The relevance of studying venture capital investment in investment activities is largely due to the fact that the procedure for raising funds in this case involves special methods and format for raising funds. Hence, it necessary to mention that the issue of increasing competitiveness in Russia is largely based on the formation of more favorable conditions for venture capital raising. Returning to reality, we note the fact that in the Russian economy, in contrast to the existing opportunities for innovative businesses to use capital through venture investment, there are a number of limitations that significantly complicate this mechanism. Such restrictions are due to both legislation and the specifics of the Russian economy. The latter includes, in particular, the issue of distrust of the venture capital market as a whole. Thus, these problems do not provide full opportunities for the development of both the venture capital market and innovation. The latter is not developing mostly because innovation largely correlates with venture capital raising tools. These problems make it important and significant for Russia to develop an effective mechanism for managing venture capital investments, which is especially important for the development of innovation in the Russian economy. Therefore, venture capital mechanisms for attracting capital for the development of innovations in Russia should be adapted taking into account the development of the Russian economy. The article examines the key problems of the development of the venture industry, presents the features of its formation in different time frames. Measures to improve the institutional regulation of the venture capital market in modern conditions are proposed.

The study examines the development prospects of regional banks using the retail credit market as an example. Based on statistical data from recent years, the current market positions of regional banks in the context of the credit market were determined. It is noted that the reason for maintaining a positive financial result of local banks was an increase in the share of loan portfolios in their total assets. This trend is determined by the actualization of the key advantages of regional banks within the framework of a personalized approach to the demand for credit products in the context of sanctions pressure on large credit institutions. The article focuses on the fact that the total share of regional banks in the credit market of both retail and corporate lending remains low in the context of competition with federal banks. To determine the main factors influencing retail lending of the regional bank, a correlation and regression analysis of the retail loan portfolio of JSC “BANK ORENBURG” was conducted. Based on the results obtained, it is substantiated that the regional bank has the potential to expand the boundaries of the credit business in the context of deteriorating economic conditions while maintaining an adequate level of credit risk of the retail loan portfolio. The author raises the issue of the need to support the business model of “local” banks in order to increase competition and the quality of credit products in the market, including in the absence of negative foreign economic factors.

Financial science is relatively young, originated at the end of the 19^th century. In Russia, it developed on the basis of three Russian universities, including the Kazan University. The article presents the stages of its development. The first book was published in 1841 by Doctor of Philosophy, full professor of political economy and statistics at the Imperial Kazan University I.Ya. Gorlov. The second stage of the development of this science falls on the period of the USSR, in particular, it begins with the creation of the Kazan Institute of Finance and Economics, and the third stage begins in the 1990s. The article presents all the financiers who have worked and are working both at the Kazan Institute of Finance and Economics and at the now Kazan (Volga Region) Federal University, who have made a significant contribution to the development of financial science.

In recent years, research on household financial behavior has attracted increasing attention from the academic community. Household financial behavior studies how households use the financial instruments available to them to achieve their goals and increase their wealth. Particular attention is paid to the errors that households make in constructing asset portfolios and the influence of financial systems and individual characteristics on the extent of these errors. The article focuses on an international comparison of households’ financial behavior with a focus on financial and non-financial asset ownership. The study reveals key differences in the levels of financial and non-financial asset ownership between Russia, Eurozone countries and the United States. The main emphasis is placed on the dominance of bank accounts as a basic financial instrument, low involvement of Russian households in pension and insurance programs, and weak investment activity in the securities market. It also analyzes the importance of non-financial assets, such as real estate, which is purchased in addition to the main dwelling and used as a source of additional income. It highlights the influence of institutional, economic and cultural factors on financial behavior, and points to the need to improve financial literacy, availability of long-term investment products and trust in financial institutions to strengthen the economic sustainability of households.

The activities of Russian organizations in modern conditions are subject to significant risks, primarily due to external factors associated with geopolitical tension, the introduction of economic sanctions, loss of markets for products, import restrictions, volatility in stock and currency markets, etc. In addition, there are internal risks leading to a decrease in production and sales volumes, an increase in the cost of acquiring resources, production and sales of products. In these circumstances, the disclosure of public information on business risks in the notes to the accounting statements is a very important task. The use of such data will allow users of reporting to make appropriate decisions on risk management and risk reduction. The article presents the results of the study of the current state of disclosure of data on risks in the individual reporting of 55 organizations of different spheres of activity for the 2023 reporting year. It is concluded that organizations do not pay due attention to the disclosure of data on risks of activity. Such information is not presented in the explanatory notes to the statements of 23 organizations out of 55 organizations under study. It is proved that the composition of risks given in the reports of different organizations is very heterogeneous, various approaches to the classification of risks are used. A unified classification of risks with division into categories and subcategories, their description and reflection of risk management mechanisms is proposed. For the purposes of increasing the level of transparency of reporting, non-financial risks (sanctions, industry, ESG-risk, IT-risk, etc.) are allocated in separate categories. 

The modern competitive environment characteristic of the dairy industry market encourages enterprises to enhance management efficiency and minimize potential risks associated with key business processes. The article examines aspects of risk management systems and internal control of dairy industry enterprises in relation to external audits. Using the example of end-to-end business processes such as “from potential opportunity to payment”, “taxation” and “asset management”, the main risk indicators, risk events, and control procedures aimed at addressing the prerequisites for distortion of financial (accounting) reporting are studied.

In this research, within the “from potential opportunity to payment” business process, risks are identified in accordance with ISO 31000/2019 at every stage of the business process, which allows minimizing the probability of cash gaps and issues with the recovery of accounts receivable. Risks related to violations of tax legislation and the significance of the internal control system for minimizing potential risks of dairy industry enterprises are analyzed within the end-to-end business process of taxation. Management of non-current assets is considered in the context of potential distortions in balance sheet value, depreciation assessment, impairments, and control over the physical existence of assets.

The importance of external auditing is emphasized, as it provides an independent assessment of the design and operational effectiveness of control procedures in these business processes. Modern practices in the field of auditing and management of dairy industry enterprises are summarized. The study conclusions confirm the need for a comprehensive systematic approach to managing these processes in order to ensure sustainable development of enterprises in the long term.

The study focuses on a detailed analysis of the stability of divergent economic development processes among Russian regions, which leads to significant interregional inequality. The main data source was the per capita monetary income indicators provided by Rosstat for the period from 2011 to 2023. The authors of the study used trend and correlation analysis methods to test the hypothesis regarding the stability of significant economic differentiation, specifically the divergence of economic development across different regions of the country. The results of the study indicate that despite the overall growth in population income in most regions, the high volatility of these incomes underscores the need to develop and implement targeted regional policies. The research revealed substantial differences in the dynamics and stability of incomes, indicating the necessity for a differentiated approach in shaping economic policy. Most regions demonstrate a positive correlation in economic trends, but significant variation in the volatility of these trends requires special attention from authorities. Some regions stand out due to their atypical characteristics, making them subjects for separate and deeper analysis. The conclusions of the study confirm the persistence of divergent processes in the economic development of Russian regions, highlighting the importance of developing strategies that take into account the unique features of each region. This is essential for reducing inequality and ensuring sustainable economic growth in the long term.

Education is the basis for the development of human capital and the emphasis of the state policy of the Russian Federation in recent years has been placed precisely on improving the quality of human capital, which determines the relevance of the study. The article presents the trends in the development of education in the context of digital transformation that we have identified. The author’s understanding of the digital transformation of education is given based on the analysis of modern views of scientists from various fields of science. The directions of state regulation of digitalization of the modern Russian education system are considered, the basis of which is the development of regulatory documents governing digitalization in the field of education in the Russian Federation. One of the sustainable trends in the development of the education system throughout the world has become the trend of “education throughout life”, that is, it is not enough for a modern person to get an education once and work all his life without building up his knowledge, skills, abilities and competencies. This trend is radically different from the old tradition of getting “education for life”. And it is this trend that determines the development of the entire modern education system throughout the world. Undoubtedly, digitalization has made its own adjustments to all spheres of society and education has not remained on the sidelines.