Financial activities of public and commercial institutions are things that master’s students focus on during their studies. On the one hand, students master the skills of legal counselling of oversight functions and powers in financial sphere which a state implements. On the other hand, students learn to create conditions so that all entities under control and oversight meet financial discipline requirements. This concerns budgetary, tax activities, banking, insurance activities, foreign exchange regulation and control. Future lawyers are trained to solve problems of raising effectiveness of financial activities of a state, local authorities, financial and operating activities of organizations, stimulating the quality of public and commercial administration in Russia.