestic tourism products from the absorbing activity of global international tourist concerns, is underlined. The methodological approaches used in the article are based on general scientific methods: comparison, generalization, analysis, synthesis, system analysis, analogy method. The provisions of the article can be used in the theory and practice of tourist activities.

240-246

Authors: David Umoru, Efosa Osayamen A. Evbuomwan

The paper analyses link between external reserves and oil prices using unrestricted VAR estimation from 1996 to 2016. The results reveal that movement in oil prices deteriorates reserves level and causes deep fluctuations in government expenditure in Nigeria. However, such effect on foreign reserves is rather delayed and more prominent on the long-run. At any rate the price of oil, Nigeria’s battle with propensity of foreign reserves may end up an exercise in vainness except the nation diversify from one foremost source of funding, oil. Based on findings, we recommend need for Nigeria to devise additional basis of revenue.

82-89

Authors: Valerii D. Andreev

The article reveals the role of internal control and audit in the system of ensuring the economic safety of the enterprise and the basic directions of improvement of their methodology.The study shows that the economic security in its activities is largely based on information and practices of internal control and internal audit. The indicators of economic security, threshold values can be obtained, and activities are designed with participation of specialists of these services. The establishment of effective internal control that ensures the achievement of economic security is complex managerial task, which can only be solved by consolidated efforts of the management and services of the economic entity. This requires the integration of the methods of work of internal control and internal audit, economic security services.

94-98

Authors: Clémence Barthélémy

This article is dedicated to the cooperation between Russia and France in the field of tourism and culture, which is indispensable part of the modern economy. The Franco-Russian Intercultural cross year, on our mind, stimulates great advantages to strengthen economies and cultural maters of both countries. Nowadays, such event is an effective way to promote bounds between people of different cultures and set aside political disagreements. Cultural and scientific events are organized in both countries and one of main ideas is to promote discovering of different visions on cultural and economic events in both countries. We think that such event is very important because it helps visitors to make quite vision and provide more understanding of the another country, foremost it is needed for people who do not have a chance to travel abroad. Cross year leads to promote tolerance, arts, science, literature, history and the most important it helps to make clear vision of the future of the world.

107-115

Authors: Muhammad Idrees, Aneel Salman, Nedim Makarevic

This paper examines the economic and political twist of reliance of Pak-China Economic Corridor (CPEC). It explores the political and economic imperative of CPEC particularly for both countries and generally for south Asia. It also examines the incentives of trade Via Gawader to its counterpart Chahbahar port. Further the paper develops four possible scenarios to assess the coincident of economic and political pragmatism of the project on the region. We find that CPEC provides an opportunity to twist inter economic, political and social integration among Pakistan, China, India, Afghanistan and Iran and intra socio-economic and political ties with central Asia and Middle East. However, the optimal utilization and its repercussion effects on the region depend on Pak-China policies, the behavior of neighbor countries toward CPEC, role of international players and comparative advantage of Gwadar vs Chahbahar. The most desired effects could be obtained by using the project for highly economic purpose.

124-137

Authors: Elena V. Onishchenko

The UN General Assembly has declared 2017 as the International year of sustainable tourism development. One of the main components that affect the processes of sustainability of the tourism sector of the economy, both abroad and in Russia, is the regional factor. The article is devoted research of preconditions for the sustainable reproduction of regional tourism products affects the reasons hindering the formation of necessary system of management of the tourist sector of the Russian economy at the regional level. The author carries out the analysis economic, welfare and ecological prerequisites of emergence of the concept of steady reproduction of regional tourist's products, as new direction in the modern theory of tourism.

145-150

Authors: Galina V. Vorontsova, Alina V. Shcherbakova

The article determines the theoretical and practical significance of the branding of the territory and the features of its formation in modern conditions. The marketing tools and technologies necessary for branding the territory are considered. The role of effective branding in increasing the marketing potential of the territory is shown. Approaches to brand formation are considered on the example of one of the Russian regions – the Stavropol Territory. The recommended approaches to the assessment of the attractiveness of the Stavropol Territory were determined, recommendations for positioning the Stavropol Territory among other subjects of the Russian Federation were developed, and the main theoretical and methodological approaches to the branding of the analyzed territory, reflecting its strengths and allowing the most effective use of available opportunities.