The publication reflects all the latest provisions in the field of the legal foundations of financial relations and new approaches to public financial management. Extensive and multifaceted information that makes up the content of financial science and practice is presented compactly, in an accessible form, and carefully structured. In preparing the second edition, considerable attention was paid to the issues of determining the budget strategy for the medium term and the transition to the formation of the federal budget for a three-year period. The main innovations in the field of budget policy and the budget process, formulated in the budget message of the President of the Russian Federation of 2007 to the Federal Assembly of the Russian Federation “On budget policy in 2008–2010,” are revealed. and the Federal Law “On Amendments to the Budget Code of the Russian Federation” adopted in April 2007. A short course of lectures on the discipline “Finance” has a specific goal - to provide textbooks for students undergoing training in economic specialties: “Accounting, Analysis and Audit” , “Organization Management”, “Taxes and Taxation” and others. The book will also be useful to graduate students, teachers and practitioners interested in obtaining systematic information about finance, taking into account current practice and the current legal framework.