...Philippine public fiscal administration has always been characterized by continuous, expanding, and increasing levels of debt and budget deficits. It has also been beset with problems of mismanagement, conflicting and wrong priorities, and even graft and corruption. Though it heavily relies on outside sources for its revenues, many times it had no protection from external and even from internal shocks including natural calamities and man-made disasters. With this backdrop, write an essay on why or how studying and learning Philippine Public Fiscal Administration is necessary in the practice of Good Governance. In your essay, take into consideration the particular experiences of Philippine Public Finance from the time of the Spaniards upto present. Philippine public fiscal administration has always been characterized by continuous, expanding, and increasing levels of debt and budget deficits. It has also been beset with problems of mismanagement, conflicting and wrong priorities, and even graft and corruption. Though it heavily relies on outside sources for its revenues, many times it had no protection from external and even from internal shocks including natural calamities and man-made disasters. With this backdrop, write an essay on why or how studying and learning Philippine Public Fiscal Administration is necessary in the practice of Good Governance. In your essay, take into consideration the particular experiences of Philippine Public Finance from the time of the Spaniards...
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...Public/federal lands’ management/ownership has been an increasing issue in politics. The “management” part of the issue is the biggest controversy. Many western states have brought forth in their state legislatures, a bill for transfering the ownership and management of the public/federal lands within their own states to their states. There are many aspects/topics within the issue of public/federal lands’ management/ownership that are brought up in arguments within politics. The topics that will be discussed in this essay include the original reason land was owned by the federal government after the Revolutionary War, what the U.S. and Wyoming Constitutions say about public/federally owned lands, what affect the “Northwest Ordinance of 1787”...
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...2008 has led to the European sovereign debt crisis. The purpose of this essay is to analyse the effectiveness of several economic policies which can be used to solve this crisis. The essay looks at the effectiveness of fiscal austerity which has already been implemented by some European countries, then look at whether there is room for monetary policy, lastly looks at whether there is room for further policy recommendations. The European sovereign debt crisis refers to the collapse of several financial institutions in certain European countries which form part of the European Union, high government debt in these European countries as well as rapidly increasing bond yield spreads in government securities has caused a sovereign debt crisis. This on-going financial crisis, which began in 2008, has made it very difficult or even impossible for some country’s governments in Europe to pay back their debt without the assistance of third parties which then further increases their debt (Times, 2012). Economists have thought long and hard about ways in which they can improve and in essence solve the European debt crisis. One way of doing so is through fiscal policy, which refers to government spending and taxation. A fiscal consolidation, which is a term typically used to discuss government economic policy, refers to a policy which is implemented with the intention of decreasing government deficits and decreasing the accumulation of government debt (W.Lee, 2012). According to the economist...
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...1) Akademos / TextbookX.com 2007 Fall Scholarship |Provided by: |Akademos, Inc | |Deadline: |October 31, 2007 | |Type of Award: |Essay | |Awards Available: |3 | |Amount: |$250-$2000 | Website http://www.textbookx.com/scholarship/ Description The Akademos / TextbookX.com 2007 Spring Scholarship is available to undergraduate and graduate students enrolled in good standing at an accredited college or university in the U.S. You must be a legal resident of the U.S. or an international student with a valid visa to be eligible. To apply for this scholarship, you must write a 250- to 750-word essay on the following topic: What responsibility, if any, do countries have in preventing environmental damage? Additional Information You must submit an online application by October 31, 2007 at 11:59 pm EST. Please visit the sponsor's Web site to submit an online application and to locate additional information. Applicable Majors All Areas of Study 2) Alfa Fellowship |Provided by: |CDS International, Inc. ...
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...political fundamentalism” (1) is taking its place. The author gives many possible directions for hope but still his writings lack possible more in depth directions to stop this growing trend. The author defends this with discussing how this type of logic is exactly what he is fighting against. Pre-written instructions that society has become so used to that it doesn’t know what direction to go when faced with difficulty and if it wasn’t taught that way then don’t do it that way. Democracy is something we hear more and more since the beginning of the Iraq war up to the next presidential election. But one question this book asks and as scholars we must ask ourselves, “Is our society, in all aspects, really democratic?” In the first essay of the book Giroux discusses how universities have become bedfellows with the American war machine. Giving the reader a raw look at how far universities have become militarized. The beginnings can be traced back to the post-WWII years. Giroux argues that even though it has been at least 50 years since this invasion of militarism into universities, since 911 this militarism has spread beyond the walls of the university into mainstream society. The concept of militarism is the dominance of the military over the state or the broader culture, militarization is more fundamental and pervasive part of a basic military philosophy and its underlying assumptions. The author contends that the two meanings are becoming one and is now used as solutions...
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...* Enron Questionable Transactions Question 1 The question which segment of its operations got Enron into difficulties is simple to answer, everything. Almost every all segments of their operation were improper. First of all, they practice unethical and dishonest practices which victimized workers, consumers, taxpayers and stockholders. Enron created partnerships within their own organization which led to them creating new financial instruments, called SPE’s (special purpose entities) which was used to falsify the accounting. The improper financial reporting was to make the company look good, instead of assuring that the figures are accurate and reliable. Enron's legal department wrote up contracts that were irregular. Enron executives were so focused on the pursuit of profits, regardless of economic fundamentals. Enron had excesses of difficulties and they also cause their law firm and accounting firm to become involved in a web of dishonesty. Question 3 All of Enron’s directors were involved in the dishonest scheme and they understood how profits were not honorable. One of the directors, Andrew Fastow who was responsible in creating many of the partnerships such as JEDI, Chewco, Kopper & Dodson’s and Dodson Companies knew exactly how the profits were being made along with several other directors such as Ben F. Glisan, Jr., Jeffrey K. Skillings who was on the board of directors. These directors were all part of a financial scheme to continue to...
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...Coalition Cuts: “Tough But Fair” Immediately as I write this essay Britain’s national debt stands at around £946,319, 240,034, 83.7% debt to GDP ratio whilst the US has a national debt of over $13,492,377,103,199. ‘Thanks to Mr Osborne, Britain now has the earliest, most aggressive programme to cut government borrowing in the G7, despite widespread fears about the strength of the UK and global recovery’ (Flanders, 2010). In this essay I will focus on Britain’s budget deficit, in particular the Emergency Budget, presenting various topics for debate in relation to different aspects of the budget. I will further expand into broader topics such as the recession as a whole, the previous Labour government, other countries situations and subsequent response and the theory behind the policies undertaken, whether driven by political or economic incentives for example. Throughout the essay I will attempt to present ideas in a balanced approach, clearly showing the difference between positive and normative statements. An economies growth rate fluctuates over a period of time, known as the economic cycle. It shows the changes over time in the macro economy such as a recession where growth falls below the trend growth rate: a negative output gap. Such events are cyclical and the general period of time between one boom and another is usually five to eight years (Peter Cramp, Informe). Gordon Brown was keen to avoid successive budget deficits...
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...Public Fiscal Administration In: Historical Events Public Fiscal Administration Public Fiscal Administration fiscal administration generally refers to the process/es involved in the revenue generation, allocation, and expenditures of the government. Public finance belongs to the branch of economics but that was during the earlier times. With the emergence of the field of public administration, much interest has been directed towards fiscal administration. Again, this subfield of public administration covers a wide range of issues and topics affecting government operations like taxation, public expenditures and borrowing, resource allocation, revenue administration, auditing and intergovernmental relations. As Briones (1996) puts it, “public fiscal administration embraces the formulation, implementation, and evaluation of policies and decisions on taxation and revenue administration; resource allocation, budgeting, and public expenditure; public borrowing and debt management; and accounting and auditing.” Through the years, many researches were devoted on these topics and issues; the government has also introduced reforms like reforms in tax administration, value added tax (VAT), expanded value added tax (E-VAT), procurement reforms, the medium-term expenditure framework (MTEF), accounting reforms, re-engineering the bureaucracy program (REBP), transforming local finance, and many others. Fiscal policy refers to the "measures employed by governments to stabilize...
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...organization's income is distributed to its members, directors, or officers” (law.cornell.edu). Types of NPOs include volunteer service organizations, public charities and schools, public clinics and hospitals, political organizations, legal aid societies, labor unions, churches, research institutes, professional and environmental associations, museums, and some government agencies (law.cornell.edu). Some of the purposes service for these organizations include working for social change, to help people help themselves, and to fight for the civil rights of others. NPOs are a vital part of our nation’s economy, as they not only provide much needed public services to all concerned citizens and inhabitants of the U.S., they also provide millions of jobs for nation’s workforce. This essay will discuss the application of financial management techniques in NPOs. A comparison and contrast of nonprofit and for profit organizations (FPOs) will be examined while focusing on the fundamental differences between the two. How NPOs and FPOs are affected by different laws that dictate their daily operations will be explored. Information regarding how sources of funds are generated, how the use of debt applies, how performance evaluations are conducted, and how governance mechanisms relate to these organizations will be covered. The subject matter in this essay is to promote why it is imperative that NPOs, like their FPO counterparts, must ensure that their revenues...
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...agents of change provide creative, innovative ideas for business enterprises and help business grow and become profitable. There are two types of entrepreneurs which are business entrepreneur and social entrepreneur. Business entrepreneur is driven by a profit motive while social entrepreneur is driven by a mission to fill the gap left of the market and public sector. This essay will typically focus on business entrepreneur.（Frederick, H.H&D.F.Kurakto.2010）.The most important part for enterprise doing business is financing .Without money or capital which is extremely hard for entrepreneur starting up a business. However there are many sources of financing for entrepreneur. The essay will be illustrated from some sources of finance via an existing company. Sharetea Australia Pty is a company that specialist in food and beverages. The company has four shops located in different district s in Sydney. As a proprietary company which meant the company is owned by an individual that has limited shares, around fifty employees work in the company. Anthony Mu is the manager of the company which has 10 years working experiences. In this essay, it is necessary to discuss how do Anthony Mu raise funds as an entrepreneur for starting his business, and any source of finance that he used to maintain his company. It said that it is difficult to start a business at the first movement, because it is easy to fail if the person does not prepare, even the one who prepare well might fail as well...
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...found himself in the midst of a complex battle for the ratification of the U.S. Constitution. This tumultuous period saw him, alongside James Madison and John Jay, penning the Federalist Papers to sway public opinion and secure support. Wartime shortages added another layer of difficulty, as Hamilton confronted challenges to keep the Continental Army supplied. Yet, perhaps his most personal challenge was navigating a world that doubted his immigrant roots and questioned his...
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...different sources, ranging from equity, various forms of debt, to internally generated funds through retained earnings which would otherwise be distributed to shareholders (Myers and Myers, 1991; J. Gitman, 1991). The sources of finance can be classified as Internal and External, Short-term and Long-term or Equity and Debt (Bromwich & Bhimani, 2009, pp.45). The two main sources of finance for business include internal and external sources. The business managers decide which form of financing to be used in the business (Klammer, 2003, pp.35). Internal Sources of Finance Personal funds - utilized by sole traders and partnerships. Owner takes on risk of losing their money. Family and friends - utilized by sole traders and partnerships. Friends can not only lose money but also harm relationships Selling assets - Dormant (unused) assets are typically sold. Selling of fixed assets that are currently in use may solve liquidity problems but create future production problems. Retained profit - Profits reinvested back into the business External Sources of Finance Share capital - limited companies selling shares. #1 way for limited companies to raise money and can provide up to billions. Venture capital - invest in high risk / high return firms (usually technology start ups). In return take some ownership (equity) in the firm. Initial Public Offering - going from public to private. Selling shares to the public. Business angels - an individual who invests in high...
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...After the revolution the United States had a debt that they needed to pay, yet the country had no money or credit support from other countries to do so. Hamilton believe that shifting power from the state level to the national level would get things done, hence wanting a complete ratification of the constitution. They were a couple key things that the Alexander Hamilton and the Federalist were looking to implement; a stronger and centralized government to solve national problems, a national bank, and a strong executive. The way the Federalist would back up their contentions was by believing that the government needed necessary means in order to fulfill its ends. One example is that under the Articles of Confederation the United States takes full responsibility of paying off debt, Hamilton and the Federalist argue that in order to fulfill that end they must implement a stronger government who can raise more revenue but in order to do that must be given the means. In Federalist No. 23 it states. “…because it is impossible to foresee or define the extent and variety of national exigencies, or the correspondent extent and variety of the means which may be...
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...Australia are privately own and the aim of these corporations is encouraging investment in private and public sector. Generally, these corporations are mainly funded by the savings of private sectors business persons. Incorporation is a process of engaging two or more group of shareholders in a single entity which is called corporation. Corporation can be define as “a company, a body corporate or an unincorporated body that under the law of its place of origin, may sue or be sued, or may hold property in the name of its secretary or of an office holder of the body duly appointed for that purpose”.1 The above definition gives rise to the characteristic of corporation association such as separate legal entity and capacity to sue and be sued. In an incorporation environment members are not liable for the credibility and integrity of the company because corporation business has separate legal entity. In a case, if a company is liable to pay debts to its creditors then the shareholders do not have the liabilities to pay debts but it is the obligation of the company. Also the shareholders can easily transfer their shares to the new or existing shareholder without affecting the continued existence of the company. Moreover, incorporation gives special rights of issuing shares and debentures to the company as well a company can act like sole proprietor to sue for libel. The aim of this essay is to examine the...
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...Key Government Debt Governments get into debt each and every day. There are plenty of things that cause a government to get into debt. Many governments don’t let the public know about all the debt they have gotten the community into. Throughout this essay I plan to do a research on government’s debt and explain the many things and ways that cause them to get into such a bad situation. Everyone have their own opinions about how the government gets into debt. I feel that there are plenty of reasons that cause the government to get into the situation. For the past centuries, many people in America have dug themselves into a big hole which is national debt. So many people have gotten their selves into debt with the government that some of them can’t get out of it. Some people don’t tend to pay the government what they owe and end of owning millions of dollars in debt. The biggest national debt was in 1985 to 1995 when it went up to about three trillion dollars. When social welfare and social security began, the country went into debt. Many people have to admit that the nation or country gets into debt. I feel that the government tells us things to get into the office and don’t do what they say. I have seen plenty of people in America lie to get into the seat and then don’t do anything they stated in their campaign. Governments spend more money on unnecessary things and borrow unnecessary money and end up in debt. If the governments...
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