Peculiarities of Higher Educational Establishments Funding Accounting: National and Foreign Experience

The article actualizes issues of funding for efficient scientific, research and development, educational activity during the reform period. The focus on integration of science and education, based on the education quality improvement, requires implementation of new models for the scientific and educational process funding. For the purpose of development of such models, we offer to compare foreign experience of leading educational institutions, represented by the Harvard University, and Taras Shevchenko National University of Kyiv. The majority of higher educational establishments in Ukraine are funded from the state budget within the governmental order. The money, provided to the educational institutions for the state-funded places, essentially form the universities profit. At the same time, the comparative analysis of the budgets of the leading world’s university and a national institution of higher education with the privileged funding shows incomparable allocation of funds. The difference in the practice of planning, accounting, control and analysis of financial, informational and material flows generates principal distinctions in the obtained results. The problems of higher educational institutions’ economy and management are directly related to financial assurance of the educational process. The models and approaches to funding higher educational establishments in the mode and forms they function now require reforming. It is suggested to apply financial levers due to their interconnection with the factors of efficiency, taken as a basis during the educational establishment’s activity assessment. In terms of scope, there emerges a necessity for elaboration of higher educational institutions development strategy, focused on the needs of society and economy.