The Modern Approach to Forming the Conception of Functions of Finance

The aim of the work is to demonstrate a new approach to the formation of the concept of functions of the financial system. This approach consists in a clear definition of the purpose of the conception of financial functions and the corresponding interpretation of the concept of “financial function”, the development of multi-attribute classification of these functions, as well as examples of its use to implement the purpose of the conception of financial functions. An important methodological technique of this study is the harmonization of the conception of financial functions with the conception of functions of credit, which is considered part of finance. As a result of the study it was found that the purpose of the conception of financial functions is to demonstrate to society the diverse benefits of finance, the function of finance has been interpreted as an element of public benefit from finance, a classification of financial functions on the most significant grounds and examples of construction on its basis of species and varieties of financial functions were developed. The approach to the formation of the conception of financial functions, demonstrated by the authors, is intended to replace the traditional approach, in which the functions of finance are allocated in one row without specifying the signs of their allocation, to turn the discussion about the functions of finance into a constructive channel, consisting in the allocation of additional essential signs of the functions of finance, the complete and detailed allocation of the types of functions by individual grounds and the formation of examples of construction on the basis of the appropriate classification of various species and varieties of financial functions.