Proceedings of the International scientific and practical conference ―Israel Ukraine Forum of Science and Innovation‖ (April 27-29, 2026) / Publisher website: www.naukainfo.com. – Tel Aviv, Israel, 2026. - 262 p.

13 finances. This feature is a characteristic feature that allows us to distinguish them from state finances. Considering international practice and standards, transparency and openness are a determining factor in public finances as a special type of modern, financial, and social relations. To better understand the essence of the concept of "public finances", it is necessary to compare them with private ones. The latter have relatively different functional affiliation, since they have different goals (Table 1). Thus, private finances are built on the principles of profitability, oriented towards obtaining high profits, income. At the same time, the goal of public finances is to meet general social needs regarding the state's performance of its functions and the provision of state, social services, and public goods to the population, rather than obtaining income. Table 1 Differences between private and public finance Feature name Private Public Target Obtaining high profits, income Meeting social needs Ways of formation Depends on the entrepreneurial talent of the business entity, as well as market conditions Accumulation is carried out through the coercive tools of the fiscal system Development status Determined by the objective economic laws of a market economy Regulations, decisions of the government, other authorities Impact on the economy Insignificant, as it serves private interest Significant due to the significant amount of financial resources and powerful influence on the dynamics of socio-economic development Definition Financial resources owned by business entities Financial resources that are accumulated to perform state functions and meet social needs Built by the author In addition, the state, unlike private sector entities, where private finances are formed, has a high degree of power. This gives it the opportunity to apply coercive