Volume 8 Issue 1

The main purpose of the article is to study revenue and expense management system on the government budget in Azerbaijan, the activities of Oil Fund (SOFAZ) and its place in budget transfers. In fact, some sectors have managed to maintain an acceptable level of efficiency, according to the circumstances, however, most showed some inefficient levels in the management of resources and at the same time, it was discovered that most of the state budget revenues (approx. 50%) are formed in the oil and gas sector which this does not allow for sustainable economic development. Research work has been carried out on the basis of systematic analysis and methods. The practical significance of the study is in the implementation of the set of measures proposed in the article. It is based on the evidence that the mechanism for the use of oil revenues in Azerbaijan will be improved and the effectiveness of long-term management for government expenditures is ensured.

Countries pass through different stages of structural transformation. In the early stage of development, economic activity is dominated by agriculture and mining. As a country develops, firms adopt new technology and move toward industrialization and faster economic growth. Eventually, the society matures when political and economic institutions are well established, and the society moves towards mass consumption. In a matured economy, generally government interventions are replaced by privatizations in production and trade. Accordingly, international trade barriers are reduced as a country moves towards later stages of development. Recently the US government has moved against the trend by imposing tariffs on China's imports. There is a literature on positive effects of trade liberalization and economic growth. Not unsurprisingly, the Chinese government retaliated by introducing tariffs on US produced goods. For the time being, the result of this trade war on US and China's trade balance is unclear. However, this development has introduced excessive volatility and uncertainty in global financial markets.

The need for non-financial reporting was strengthened by the challenges of a globalized environment based on the knowledge of business activities and on the promotion of the use of information. Accounting professionals have come to challenge the traditional business financial reporting model, arguing that when evaluating a company's past and future performance, the need to inform all stakeholders is not adequately met. Several articles do not clearly define non-financial reporting, the authors referring only to basic concepts used in research, such as environmental reporting, sustainability/durability reporting, social reporting, ethics and durability reporting, corporate reporting, corporate governance reporting, social responsibility reporting, integrated financial and non-financial information reporting, risk and capital management report. Analysing the publications that research the non-financial reporting, we identify in the decreasing order of frequency, the following terms: non-financial information, non-financial reporting, non-financial disclosure and extra-financial information / disclosure / reporting. Based on these considerations, in the incipient phase of our research, we carry out a systematic literature review (SLR) in order to identify and analyse the research trends, methods and research frameworks used in identifying non-financial reporting types, the way in which performance is reflected in these reports and how stakeholders influence the economic entity in designing the reporting method. One challenge in achieving this SLR was the fact that there is no guide for carrying out this type of literary review in the field of accounting, and that there is sufficient fragmentation in the research literature in terms of defining non-financial information and non-financial reporting.