In the process financial activities municipalities and states arise various social relations. All of them require clear regulation, consolidation of duties, legal opportunities, as well as the responsibility of entities involved in them. The system and principles of financial law play a major role in this. 
Institute Features
Everything that constitutes financial law - the subject, methods, principles, measures and other elements - applies to other segments of the legal industry. At the same time, within the institute itself, the norms apply differently to various links. This is due to the fact that the principles of Russian financial law concern the turnover of municipal and state funds with a public character.
Definition
Financial law is an industry in which the rules govern relations arising during the formation, use, distribution of decentralized and centralized funds. These resources are managed by municipal and state structures. These funds are necessary for the implementation of the tasks assigned to these entities.
Relationship classification
Interactions acting as the subject of financial law are divided into the following groups:
- Between subjects, administrative divisions, municipalities and the Russian Federation. These relationships relate to the cash allocation process.
- Between the tax and financial authorities of the country on the one hand and institutions, enterprises and organizations on the other. These interactions relate to the fulfillment of obligations to the state and municipalities, the distribution between them or the expenditure of monetary resources.
- Between financial and credit municipal (state) structures. These relations are associated with the formation, use and distribution of appropriate funds - insurance, credit, extrabudgetary, budget.
- Between municipal and state institutions, organizations, enterprises on the one hand and state (municipal) parent bodies on the other. These interactions relate to the distribution and use of credit or budget resources, own funds of institutions, enterprises and organizations in the relevant economic sectors and areas of public life.
- Between citizens, legal entities on the one hand, and financial and credit structures on the other. These relations are associated with the distribution of centralized insurance funds and credit (state) resources.
- Between citizens and financial-credit state structures. These interactions relate to the obligation of individuals to make payments to the budget, trust extrabudgetary funds and other structures.
Regulation methods
The main method is the imperious prescription. It comes from the authorized structures of local government and the state. This method is also used to some extent when the government uses voluntary payments to form its own resources. Lotteries, treasury bills, government loans and so on may be such “payments”. In particular, the method of authorization determines the conditions for making these payments. In addition, financial law provides for the use of other regulatory methods. In particular, these are the methods of contracts, approvals, recommendations. 
Principles and sources of financial law
The activities of local governments and the state in the public sector are carried out in accordance with certain criteria. They represent the requirements and rules by which its focus and the most significant features are expressed. Their content is determined by the Constitutional foundations. The principles of financial law are plannedness, transparency, legality and federalism. Let's consider them in more detail.
Federalism
This principle is expressed in the delimitation established by the Constitution of the competence of the regions and directly of the Russian Federation in the financial sphere. Article 71 establishes that the jurisdiction of the state is:
- Federal fees and taxes.
- Cash issue.
- Federal budget.
- Credit, currency, financial regulation.
- Federal banks.
The joint jurisdiction of the regions and the state includes the establishment of a general procedure for taxation and deduction of fees. 
Legality
This principle is expressed in the fact that the course of the entire process of formation, use and distribution of finances is regulated in detail by standards. Their observance is mandatory for all parties to the relationship. Enforcement is carried out due to the possibility of applying coercive measures to violators.
Publicity and Planning
The first principle is expressed in the procedure for the publication of the contents of draft various financial and legal documents, the results of audits and inspections, and adopted reports. Planning provides that all activities related to the circulation of funds are based on a set of planned acts. Their structure, the procedure for execution, approval and preparation are enshrined in the relevant provisions of the law.
Industry-wide aspects
The above are the constitutional principles of financial law. They cover the entire institute as a whole. Industry-wide principles of financial law reflect the specifics of the industry more specifically. These include, in particular:
- Priority of public (public) interests in the course of regulation of relations.
- The unity of the monetary system and financial policy, federalism, the equality of subjects in this area, the independence of local governance structures.
- The distribution of functions in accordance with the principle of separation of executive and representative (legislative) authorities.
- Participation of citizens in the implementation of financial activities of state and local structures.
These principles of financial law are enshrined not only in the Main Law of the country. They are also specified in relevant industry standards.
Priority of public interest
This principle provides for the use of financial and legal structures to ensure economic regulation in accordance with significant social tasks. It establishes the need to improve the norms by which the mechanism of state influence on credit and financial relations is fixed, a clear definition of the very concept of power management as a whole, and in various fields.
Combination of interests
It is supported by the principle of federalism in the financial sector. State federal and subject authorities carry out their functions in accordance with a certain distinction between the subjects of relations. Improving the implementation of the principle of federalism in the financial sector is one of the paramount tasks in the Russian Federation.
Unity of directions
In accordance with industry standards, the independence of the country's regions is determined by the principles of financial law, taxation and fees, as well as federal monetary policy. The legislation enshrines the unity of the budget sphere, the procedure for replenishment of expenses, etc. In addition, the principles of financial law act as basic criteria for forming a list of taxes.The unity of the state policy in the sphere of money circulation is considered an integral condition for the integrity of the economic space guaranteed by the state, freedom of movement of funds.
Equality of regions
For each entity financial law equally extends its effect. Outside of the jurisdiction of the Russian Federation and joint management with the regions, entities carry out their own regulation of cash flow, relevant activities, establish taxes, approve the budget and so on. The constitution guarantees the independence of local governments. In their activities, they are guided by the legislative framework of the corresponding region of the country. They themselves can set a budget, form and use targeted extrabudgetary funds, determine fees and taxes in accordance with federal regulations.
Social orientation
It proceeds from their constitutional provisions, which characterizes the Russian Federation as a social state in which the policy of the authorities is focused on the formation of conditions conducive to the free development of man and providing him with a decent life. In accordance with this, the regulations on labor protection, health, life are fixed in the regulatory framework, the guaranteed minimum wage is determined, state pensions, compensations, and other social guarantees are established. 
Planning
In modern conditions, this area of activity in the field of finance has undergone significant changes in comparison with that previously existing under the administrative-command regime. Planning is not only consistent with the principles of market relations, but also acts as a necessary and most important element in the process of regulating cash flow.
World cash turnover
Its main component is the principles of international financial law. They consolidate the duties and legal capabilities of all subjects of relations related to the global circulation of funds. In addition, they act as a basis for the formation of other norms, contribute to ensuring the unity of the institute, etc. Russian scientific journals lack a unified approach to the content and composition of the principles of the IPP. Nevertheless, two groups can be distinguished:
- Having a procedural or material content.
- Acting means of equalization and comparison of conditions that provide entities to each other.
