Gorshkova N.V., Mytareva L.A. Personal Accounting of a Family as a Factor of Raising Financial Literacy of Russians

http://dx.doi.org/10.15688/jvolsu3.2014.4.14

Gorshkova Natalya Valeryevna
Doctor of Economic Sciences, Associate Professor,
Acting Head of Department of Theory of Finance, Credit and Taxation,
Volgograd State University
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Prosp. Universitetsky, 100, 400062 Volgograd, Russian Federation

Mytareva Leyla Akifovna
Candidate of Economic Sciences, Associate Professor,
Department of Theory of Finance, Credit and Taxation,
Volgograd State University
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Prosp. Universitetsky, 100, 400062 Volgograd, Russian Federation


Abstract. In modern conditions of high requirements to the level of financial literacy of business entities, coupled with sharply rising problem of declining real disposable incomes, on the background of the protracted financial and economic crisis, the relevance of effective personal finance management at the level of separate family is extremely high. The authors have put forward the working hypothesis that the adoption of flexible management decisions in the area of personal finance is possible on the basis of relevant information about the facts of economic life of the family accumulated in the system of personal accounting. Conducted theoretical research in the area of differentiation of modern accounting allowed the authors to determine the place of personal accounting system, to present its definition, goals, objectives and specific signs. The article argued the conclusion that personal accounting of the family may be represented as a subspecies of management accounting and, therefore, to apply proven tools of management accounting in the methodological developments of doing a personal accounting of the family. In this regard, the authors have developed and described the system of budgets, including revenues, expenses, saving and investment budgets, allowing current and strategic management of personal finances of the family. Theoretical and methodological development of personal accounting is illustrated in the article on a specific example.

Key words: personal accounting, personal finance, personal finance management, financial literacy, personal budget, family budget.

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Personal Accounting of a Family as a Factor of Raising Financial Literacy of Russians by Gorshkova N.V., Mytareva L.A. is licensed under a Creative Commons Attribution 4.0 International License.

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