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This allows the public to see where their taxes are being spent and the way it is addressing the short / long-term issues. (Ekstedt, 2012) (Holzer, 2011)
Public choice and the political processes
The public has a choice as to who they want to represent them and the way various services will be provided to them. This means that they will select individuals who are closely aligned with these beliefs and can meet their larger objectives. The political process will involve having an open discussion of how different services should be provided and the way numerous resources will be allocated. This allows the public to determine if a particular candidate will meet their objectives and if they can provide them with the resources they require in meeting these goals. (Ekstedt, 2012) (Holzer, 2011)
elate these topics to the budget process, its participants, and the key information used to make budget…… [Read More]
Public Finance Proposal
New York State Financial Budget
2010/2011 budget New York
While preparing the 2010/2011 New York budget, efficiency and transparency is to be put into consideration. The budget is prepared with recommendations from the executive board, the Director General, who decided on the priorities of the budget, while other field offices, BB and sector bureau also gave their contributions and estimates. Drafting of the budget and presenting it to the 181st session of the board undergoes revision, later presented to 182nd session, which the general conference approves during the 35th session.
The enactment of the budget was in regards of section 401 and 423, and according to Military Construction and Veterans Affairs and elated Agencies Appropriations Act of 2010; sec 9001 appropriated funds for the department of defense. Sec 9003 executed and supported operations in overseas as long as there was supervision. Education sector had an accountability system…… [Read More]
Public Finance and Legislative Procedures: Tax Incidence and Legal Liability
Why is the incidence of a tax independent of legal liability for the tax?
The incidence of a tax measures the distribution of the tax burden among producers and consumers. The party that remits the tax, however, is independent from whoever ends up bearing the tax burden in the long run. This is because the inelasticity of the demand and supply of a good determines the portion of tax that will be paid (Hyman, 2011). The party that may be legally liable to pay a tax may be different from the party that ends up bearing the tax burden because when a tax is imposed on a good, it affects the supply and demand of that particular good, which changes the equilibrium prices. These changes in prices are the ones responsible for the shifting of the tax burden away from…… [Read More]
Public Finance and Legislative Procedures: The Social Security etirement System
Can the Social Security etirement System be declared bankrupt?
When Franklin D. oosevelt approved the Social Security Act in 1935, he intended to rid American citizens of the burden of catastrophic wage loss that would arise from the disability, death or retirement of a member. The privatization of social security, however, allows workers to handle their retirement money via personal accounts. In essence, the underlying notion is that retirees are given the liberty to put their retirement money into the financial markets, which will earn them higher returns than with government invested funds. Private pension sponsorship significantly reduces the amount of retiree incomes that Security Systems receive (Schieber, 2012).
It is, however, impossible for Social Security to go bankrupt. This idea mostly arises from a major misconception about how Social Security etirement Systems work. Each person contributing taxes to Social…… [Read More]
The inability of the general population to govern themselves have relegated this group to the subjection of the government and those who have the power in society. It is blaringly obvious that people in general have very little competence when managing finance and public financing operations should only be performed by those who are in the elite public arena and have been educated to do the right thing. The purpose of this essay is to discuss and highlight the major principles of public finance. This essay will discuss the relationships between this practice and its participants and incorporate key information that is useful for making budget decisions
According to Laws.com, public finance is "a description that looks at the governmental effects, efficient resource allocation distribution of income, and macroeconomic stabilization of the expenditures and revenue of public authorities." The word "government" is also important to investigate.…… [Read More]
here is some circularity to this argument; government needs to "scale up infrastructure investment to reduce production and trade costs" (Mubiru, a. 2010. PP. 5), yet cannot do so without consistent revenue streams.
he property tax represents a broad-based scheme "which offers a significant, and largely unexploited opportunity for taxation in Africa" (Mubiru, a. 2010. PP. 5). Property taxes "can grow with urban development and the corresponding need for urban infrastructure…and are progressive, scalable, and administratively feasible" (Mubiru, a. 2010. PP. 5). In Botswana "local authorities levy rates on property owners" (Deloitte.com. Botswana. 2012. PP. 1-2) with sale rates not exceeding five percent (Deloitte.com. Botswana. 2012. PP. 1-2). he "rates" provide a solid funding base which allows for continued upgrade and development of infrastructure. Zimbabwe by contrast has no property tax rate which has left their infrastructure open to decay and stagnation. he rule for policy onlookers should be a…… [Read More]
According to Fickes, GAS 34 changes traditional government accounting to give the readers of government financial reports a more accurate reading of everything (2002). Private accounting firms do not follow these standards because they are not responsible for being accountable to the taxpayers.
udgeting and Financial Reporting in the Government
The government cannot just act as it wishes when it comes to budgeting and financial reporting. For this reason, there is the Governmental Accounting Standards oard. It is important to budget in order for there to be accurate financial reporting of government operations. The relationship that government budgeting has to financial reporting is that is has the effect of keeping the budging above board and discouraging anything that is not considered above board. Knowing that the budget can and will be made available to the public makes those doing the budget accountable for their actions.
Kloby says there may be…… [Read More]
Finance in Public Administration
One of the important components towards the successful delivery of services to the public is management of financial resources. Financial management in public administration basically entails budgeting as well as budget execution, monitoring, and accounting with respect to planning and programming of public administration. In essence, public finance administration basically entails raising revenue from the public, allocation of public funds and other financial resources, and managing public assets. These processes are usually carried out to help ensure that the government has adequate money to finance all its activities. In this regard, proper financial management in public administration is crucial towards preventing misuse of public money or resources as well as ensuring compliance with the relevant financial regulations. This paper examines finance in public administration in relation to the budgeting process and budget decision-making based on the fundamental principles of public finance.
Fundamental Principles of Public Finance…… [Read More]
Law Enforcement and the Budget
The most important stakeholders in the public finance of law enforcement organizations are the tax payers. Without taxes collected, the government could not afford to fund organizations. Municipal taxes, bonds, grants and more all go to fund law enforcement organizations. State and local taxes pay salaries and pensions for retiring officers, and yet still many municipal, state and federal level law enforcement agencies are required to borrow in order to meet structural requirements. Many cities run a continual budgetary deficit, with mounting debts putting pensions at risk. This is common across America with states like Kentucky and Illinois essentially sitting on a time bomb of debt. This impacts the other stakeholders—the workers in the law enforcement agencies, as well as the public, who are served by the law enforcement workers and the elected officials who must oversee the plans for allocating sources for budgetary purposes.…… [Read More]
public administration and considers the effect of their writings and theories on the field of public administration. It has 6 sources.
An analysis of the core areas of public administration and how these areas interrelate with one another; taking into account the theories and writings of major players in the field of public administration and how their views shaped these areas.
The principles of public administration are the clearest description of its usefulness to society and government. This administrative science is barely 100-125 years old in the U.S. And a little over 200 years old in France. Tracing its roots back to Napoleon, public administration evolved largely as a result of the increasing complexity of society, economy and technology. The French system of Public Administration is still considered by many to be the world's best. Compared to Germany and Britain, the U.S. was relatively slower to utilize public administration in…… [Read More]
One of the newer concepts in public policy is the idea of the public-private partnership, or PPP. Essentially, PPPs are when the government works with private enterprise on a project. Public projects tend to be those that benefit society as a whole, and traditionally governments as representatives of the people have been the drivers of such projects. Private enterprise has often specifically avoided many types of projects because of the financial or operational risk involved. A public-private partnership is a form of development where government and private enterprise share the risk and capital expenditure in a project. The split will be different for every project, but it often involves the government taking on some risk in order to facilitate the project moving forward, on the principle that the project moving forward is in the best interests of the general public. In some instances, the government utilizes public-private partnerships to…… [Read More]
Philosophy of public finance
All states must raise some sort of revenue to pay for the basic services it must offer to protect its citizens and provide them with needed services. The degree to which the state should act in such a supportive fashion may vary depending on the perspective of the individual but the notion that some state financing is needed for a nation to be functional is difficult to debate. Taxation is one of the primary methods through which the state extracts revenue. Although there are many different competing philosophies about the purpose of government financing, most would agree that the government can serve as an engine of growth if it allocates its assets in an appropriate manner.
One of the most influential texts defining a philosophy of public financing was that of ichard Musgrave's The Theory of Public Finance. Musgrave's (1959) text stressed that "normative…… [Read More]
Public (Government) Finance
This essay examines the debate over extending unemployment benefits. The essay reviews the arguments in favor of and against further extensions, and the implications for economic and social policies. After exploring the alternatives, I make a recommendation and discuss means of measuring the success or failure of my recommendation.
The Apparent Problem/The Facts
Unemployment insurance is compensation that is provided to workers who become unemployed through no fault of their own. Unemployment provides compensation for a specific amount of time, or until a worker finds a new job. Regular unemployment provides benefits for up to 26 weeks, based on the number of weeks that the unemployed person worked in his or her claim year (Doyle, 2011).
Extended unemployment benefits provide compensation for a longer period of time, and are available for workers when they have exhausted regular state unemployment benefits during periods of high unemployment.…… [Read More]
Property tax relief is a subject that arises when the elderly or poor struggle to meet their property tax burdens. If they are long-term residents, they can be caught up when their neighborhood sees a dramatic increase in property values. There are sometimes mechanisms that governments use in order to provide relief.
Both tax credits and rebates can be used to help return some of the money paid or that is owing from eligible property owners, in order to help relieve from of the burden. This method is direct, and puts the money back into the hands of those who need it. However, this method relies on being able to determine who needs relief. People often have control over their financial situation so an inability to pay does not necessarily reflect somebody with a lack of opportunity to pay. It can be hard to qualify people for relief because of…… [Read More]
Any Asset Pricing Theory forms the basic foundation of finance theory, in that it deals with the value of any asset under unknown or uncertain circumstances. The relationship between an asset and its price is the mainstay of the asset pricing theory: the lower the price, the poorer the expected performance. The Arbitrage Pricing Theory derives from this theory. The basic idea in the APT theory is that any sort of risk in asset returns must not affect the pricing of the asset in any way; it must depend on the covariance of assets with the risk factors. (Bayesian Approach of the Arbitrage Pricing Theory) The APT originated from Stephen oss, 1976-1978. oss had used a statistical procedure for assets returns, with the belief that there are in existence no arbitrage probabilities. The APT must of necessity involve a lot of risk taking processes, (Definition of Arbitrage Pricing Theory.)…… [Read More]
Sorkin, however, posits no argument per se. ather, his book offers insight into how the financial crisis manifested from a far more personal perspective of those involved than anything else. The book is informative in nature, and give insight into some of the thought processes and activities those on the outside may not otherwise be exposed to or privy to. The title of the book sums it up best, and the book outlines how the banks and the primary players and stakeholders have become too big to fail. The book highlights the self-interest of those in charge of some of the biggest financial institutions in the world and their blatant disregard for Main Street.
The book has a place in the larger academic debates raised within public knowledge because it adds to the public's real knowledge of those involved in the nation's financial industry and government offices. Instead of speculating…… [Read More]
Finances in Nursing, Interview
Description of the role of a CFO within selected organization
A CFO has to have a sharp understanding of finance. Individuals presume that CFOs have that; however one would state it's not in all cases. It's likewise being capital-market-savvy, over and above the oversight of company operations, which undoubtedly the controllers are accountable for, it's additionally being somebody who is interacting the essential strengths of the business well (Corson and Miyagawa, 2012).
A great CFO thus within the selected organization is somebody who in fact builds equity assessment models for their own business. That is vital since exactly what occurs is, when somebody does that, they in turn have the ability to offer additional information that is better to some other business entity who is basically attempting to come up with an evaluation. Concise disclosure is an unbelievably vital part of the job description of the…… [Read More]
Public Goods and Thei Impact on Society
Public institutions ae set up and entusted with ensuing that the sevice which they ae chaged with is effectively implemented and the citizens live within the acceptable standads. In the context of this pape theefoe, thee public goods will be of inteest; national secuity/safety, public health and oads and bidges.
National secuity o safety of the nation is the pivotal public good that each individual in the US needs not only to get but also feel that they get. Each citizen needs to feel safe within the US in ode to be able to engage in economically beneficial activities. It is the single sevice that govenments all ove the wold stive to invest maximum amounts and even ceate liaisons with othe nations to stengthen since it is upon the foundation of the safety of a nation that all othe factos like investments, social…… [Read More]
A sales tax is particularly regressive because low income people spend a greater percentage of their income. They might spend 100% of their income, which means they would pay a sales tax on all of that money. A wealthy person will spend more in terms of dollars on a sales tax, but will also not spend 100% of his or her income. Some of that income will be saved, meaning that not all of the wealthy person's income will be subject to this tax.
For poor people a higher portion of income will be taxed, and there is also less margin for tax increase in their budgets. A wealthy person can afford to pay a little more tax and still have a roof over his or her head, and food on the table. At lower income levels, even a moderate sales tax like 5% is going to put those things…… [Read More]
A significant amount of effort is dedicated towards the process of developing new public programs since such programs are not similar to business enterprises. Therefore, the process of public budgeting requires consideration and inclusion of public policies. In essence, public policies should be translated into discussions regarding the annual budget through evaluation of the monetary demands of such policies on public revenue. During this process, policy makers should be bound by the financial requirements of the various alternatives. As part of translating public policies into discussions on annual budget, policy makers should eliminate certain policy alternatives from consideration if the alternatives create huge fiscal demands on public revenue. The need for policy makers to eliminate such alternatives is fueled by the fact that the government is permitted to collect revenue only as long as the benefits of the generated revenue exceeds the loss realized by contributors of the…… [Read More]
Public Admin General Budget Allocation
Social Insurance (aid to the elderly, disable, unemployed)
Public Education (K -- Universities)
Environmental Management (regulate clear and clean water; regulate the handling & disposal of hazardous & radioactive wastes)
Support of Cultural Institutions (e.g. libraries, museums, zoo, etc.)
Conservation of Natural Resources
Management of National Parks % Lands
Manage Law and Order
Build and Maintain Roads, Dams, & Other Infrastructure
A critique of the general thought process used to reach a consensus on the various public policy categories
In choosing the public policy category, it is crucial to determine the necessary resources and measures that should prioritize the percentage budget allocation for the federal government. Security of the federal government is crucial to the development and growth of the nation. This makes security reasonable to command large portion of the budget allocation.…… [Read More]
Public Traditional Negotiated Cash Offer:
Explain the method, and how it will raise the firm's capital and how it will benefit both company and investors
Explain each of the three types in the table below and give examples on each type
Explain how each type of them is used in raising capital and how it benefits the firm and investors and underwriters ( If it will not benefit them please state it clearly)
With this method, the company works through an investment bank using the bank as an intermediary for selling its shares. This method may raise the firm's capital since the investment bank work towards making the shares more enticing, as well as sometimes serving as underwriter and using its reputation and skills to sell the stock. The investors may benefit since the bank's intervention grants a greater reliability and guarantee to the substance of the stock, and since…… [Read More]
Public University System
It has a total of 234 thousand students on 10 different campuses. They were first organized 144 years ago and have been concentrating on delivering ground breaking educational services to stakeholders. ("Annual Financial eport," 2011) To determine if the university is fiscally sound requires carefully examining their financial statement and audit reports. This will be accomplished by studying the employee pension plan, analyzing how economic conditions will impact future growth, reviewing the treatment of federal grants and comparing how endowments are calculated. Together, these different elements will highlight the financial strength of the university and the way this is impacting the quality of services that are provided.
Identify and analyze the employee pension plan disclosures in the financial statements. Evaluate the impact of the GAASB proposed changes to the pension liabilities on the financial statements of the institution.
In the case of the employee pension plan, these…… [Read More]
This demographic understands how investment markets work and is likely to make the smart and responsible choices with these investment funds to ensure that they have a good retirement.
The demographic that is least likely to benefit from such a plan is the demographic at the lower end of the income scale, blue collar workers with less education, minorities, new immigrants, and rural people. These demographics are generally less wealthy to begin with, so they rely more on the Social Security benefits than the demographic that benefits most from having a defined contribution plan for Social Security.
A partially-privatized social security system therefore primarily benefits the type of consumer that is in the best position not to need Social Security at all. Such consumers can use their knowledge of financial markets to enhance their wealth or better protect it. Consumers that are less likely to benefit, having little knowledge of…… [Read More]
Conclusions -- Was TAP Necessary -- A five member Congressional committee echoed a number of criticisms regarding TAP that many consumers, academics, and fiscal analysts were considering. What exactly was the Treasury's strategy with the $700 billion dollars for the supposed bail out? How can Treasury explain the significant gaps in their ability to find hundreds of billions of taxpayer money? In a nutshell, it appears that the departments that control the money given by the Congress (from the American people) have no ability to ensure that the bailed out banks will do what was needed and lend money; have no real standards of measuring success of failure of the program; and for ignoring pointed and specific questions from Congress about their performance (M. Crittenden).
The fact that many of the institutions bailed out with TAP funds, funds from the American taxpayer, did not distribute these funds back into the…… [Read More]
In terms of similarities, each of these budgets contains roughly the same basic format. hile the specific charts may differ, each budget separates revenue sources and attempts to break those down. The budgets also explain the expenditures, and typically break these down to each individual program within the department.
A similarity between three of the budgets (Federal, Florida and Newark) is that they rely heavily on tables and written explanations. hile these tables are necessary in any budget, it is interesting to note that the Newark budget is significantly more visually-oriented than any of the other budgets. The graphic representation of some of the figures makes for a more user-friendly presentation. The other budgets are less likely to be understood by those without some financial training.
Each of the budgets is produced to unique specifications. There appears to be no standard with respect to the production of public budgets, so…… [Read More]
There is no evidence yet that federal involvement in the education system has improved outputs, which would be a prerequisite for efficiency. Part of this problem is data deficiency -- it is simply too early to tell if students reared under NCLB are more competitive because the first wave have barely left school, if they have left at all.
ith respect to Liberty, certainly federal involvement in education funding has constricted liberty. Even a small amount of federal funding can result in a strong federal influence on policy (Shelley, 2007). This influence on the system contributes to the erosion of state control. hile the states control the curriculum de jure, they are subject to varying degrees of influence from the federal government, depending on their dependence on Title I financing.
US Department of Education website. Retrieved April 24, 2009 from http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-org-us.html
No author (2007). Congress to eigh 'No…… [Read More]
The difference in the interest rates would have predicted a much greater change in the exchange rates between these two countries. This begs the question as to why the rates did not change further.
There are a few possible explanations for this discrepancy. The first is that the expected inflation in Brazil failed to material, and the second is that inflation in the U.S. was higher than expected. U.S. inflation is not high, but it is growing, whereas interest rates are not growing yet. In contrast, the Brazilian government's response to its inflation situation is more in line with what would be expected.
The real has underperformed expectations, and there could also be domestic factors. If we look at the six factors that affect exchange rates, we can see that there may be issues with respect to public debt (if Brazil has performed worse than expected) or political stability and…… [Read More]
The FCF-based valuation model is based on the following formula:
EBIT (1-Tax Rate) + Depreciation & Amortization - Change in Net orking Capital - Capital Expenditure
is the free cash flow each year, C0 is the original cash outlay, and r is the discount rate. The free cash flows in this type of calculation are only those cash flows that are incremental to the investment decision. Thus, they do not include such non-cash items as depreciation or amortization expense, and they do not include either sunk costs or non-incremental flows like overhead allocations. The r is the discount rate, and the firm can select its discount rate from a number of different options. The most common, and arguably logical, is the firm's weighted average cost of capital. This reflects the firm's cost of equity, its cost of debt and its capital structure, with allowances for preferred shares…… [Read More]
Having a clientele also allows the agency to gain a sense of internal direction as well. Employees of the agency have a more clear sense of mandate when there is a definable clientele as well. This helps with direction, with effectiveness and with efficiency.
Question 2. Issues assessments are conducted so that government or its agencies can learn about the variety of issues surrounding a specific subject. The issues assessment can be conducted with respect to a program or proposed program, with respect to a parcel of land or proposed development, or with respect to a subject matter such as transportation, housing, homelessness or other key issue. ithin each of these issues will be a number of other issues of import to the individual stakeholders. It is the purpose of the issues assessment to uncover each of these sub-issues pertaining to the subject, so that the best course of action…… [Read More]
Public Budgeting Process
The options for financing President Bush's plan to partially privatize Social Security might well be as unworkable as his plan to cut taxes five times, while increasing defense spending by starting two wars in the Middle East -- to say nothing of his other ambitious, but underfunded, plans such as No Child Left Behind. On the face of it, the near-term prospects for national solvency in any form of Social Security privatization -- especially in the undertaxed, overspent configuration of the current U.S. budget -- conform to the old adage, slim to none. A quick glance at the figures even during the pre-tax-cut, economic boom times of the middle of the Clinton presidency foreshadow the potential for disaster lurking in Social Security privatization. At that time, U.S. national debt amounted to "not $5 trillion as our politicians tell us -- it is between $14 and $17 trillion!"…… [Read More]
The problems with the budget are said to arise from politicians who are unable to make difficult decisions. The problem with these laws is that they do not explicitly force politicians to make those decision. GRH provides targets for the politicians to work towards, creating motivation, and the BEA provides a framework for penalizing inaction, but neither truly forces politicians to make the tough choices.
Real political solutions involve actually making those tough choices. This is not to discount the value of having these frameworks to guide the negotiations and hold Congress to the outcomes of those negotiations, but the negotiations themselves are the critical component to the budget problem. For example, if the sequester is initiated, Congress can follow it up with laws to build back some of those spending cuts, and it would likely do so quickly. There are no provisions in the BEA, for example, that call…… [Read More]
Sinking Fund #7
Mortgage bonds #15
Accounts payable #5
Unfunded pension liability #6
General obligation debt #8
Revenue debt #4
Special authority debt #17
Lease-backed debt #16
Traditional capital financing #1
Public-private capital financing #12
Creative capital financing #18
Financial engineering #20
Operating Budget #3
Capital Budget #14
Question 2. There are several warning signs that a municipality is in financial trouble. One is unfunded pension obligations. If the municipality is not putting enough money into its pension fund, it may be having difficulty covering regular operating expenses. Likewise, if the municipality has a sinking fund that it is no longer contributing to, this could be a sign of distress. If the municipality's debt rating is reduced, this is another sign. It means that the municipality's balance sheet is believed to have deteriorated.
There are other signs of…… [Read More]
The government of Canada has outstanding debt of approximately $550 billion. To service the debt, it issues bonds. The government has also announced previously that it is committed to fighting inflation. Please explain clearly how government debt management policy can lend credibility to the government's fight against inflation. In doing so, provide a clear explanation of the key differences between indexed and nominal debt.
hen a government wishes to curb inflation, one of the most effective ways to use the monetary supply to do so is to sell securities, in short through the sale of government bonds. By selling government securities, the government takes money or liquid capital out of the economy, and makes it more attractive to save rather than to spend money. Also, selling government bonds can reduce government debt. Reducing government debt is an important goal for any administration because the higher the debt, the less that…… [Read More]
... Only one in 100 high school seniors could write a coherent response of more than one paragraph to an essay question; and only 7% of high school seniors could read at advanced level." (Hanushek)
In the light of this vast body of very forceful evidence, we cannot but agree that our public education system has deteriorated to the extent that we can no longer expect our public schools to produce quality students. Most of our public school students lack even basic knowledge of scientific facts and mathematical concepts and their communication skills leave a lot to be desired. With such students we cannot hope to compete on a global level, not at least in the long run. This explains why more professionally qualified people from other parts of the world are so rapidly taking over American job market.
The National Commission on Excellence in Education, a Nation at…… [Read More]
("On the Ground Floor of Global Growth," 2010)
The average rate growth in net income is 6.5%. The below table is illustrating the different projections over the next three years.
Net Income Estimates
("On the Ground Floor of Global Growth," 2010)
These figures are highlighting how the net income will be consistently increasing between 2011 and 2013.
Earnings Per Share
("Yum rands," 2010) ("On the Ground Floor of Global Growth," 2010)
The average rate of growth for the EPS is 15.05%. The below table is: showing how these numbers are expected to increase in the future.
Earnings Per Share Estimates
("On the Ground Floor of Global Growth," 2010)…… [Read More]
Six Steps in the Budgeting Process. Bottom-up vs. Top-down Budget Plans, 2010).
The budget rules that are prepared by top management are passed down through successive levels within the company. Managers at each level may make additions and offer greater detail for their subordinates. The managers at each level prepare the plans for items under their control. The budgeting process will caution management of possible problems that may occur. By knowing the problems, solutions may be formulated. For example, at the valleys in cash flow, a shortage of cash may occur. Knowing this ahead of time allows management to arrange for a short-term loan for the financing need rather than face an unexpected financing crisis. In a similar element, planning allows for a smooth manufacturing program to result in both lower production costs and lower inventory levels. It steers clear of a crisis circumstances requiring overtime or high transportation charges…… [Read More]
The ruling should also account for the fact that it is actually in the best interests of both Sam and the bank to honor Sam's claim. Indeed, "building an ethical reputation among employees, customers, and the general public pays off," and "Among the rewards for being more ethical and socially responsible are increased efficiency in daily operations, greater employee commitment, increased investor willingness to entrust funds, improved customer trust and satisfaction, and better financial performance" (Ferrell, Fraedrich, Ferrell, p. 17-18). While it is likely the case that Sam will emerge from the case dissatisfied regardless of the ruling, if he is denied his claim he would be more likely to voice his displeasure to friends and the general public and this would cost the bank more customers than if they were to win the claim. Moreover, it is quite possible that the bank is faced with customers in the same…… [Read More]
3. James Flanigan's article "Biotech Tries to Shrug off Setbacks," from the New York Times and found here: http://www.nytimes.com/2009/09/17/business/smallbusiness/17edge.html?_r=1 outlines the difficulties that biotech firms have had recently with respect to securing financing. The investment climate is different for several reasons. The first is that the traditional providers of venture capital to biotechs have seen their asset values plummet along with the stock market. As a result, industry insiders are pessimistic with respect to the availability of venture capital in the coming years. The remainder of the article explains that despite the gloomy outlook, there are players in the industry that are optimistic, in part because they perceive the industry as sufficiently strong to attract capital even in a tight VC environment.
The article's guardedly optimistic finish leaves the question unanswered as to the consequences of the current sluggish VC environment being sustained for the next several years. This is…… [Read More]
Consortiums and collaborations
Harvard is part of the original Ivy League sporting conference, encompassing Yale, Princeton, Brown, the University of Pennsylvania, Cornell, and Dartmouth. Harvard students are also able, with permission, to take classes at MIT and at Harvard graduate institutions. Harvard offers extensive study abroad options.
Harvard has 41 Division I intercollegiate varsity sports teams for women and men, more than any other Division I college in the country. Harvard is also a proud member of the Ivy League, which is a sporting conference of some of the nation's finest academic institutions (Athletics, 2009, Harvard College).
Harvard has an extensive network of student-directed community service organizations: "Students direct over 120 different programs in and around the Greater Boston area" (Community outreach, 2009, Harvard College). Student-lead groups include afterschool tutoring programs for the disadvantaged members of the community, health awareness and drug abuse prevention programs, mentoring…… [Read More]
The guiding hand of Palamon could add eal value hee, inceasing the oppotunities fo gowth.
Moeove, the apid pace of technological change the industy is facing povides stong gowth oppotunities. Should TeamSystem be poactive and take a leading ole in the adoption of new technologies, they can steal maket shae fom slowe competitos. That they need to do an ovehaul on many of thei pogams to bing them to moden platfoms seems like a geat time to move diectly into a leadeship position - the money will be spent anyway.
Thee ae stong oppotunities fo exit. If TeamSystem can capitalize on oppotunities fo gowth, they can position themselves fo eithe a sale o an IPO. In tems of an IPO, TeamSystem is expected to show steady gowth. The maket is kept elatively closed by the complexity of the Italian taxation system. Futhemoe, the company has a stong leade.
The oppotunity…… [Read More]
Unfortunately, the influence of the healthcare industry lobbyists is tremendous. One need only look up the publicly available information of how much large healthcare interests contribute to members of the U.S. Congress in any given year to understand why healthcare legislation continues to favor corporations over the members of the American public, almost half of whom cannot afford health insurance (Kennedy, 2006; eid, 2009).
Challenges, Problems and Next Steps
The principal problem responsible for the perpetuation of this issue is that political lobbying is currently an accepted process in the U.S. That poses tremendous challenges, largely because the very individuals whose attention, resolve, and action would be required to rectify the situation are those who currently benefit the most from it: elected members of the U.S. Congress. Unfortunately, only a small minority of those stakeholders -- most notably epresentative Anthony Weiner of New York and Senator Bernie Sanders of Vermont…… [Read More]
Public Health Preparedness
The concept of 'public health preparedness' (PHP) has been garnering recognition worldwide, given the global-scale threats which are constantly encountered by professional healthcare organizations, including bioterrorism, Ebola, the West Nile Virus, and influenza. Preparedness approaches have brought about improvements in the overall healthcare system, by enabling swifter responses to diverse kinds of hazards across the globe. A majority of PHP measures adopted in America are government-judged; this gives rise to concerns pertaining to militarization. Still, preparedness programs in other country-level settings don't essentially indicate comparable implications. The global significance of health sector preparedness has served to increase governmental need of resolving the concern by means of financing, advances, and maintenance approaches which aid speedy response to every kind of crisis. However, akin to all other ideas, the PHP concept is also accompanied by certain major challenges, like the threat of public health militarization. Yet the associated advantages…… [Read More]
Target's chart, however, shows that the company has tracked the market and GDP fairly closely, indicating that perhaps it does not trade the way a discount retailer should.
Johnson & Johnson
JNJ is a pharmaceutical and consumer products company. It competes in pharmaceuticals, consumer products in the health and beauty segment and in medical devices. The company was founded in 1886 and today is a multinational conglomerate with operations in 57 countries and with approximately 250 subsidiaries.
To a certain extent, JNJ's product line is price inelastic. Pharmaceutical demand is tied to overall consumer demand and the state of the economy, but not to the same extent that many other consumer products are. As a result, JNJ would be expected to have less significant swings in its stock price relative to the GDP, other macroeconomic indicators, or the Dow Jones. The stock, however, has traded roughly in line with the…… [Read More]
This role is in response to clients' demands for a single trustworthy individual or firm to meet all of their financial needs. However, accountants are restricted from providing these services to clients whose financial statements they also prepare." (U.S. Department of Labor, ureau of Labor Statistics, 2009)
1. Public Accounting
The work entitled: "The Reality of the CPA's Role" states that modern CPAs work "behind the scenes as trusted advisors in nearly all significant business decisions. Successful accountants display the ability to think strategically and creatively and to be problem solvers and business advisors." (Douglass, 2006) Douglass states that the views of the CPA are widely varied "...whether from the viewpoint of the investing public or from the perspective of the companies that engage CPAs to audit their financial statements or perform other functions. In fact, many people not involved in the business management or accounting profession may perceive CPAs…… [Read More]
Private-label securitization has basically ended, and Fannie and Freddie were positioned into conservatorship by their controller subsequent to working in a dangerous and unsteady way. The job currently is to figure out how best to restore a connection between homebuyers and capital markets in a manner that deals with the problems of the old arrangement (Bernanke, 2008).
One alternative that has been talked about is that of privatizing the GSE's and letting them contend in the marketplace as private mortgage insurers and securitizers. In order to get rid of the assumption of government backing and to arouse competition, some suggestions supporting privatization call for collapsing the corporation into less significant components prior to privatizing them. Privatization would resolve a number of troubles connected with the present GSE model. It would get rid of the disagreement amid private shareholders and public policy and probably reduce the total dangers as well (Bernanke,…… [Read More]
This system is stated to be flawed as "The school board members have a vested interest in the success of the existing local school system and are reluctant to introduce a competitor into the marketplace, said charter school supporters." (O'Donoghue, 2010)
Summary and Conclusion
It is very likely that laws will be changed and policy reformed relating to charter schools in the state of Virginia as to do otherwise means to miss the $350 million in funding opportunity for Virginia's school system and it appears highly unlikely that in the present state of the economy that Virginia will be willing to shun this much in educational funding.
Charter Schools, When Explained, Get Support (2009) Augusta Press. 16 Dec 2009. Online available at: http://augustafreepress.com/2009/12/16/charter-schools-when-explained-get-support/
Schaeffer, Adam . (2006) No, Virginia, There is No such thing as School Choice. 29 Oct 2006. CATO Institute. Online available at: http://www.cato.org/pub_display.php?pub_id=6756
raunlich, Christian (2009)…… [Read More]
Bush, who declared that corporations which jeopardized the investments and jobs of millions of individuals should pay their dues. The United States Senate and the House of epresentatives also became involved and proposed numerous modifications.
The pillar of the changes occurred in financial reporting after the accounting scandals is based on increased transparency and more support in conducting audit operations. The XBL system for instance will allow the Securities and Exchange Commission to conduct analyses in a more efficient manner. All efforts to improve the financial reporting system have been condensed into the Sarbanes-Oxley Act. It represents the most important regulatory act of the past 70 years and it is applicable all around the world; it addresses issues that refer to all players in the corporate reporting chain.
Bautista, L.., 2004, Implications and Effects of Sarbanes-Oxley Act, Securities and Exchange Commission, etrieved at http://www.adbi.org/conf-seminar-papers/2006/03/30/1739.implications.effects.sarbanesoxley/onMarch 13, 2009
Cooper, C., 2007,…… [Read More]
Therefore, while pricing strategies are different, most firms are seeking to differentiate themselves with features they believe will attract their target market, and the pricing reflecting the target market.
If a firm such as Samsung wishes to reduce costs there are a number of approaches which may be utilized. Most manufacturers are already using outsourcing for manufacturing either the handsets or some of the components. Costs are often saved by going to firms in countries where there is the ability to makes gains of comparative advantages, especially in areas where wages and overheads are lower. China is particularly well-known as a manufacturing base, but to save costs it would be possible to move to even lower cost countries, such as the African states where there is a lower level of economic development. However, this may also have costs, as the staff may not be as skills and quality…… [Read More]
Department of Finance is the lead agency supporting the Government's key economic and financial policy outcomes through the provision of advice and coordination of resource allocation for Government programs. It also provides financial services to the Government and the community, covering asset and liability management, collection of state taxes and insurance and superannuating administration. The organization is made up of a diverse group dedicated people with a wide range of skills, including accounting, finance, economics, business service, insurance, superannuating and management.
The Finance Department is comprised of three divisions:
Finance Administration Division
This division is responsible for the overall direction and policy implementation. It is also responsible for coordination of the Finance Department, which includes:
a) Budgeting and Accounting
Finance is responsible for the preparation, implementation and monitoring of the City's Operating, Utility and Capital budgets. The focus is to administer these processes to meet the needs of the community,…… [Read More]
The private financing initiatives
When the Private Finance Initiative was launched in 1992, it was seen as a mechanism to achieve extra public-sector investment by bringing in private finance for capital projects as well as a means to improve the public procurement process that was routinely criticized for poor project management and construction cost overruns. PFIs cut across a range of public services, including hospitals, prisons, public transport, roads, and schools. Each PFI depended on the public-sector purchaser to specify the outputs or outcomes it hoped to achieve, and put private-sector capital at risk for the delivery of those outputs or outcomes. By relaxing the emphasis on input specification, PFIs sought to mobilize innovation and optimize whole-life costs and quality to meet the public requirements. The financing mechanism served to reinforce the long-term nature of the relationship by linking payments to the achievement of outputs over the life…… [Read More]
Nonprofits of all kinds have to fight in these tough times to earn donations or even some business-related revenues associated with their missions. But many people forget that the fiscal responsibility of these public benefit corporations extends beyond the act of earning their money or gathering donations. They need also to accurately report the revenues they earn and ensure that the dollars are spent in accordance with their promises. Traditional business investments can be lax in the pursuit of profits, but charities have to be very honest as they try to help others.
The job of the Financial Officer is to ensure that the records and actions of the club are as consistent with these nonprofit and social benefit expectations as possible. This person (sometimes with a committee) must be part of the leadership team and must take the steps necessary to help the organization's director and governing…… [Read More]
This in turn gives the financial professional better idea of the stock's risk behavior.
The equation used in this security market line relationship is as follows:
Mathis, CAPM, par. 3)
The measure of systematic risk is considered Beta or bi while E[Ri] is equal to the expected return on asset I and Rf is the risk-free rate. E[Rm] is the expected return on the market portfolio and E[Rm] - Rf is the market risk premium for the stock. Once the Beta is known then the risk and rate of return can be found.
APT is different because not only can forecast for the long-term, it can also work for the short-term scenario. This fact makes it the better of the two theories because it gives the financial professional more tools to assess risk and the rate of return. APT does this by using a model that captures all the data.…… [Read More]
Finance and Accounting Application that provides finance and accounting operations require all the possible computer security measures to be adopted. In this case, two patterns call for an incident response plan:
The company's computer networks and systems are at a higher risk to threats like intrusions, computer viruses and exposures
Computers are widespread through the company; the company depends heavily on computers and cannot afford service denial
Therefore, the following security incidents will be an essential:
A computer virus might be copied to a LAN server; within seconds, thousands of other computers will be infected. This will require the efforts of different people and several days to achieve recovery.
Back-ups can be infected with viruses resulting in re-infection of other systems; recovery will require more expenses and time
System intruders could copy passwords and distribute them across large networks
Outbreaks of system or virus penetrations will cause embarrassment and possible…… [Read More]
Public Policy and Service
Currently, I work on homeland security issues, with a focus on enforcing Federal egulations. My overall plan is to remain with the government with the likelihood of retiring from a governmental agency. My professional philosophy revolves around the nature of service, and I believe that my skills, enthusiasm and patriotism all combine in a better way by using my skills to help the United States.
Before this recent job change, I was a bank regulator. I transferred to Homeland Security because of its importance in the contemporary environment and its mission to protect America at home and abroad. When one stops to reflect a moment, we see that the world is a far different place than it was prior to the events of 9/11. In fact, as a direct response to the terrorist attacks on the United States in September, 2011, the Office of Homeland Security…… [Read More]
One of the most common challenges that firms will face is taking a company public. This is because the timing must be right and there needs to be clear objectives as to where new investment capital will be utilized. Those firms that are taking these factors into account will have a more successful initial public offering (IPO). In the case of Avaya, the company is considering an IPO in the near future. However, there are challenges in determining what tactics should be utilized to attract the most interest. To decide this requires examining: the type of investors that Avaya is trying to draw, the lesson learned from the Google / Morningstar IPOs, the advantages of each type and the costs / risks. Together, these different elements will provide the greatest insights as to how Avaya should go public.
The type of investors Avaya is likely to attract
The…… [Read More]
public goods, private goods, common resources, and natural monopolies.
Public goods are when there is a focus on providing benefits to someone without them having to offer different forms of compensation. This is because the interests of the community will outweigh the need for making any kind of profit. Some examples of this include: fire, police, and national defense. Private goods are those products that are sold directly to consumers with the intention of making a profit. This is when a private producer, will realize that there is unmet demand and provide this to consumers. In exchange for delivering these services or products, they will receive some form of compensation. (Mankiw, 2011)
Common resources are those reserves that are available to everyone. The most notable include: the fish in the ocean, the air that everybody is breathing and public lands. While natural monopolies are when there is one organization which…… [Read More]
In "The Annapolis Report" -- a review of the 2010 legislative session -- the MPPI explains that due to the governor taking funds from the HUR all the counties' share and the Baltimore City share will be "significantly reduced" (MPPI). In fact the counties' share will "have been all but eliminated" the MPPI continues, quoting from an article in the ashington Post that asserts "…counties will have to contend with almost no 'highway user' revenue."
Moreover, through 2015, the Post is quoted suggesting that Maryland counties "will have to make due with less than 10% of the hundreds of millions they have typically received each year over the last two decades" (MPPI, p. 9). The actual dollar amount that the counties and Baltimore City will lose due to this dipping into funds by the governor is around $400 million, the MPPI explains.
Included in O'Malley's budget moves -- the legal…… [Read More]
Over the last several years, the total amounts of spending for the federal government has been continually brought to the forefront. This is because of the high trade deficits and national debt is having an impact on how various services are delivered. In the case of Justice Department, they have been facing drastic cuts. The reason why is from officials using the funds they are receiving to provide generous benefits for employees. ("Budget Cuts Should Start with DOJ," 2011)
A good example of this can be seen by looking no further than a DOJ Inspector General's report. They found that there is rampant waste inside the agency (with them spending $16 per muffin for a breakfast gathering and $600 thousand for event planning services). ("Budget Cuts Should Start with DOJ," 2011) These elements are illustrating how these kinds of reports are leading to a reduction in spending and…… [Read More]
intended for a quantitative public policy perspective analysis of strategic and financial changes in small, private as well as not for profit advanced schooling organizations and institutions in Jamaica. The primary intent behind this paper would be to assess the framework by which strategic and financial innovational changes in small, private, not for profit advanced schooling institutions in Jamaica operate. They concentrate on the conditions which will make financial investments much better than be adopted and even implemented in a variety of contexts. In this way hopefully to lay smooth the road for just about any future studies conducted in the region or on the main topic of financial investments with the associated implications. This could, hence inadvertently, provide all potential studies and researches an excellent service. It might provide them with a foundation base on which to consult in most regions of conflict and trouble that may arise due…… [Read More]