Vol. 2 No. 1 (2024): Economic development and analysis

This article discusses the origin of monopoly, various definitions given to it, regulation of monopolies and increasing the role of the state in it, the essence, theoretical foundations, necessity of anti-monopoly management, and the importance of developing a competitive environment in our country.

Ensuring sustainable economic growth in Uzbekistan by diversifying the structure of the economy and increasing its competitiveness, consistent implementation of market mechanisms in all sectors of the economy, reducing poverty and improving the welfare of the population, accelerated development of the digital economy, transformation of state-owned companies, and reducing state participation in the economy are the priorities of the economic reforms currently underway. Within the framework of this economic reform, issues such as increasing the financial potential of the regions and increasing the gross regional product will occupy an important place. Based on this, this article analyzes the theoretical aspects of increasing the financial potential of the regions.

This article explores teacher motivation in higher education, drawing on international experiences. Motivation, a vital factor in individual and society domains, is examined for its profound impact on collaborative goals. The alignment of employee motivation with employer-provided incentives enhances personal effectiveness. Teacher motivation significantly influences student success, necessitating the identification and assessment of influencing factors. The study delves into diverse global approaches, including those in the United States, the United Kingdom, Western Europe, and Scandinavia. It highlights unique methodologies, assessment criteria, and the decentralized nature of control. The article concludes by emphasizing the interconnectedness of teacher motivation and student outcomes in shaping the future of education.

This article provides information about the theoretical basis of investment instruments, musharakah and mudarabah, organizational and management system, as well as the principles of practical application, as well as their differences from each other. In addition, issues related to the possibility of attracting domestic and foreign investments in Uzbekistan by implementing these agreements are presented.

This article examines and analyzes the features of digitalization, the concept, types and differences of the terms digitalization and digital transformation, the share of digital technologies abroad in recent years, the advantages and disadvantages of digital technologies in business and the role of personnel in them, the criteria of the digital economy and the main online business models, as well as the necessary conclusions and suggestions.

The dynamics of the digital transformation of the economy and society, the versatility and diversity of digital development indicators, their significant differentiation by economic sectors and regions of the country dictate the need to develop comprehensive methods for assessing digital development. Based on the study of the patterns of formation of the digital economy, the article defines the stages of digital development, target criteria and a system of integral, generalizing and partial indicators for the stages of digitalization of the economy and society. The integral coefficient of the state of digital development is calculated using an additive model based on normalized values of real indicators. The potential values of particular indicators are used to assess the potential of digital development.

The scientific article analyzes the role of women in the popularization of innovative banking services in developing countries. Uzbekistan, Turkey, Malaysia, and Saudi Arabia were considered as developing countries in the analysis. The analysis was conducted on the basis of statistical data for 2014-2021. According to the results of the analysis, innovative banking services among women in our country are not sufficiently developed and, unlike other countries, digital banking services are not widely used by women.

Internal control, that is, audit service, has a special place and importance in increasing the competitiveness of commercial banks in the national economy, further strengthening their position in international integration and economic processes, as well as in checking and evaluating the compliance of banks activities with global requirements and standards. The above issues were considered in the article, suggestions and recommendations for improving the internal audit service were given.

As a result of the implementation of an unexpected event in a competitive market for telecommunication services, new ways of business development were shown. At the present stage of digitalization of relations between consumers and providers of telecommunication services, based on market principles, digital platforms are now widely used to improve the service strategy of the service provider, as well as to develop a marketing strategy.

Due to the rapid development of digital infrastructure in Uzbekistan, the landscape of tax debt collection is changing. Explores the evolving mechanism used by tax authorities to collect tax debts and highlights the impact of digitization on efficiency, transparency and compliance. By analyzing the current state of digital infrastructure and its integration into tax collection processes, it illuminates the opportunities and challenges that arise in a dynamic environment.

The article is devoted to the consideration of the problems arising in the process of globalization and experienced in adjusting the National Accounting Standards (NAS) in Uzbekistan, including the standard related to intangible assets, in compliance with the International Financial Reporting Standards (IFRS), as well as the solutions proposed thereof. Herewith the author proposes the recommendations worked out for recognition of intangible assets, assessment of book value, the method of calculating amortization, revaluation model, the order of disclosure of information on intangible assets in the financial statements in accordance with international standards (IFRS 38). Moreover, there some considerations on the revaluation model of intangible assets to assess their impact on initial value, amortization, long-term and total assets.

In this article, the relevance of the role of foreign investments in industrial production, the positive impact of investments on the economy, measures to organize the effective use of investments in economic sectors and the prospects of attracting investments, along with investment, new technologies, advanced experiences, the directions of entry of highly qualified specialists, the analysis of the efficiency of investments in the development of the economy of Uzbekistan are presented.

This article has studied and analyzed various scientific works that describe the instruments of Islamic finance and project financing through Islamic finance, as well as its differences and advantages from the traditional financing system. During the study and analysis of scientific works, international experience was studied and ways to further improve the financing of projects through Islamic instruments were presented. At the same time, from the scientific works carried out within the framework of ScienceDirect, Google Scholar and Researchgate, 54 articles on the topic were studied, 24 of which were reflected in this article.

In the context of modern financial management and control, the public sector is becoming the object of increasing attention. This article comprehensively analyzes the current state and promising directions for the development of the financial control system in state and public organizations, with special attention paid to optimizing control processes for the efficient use of public resources and achieving strategic goals. In addition, the article examines the problems faced by financial control in the public sector.

The digital economy significantly improves people's living standards, which is its main advantage. The digital economy is the main link between corruption and the shadow economy. Because numbers capture everything, store it in memory, and quickly provide information when needed. In such conditions, it is impossible to hide any information, make secret transactions, or not provide complete information about a particular activity; the computer will reveal everything. The abundance and systematicity of information does not allow lies and fraudulent actions.

The article covers the issues of entering financial market instruments adapted to world standards and creating a favorable economic zone for investors in the context of globalization. The use of financial market instruments to attract investments is also analyzed

This article analyzes the issues of financial support of non-governmental non-profit organizations in the form of state grants and offers suggestions for improving the system.

This article will focus on the analysis of the use and improvement of the effectiveness of digital technologies in the activities of telecommunications enterprises in the economy of our country, as well as on improving development prospects. The existing problems and prospects for the development of the use of digital technologies in the activities of telecommunications enterprises of the Republic of Uzbekistan, as well as the author's approaches and proposals to overcome them, are also presented.

This article presents comprehensive information on sukuk, an Islamic security, which is considered an Islamic security, in which order it is emitted, and its introduction into financial markets, and various scientific works that describe its importance in the country's economy have been studied and analyzed. The study encompasses an exploration of international experiences in sukuk implementation, citing instances of its introduction into global financial markets. A thorough examination of 50 articles, sourced from both foreign and domestic scholars, was conducted via platforms such as ScienceDirect, Google Scholar, and other scientific databases. This scientific work synthesizes insights from 20 selected articles to provide a nuanced understanding of the subject.

The article examines the theoretical foundations of the functioning of competition as an economic phenomenon that arises in a competitive banking environment, and also identifies the features of banking competition. Its structure is described, manifestations of the development of competition in the financial market in Uzbekistan are noted, and indicators of the competitiveness of the banking system are assessed.

The purpose of this research is to study the impact of cross-border e-commerce development under the regional economy of Inner Mongolia on the construction of higher vocational education majors in the autonomous region. Taking the cross-border e-commerce profession of higher vocational education as the research object, it analyses the current situation of cross-border e-commerce professional curriculum and teaching quality of higher vocational education in Inner Mongolia by investigating the demand for relevant talents in the cross-border e-commerce industry in the region, and constructs the core curriculum standard of cross-border e-commerce profession of higher vocational education in Inner Mongolia on this basis. In addition, the implementation scheme of cross-border e-commerce professional core curriculum is explored and the assessment method is proposed. In order to provide reference value for talent cultivation of cross-border e-commerce development under the regional economy of Inner Mongolia.

Evaluating the effectiveness of the tax policy strategy implemented in Uzbekistan, special attention is paid to the analysis of its tactical directions. The study used a comprehensive approach that took into account various economic indicators, fiscal data and socio-economic impacts. The study assessed the tax policy's compliance with national economic goals, its impact on business competitiveness, and its ability to stimulate economic growth and development. In addition, research examines the extent to which tax policy contributes to reducing income inequality and increasing social welfare. In order to increase the overall efficiency of the tax policy in Uzbekistan, potential directions for improvement in strategy and tactics are suggested.

This article examines strategic approaches and management practices aimed at optimizing the tax potential of large taxpayers operating in the oil and gas sector. Recognizing the important role of this sector in the national economy, the study aims to identify best practices for maximizing tax revenues while ensuring sustainability and competitiveness. Proposals and recommendations for further improvement of the tax administration of large taxpayers were developed, and scientific and practical conclusions and suggestions for its application in our country were formed.

The article discusses the transition to international financial reporting standards, their recognition and application. The directions for improving accounting used in practice on the basis of international financial reporting standards are outlined.

The article describes the emergence of tax obligations and their accounting issues. Directions for improving the accounting of tax obligations based on international standards of financial reporting are indicated.

The article evaluates the size and composition of the informal economy in Uzbekistan, and the essence of the concept of the informal economy is also studied. Also, the reasons and factors for the wide spread of informal economic activity in Uzbekistan are analyzed, and comments on the limitations of the full coverage of informal economic activity are given. The situation of informal economic entities in Uzbekistan in 2021-2023 was analyzed and a conclusion was drawn at the end of the article.

This article provides a study of fixed asset accounting, including accounting and depreciation accounting for tax purposes. Studies have formed conclusions on the main fixed assets account for the purposes of accounting and taxation.

The article highlights issues of improving the accounting of tax expenses. Theoretical issues of tax expenditures are studied and proposals for their improvement are given.

This article describes the improvement of the administration based on bringing the service to business entities to a new level, increasing the tax administration literacy of the population, supporting entrepreneurship, creating an equal competitive environment and guaranteeing the rights of consumers, and encouraging the active participation of the general public in curbing the underground economy. In addition, in recent years, in our republic, large-scale reforms aimed at creating favorable conditions for conducting business activities in the country's tax and financial sectors, improving the investment environment, and further strengthening the confidence of business circles have been analyzed. At the same time, the fields were studied, foreign experience, scientific-practical conclusions and proposals were formed on its application in our country.

This scientific article highlights the prospects for developing the potential of ecological tourism in Uzbekistan, the importance of the tourism industry in the economy of Uzbekistan, summarises current initiatives, current trends, economic indicators, and considers ways of turning ecotourism into a highly profitable sector of the economy of Uzbekistan.

This article reveals the specific aspects of accounting in Islamic financial institutions and the procedure for accounting for a murabaha agreement, which is one of the commercial agreements. The main points on financing of the negotiations are given, and the documents pay special attention to the description of transactions related to it. In particular, the features of the method chosen by the financial institution are discussed, as well as the accounting procedures in Islamic financial institutions, the similarities and differences in accounting in traditional and Islamic banks. The conclusion presents the main points regarding the implementation of the Murobaha trade agreement.

This article describes the economic importance of developing strategic financial decisions in ensuring the financial sustainability of enterprises. Financial decision-making is analyzed using the example of joint-stock companies aimed at increasing the efficiency of capital use. A scientific proposal and practical recommendations for improving the mechanism for making financial decisions have been formulated.

This article aims to contribute to the conceptual debate on the key success factors of value innovation in entrepreneurship and presents innovation practices and processes that support value innovation in a business context.

In recent years, more and more attention has been paid in Uzbekistan to the study of scientific and practical problems of poverty reduction and its gradual elimination. Such actions are considered extremely relevant and important in socio-economic terms in the territory of the mahalla, which is the main support point of our country. Taking this into account, the article, based on an analysis of scientific and practical results obtained in foreign countries and in our country, develops proposals and recommendations aimed at eliminating poverty in the mahalla.

The study analyzes on a scientific basis factors that should be taken into account in the practice of financing higher educational institutions in Uzbekistan. Factors such as an increase in the future income of specialists prepared by subsidizing certain academic programs, positive externalities from the specialists in society as a whole, and the economic costs of prepared specific specialists are explained on a scientific basis. Based on the scientific findings, subsidy regimes have been proposed related to the financing of higher educational institutions in Uzbekistan. The prospects for applying the developed proposals are substantiated in the practice of allocating state grants in the field of higher education.

In the article discusses issues of improving the methodological aspects of drawing up an interim balance sheet during the liquidation of enterprises. In order to form the intermediate liquidation balance of the liquidated enterprise, the stages of determining obligations, the work to be performed at each stage, the register of creditors claims and forms of an intermediate liquidation balance are proposed.

This article examines the evolution of strategic management, from the origins of the concept to its dissemination in business and academia. The article also examines the evolution of strategic management over the decades, noting its adaptation to changes in technology, sustainability and globalization. It concludes by emphasizing the importance of strategic management in gaining competitive advantage and adapting to both internal and external changes.

This article dedicates to research the recognition and valuation of liabilities, including the recognition, valuation and reflection of assessed liabilities in accounting and conclusions are formulated based on the results of the study.

This article critically examines the challenges and opportunities related to the taxation of digital financial assets in the context of Uzbekistan. Focusing on existing challenges within the regulatory framework, it examines issues such as the lack of clear asset classification, the unclear tax regime for cryptocurrencies, the lack of adequate regulations for initial coin offerings (ICOs), limited international cooperation, and inadequate reporting mechanisms. The article offers a set of scientifically based recommendations adapted to the conditions of Uzbekistan aimed at eliminating these problems and creating a more flexible and efficient taxation system. By addressing these issues, the article aims to provide valuable insights for tax authorities and stakeholders managing the emerging digital financial ecosystem in Uzbekistan.

This article aims to reveal the experiences of international countries and their important features in illuminating the methodological approach of evaluating the activity of commercial banks based on the rating system. The theoretical basis of the rating system of commercial banks was extensively analyzed.

This article presents the importance of taxes in import operations, together with the amount of indirect taxes in the state budget revenues, the procedure for taxation of goods imported into the country, the procedure for taxation and customs regime when import operations are carried out in the country, the dynamics of the country's imports with major partner countries and the volume of imports are studied. Also, scientific discussions were held and suggestions were made to study the role of taxes in import operations.

In this study, theoretical and practical approaches to tax regulation of the financial sector are studied. Effective tax regulation considers the application of a tax on financial activities. As a result of the analysis, conclusions were drawn on financial activity tax.

The article describes ways to improve the efficiency of tax debt collection. Economic literature and regulatory legal documents are scientifically researched, relevant conclusions are made.

This article examines a number of problems of ensuring the employment of new personnel in the professions they occupy in the conditions of the formation of a modern market economy in our country. It should also be noted that among the problems awaiting solution are problems associated with the effective use of the potential of intellectual and labor resources. Suggestions and opinions were expressed regarding the need to provide employment to personnel in a new, modern way by solving these problems, as well as the need to effectively improve social protection and relations in the labor market.

The article emphasizes that attention should be paid to new principles of functioning of people's relationships, reflecting not only economic, but also socio-cultural, spiritual-ethical and spiritual-psychological aspects of these relationships, taking into account that modern economic theory has not been able to answer the socio-economic problems of the current period that have arisen due to modern transformations, climate change, the emergence of the knowledge economy, globalization processes, due to the fact that the worldview of the world population and the principles of human behavior are becoming more homogeneous. The dependence due to transformation processes, with insufficient implementation of the task as a theoretical and methodological basis for other economic sciences and the economic policy of the state, is substantiated.

As a country with a growing economy and a desire to attract domestic and foreign investments, Uzbekistan recognized the importance of reforming the tax system. At the same time, some important reforms implemented in the tax system of Uzbekistan were studied, foreign experience, scientific-practical conclusions and suggestions on its application in our country were developed.

This article covers the issues of improving internal audit in the public sector. It is proposed to use foreign experience in the organization of internal audit.

This article examines the issues of improving the accounting and reporting of expenses for the payment of pensions and benefits by type in extra-budgetary pension funds. As a result of analytical research, scientific proposals and practical recommendations for transforming the accounting and reporting system to international accounting standards have been developed.

This article highlights issues of improving equity accounting based on international financial reporting standards. Accounting for authorized capital is reflected in the accounts on the basis of information obtained from practice.

It is important to audit the correctness, accuracy and truthfulness of the comparative information included in the financial statements of economic entities. Taking this into account, this article focuses on the processes of assessment comparative information, obtaining reliable audit evidence on comparative information, and conducting analytical procedures. Also, based on the comparative analysis of the financial statements of economic entities, suggestions and recommendations are given for drawing reliable conclusions about their financial position.

In this article, special attention is paid to the extent to which the efficiency of services provided in public catering establishments is developing the place of this sector in the economy. The significant aspects of the profit and efficiency in the activity of catering enterprises are highlighted. Proposals and recommendations on the issues of further expansion of multilateral partnership for the proper establishment and development of catering services in the development of the economy of our country were given. Issues of revision of the personnel system are indicated as the main task.

Excise tax plays an important role in the formation of state revenues and regulation of consumption of certain goods and services. The article reviewed the existing literature on excise tax administration, drew conclusions from advanced international experiences. Also, the main directions of improvement of control mechanisms are determined, the main focus is on policy reforms, technological integration and capacity building in tax authorities.

The article examines the essence of the risks of innovation and defines the main classification of risks, signs of their grouping, the interdependence of the concepts of “risk” and “uncertainty”, the essence of innovation risk, systematization of risks in innovation, innovation and various approaches to their systematization and grouping.

In this article, the factors affecting the development of the quality assessment system of higher education services in Jizzakh region are studied.

This article analyzes the methods of assessing risks affecting the income of foreign companies and their working mechanisms. The functions of cross-linking of risks affecting the income of enterprises and the criteria of their influence have been developed.

This article presents scientific and theoretical definitions and their comparative analysis with the concepts of economic potential given by economic scientists, as well as emphasizes the scientific and theoretical aspects of economic potential in the service sector and reveals the improvement of the use of economic potential in the service sector.

This article examines the transformational processes of the banking system, their importance in the development of the bank's business activities, the potential capabilities of bank employees, and following global trends. The improvement of the banking system takes place throughout the entire period of its formation, new opportunities appear, and the requirements for the activities of credit institutions change. Improving institutional quality is an important factor in reducing the risks of the banking system.

In this article, based on the analysis of the necessity of the innovative marketing strategy of commercial banks in modern conditions, the main principles, and the methods of its implementation, ways to increase its effectiveness have been developed. At the same time, the conclusions of foreign and national researchers in this direction and the strategy of commercial banks in the direction of attracting customers were studied.

The article is devoted to the formation of a competitive environment in the service industry, a more in-depth study of the demand for services in the future, the role of benchmarking in the development of innovative activities in organizations and the effective management system of the service market. Benchmarking is the study of the "best" services and goods in the organization's marketing policy, the marketing process, and the development of one's own way of working, taking into account the achievements and shortcomings of direct competitors. This includes the organization and management of events, the search for the necessary financial resources, information supply, the provision of basic and additional types of services, the achievement of coordination with the service personnel, the organization of the flow of services and their security.

This article focuses on improving the development of the transport-logistics system in Uzbekistan and focusing on the transport-logistics corridors of Uzbekistan. At the same time, it is proposed to put into practice the mechanisms for fulfilling the tasks defined in the "Uzbekistan-2030" strategy, ways to improve the modern transport-logistics system that meets the requirements of the present time.

The article highlights the issues of improving the administration of indirect taxes as a result of the tax reforms being carried out in our country. Based on the analysis of the income from indirect taxes, proposals were made to reduce their share.

The key economic task of small and medium-sized enterprises (SMEs) in market conditions is to ensure competitiveness in product markets in the area of their production specialization. In addition, long-term economic development dictates the need for a sufficient level of competitiveness in financial markets, that is, acceptable conditions for access to external sources of financing for operating and investment activities. Solving this problem is impossible without the implementation of large-scale investment projects that require significant amounts of financial and material resources. At the same time, in many sectors of the economy of the Republic of Uzbekistan there is a contradiction between the real need for the volume of financing of investment activities aimed at updating and developing the material and technical base, and the available sources of its own financial resources. One of the reasons for this situation is the lack of an effective management system for financial and investment activities, which is based on modern methodological principles and uses the latest technologies and tools for financial management of SMEs. All this predetermines the relevance of scientific substantiation of new methodological approaches to managing the investment activities of enterprises that are adequate to the current financial and economic conditions of their functioning.

This article pays special attention to the development of the service sector, which is determined by the conditions created for the activities of enterprises and organizations. Examples explain the classification of the level of social independence in the service sector according to the number of independent enterprises and organizations emerging in the market. Proposals and recommendations have been developed taking into account the fact that building service sector activities is a multifaceted process.

This article deeply analyzes the issues of further improving the infrastructure of mahallas in Uzbekistan and provides suggestions and recommendations on this issue.

The article covers the issues of real estate valuation and accounting in the context of the digital economy. Directions for improving the accounting of real estate objects based on international standards of financial reporting are indicated.

This article discusses the main factors for increasing the value of enterprises since they are an important goal of the national economy. In world practice, there is no unified approach to the factors influencing the increase in the value of an enterprise. Therefore, in order to increase the value of the enterprise, the formation and analysis of a system of indicators characterizing its financial stability, and measures to ensure financial stability were studied in detail.

This article examines the theoretical foundations of the concepts of wage fund and wage fund, studies of their composition and draws appropriate conclusions.

This article is devoted to the study of the economic essence of the financial stability of insurance companies in the context of Uzbekistan. Particular attention is paid to various aspects of determining financial stability that are unique to the Uzbek insurance market. The study is based on an analysis of current data and literature sources, as well as on the experience of experts in the insurance industry.

This article reveals the significance, specifics of the public utilities sector, which is one of the most important sectors of the economy, and methods of statistical assessment of its development. The foreign experience of statistical study and evaluation of the sphere of public utilities, ways and mechanisms of its effective use are also studied.

This article describes the tax consequences of companies transition to international standards of financial reporting. The issue of which regulatory documents and sources to use in the preparation of tax reports in enterprises that have passed the financial audit report has been clarified.

The article covers aspects related to waste management and ensuring environmental safety in economically developed countries and the Republic of Uzbekistan. Also, the scientific considerations regarding the waste, its occurrence, the world experience in the processing of harmful waste and their neutralization are described, and suggestions and recommendations are developed at the end of the article.

The article examines the socio-economic content, essence, structure, interpretation and modern trends in the finances of higher educational institutions. In connection with the process of transformation of universities, the features of the formation of a financial mechanism and its main components that create sustainable financial relations in higher educational institutions have been comprehensively studied. Suggestions and recommendations for financial management of higher education institutions are also given.