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 decisions.
These topics…...
mlaReferences
Ekstedt, H. (2012). Money in Economic Theory. New York, NY: Routledge.
Holzer, M. (2011). Public Administration. Armonk, NY: ME Sharpe.
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 that provided by the…...
mlaReferences
Cannon, J.S. Spotlight on New York. A decade in progress, in alternative, transport fuels. 2012: 05/10/2012.http://www.informic.org/pages/research/122.html.
Cu, M.A. Governor Cuomo Delivers Budget Message in Staten Island. 03/03/2011: 05/10/2012.http://www.governor.ny.gov/030311budgetmessagestobe .
Mumpower, J. And Ilchman, W.F. (1988) New York State in the Year 2000. New York. Sunny Press Publishers.
Paterson. 2010-2011 budget proposal-overview/New York daily. WWW.newsweekly.com/Paterson-201 05/10/2012.
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 the person…...
mlaReference
Alink, M & Kommer, V. (2011). Handbook on Tax Administration. Amsterdam: IBFD.
Hyman, D.N. (2011). Public Finance: A Contemporary Application of Theory to Policy (10th Ed). South Western: Cengage Learning.
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 Security does not…...
mlaReferences
Schieber, S.J. (2012). The Predictable Surprise: The Unraveling of the U.S. Retirement System. New York, NY: The Oxford University Press, Inc.
Public Finance
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
Public Finance
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. The word itself…...
mlaReferences
Gordon, D. (2012). The Pareto Criterion and Ethics. Organization and Markets, 22 Sep 2006. Retrieved from http://organizationsandmarkets.com/2006/09/22/the-pareto-criterion-and-ethics/
Laws.com (nd). "Public Finance." Viewed 10 Mar 2014. Retrieved from http://finance.laws.com/public-finance
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…...
mlaTax Policy
The stability and prosperity of Botswana is reflected in a tax regime which is built to raise revenue to fund necessary government service but encourages economic freedom and dynamic free markets. Zimbabwe presents a complex and confiscatory system which discourages entrepreneurial activity and wealth accumulation. Tax structures must provide transparency, low rates, as broad a base as possible, and a configuration which allows expansion of individual investment and savings. The goal of lower income African nations should be to build a flat rate system which strives to reduce the "total tax burden as a percentage of total domestic income" (Heritage.org. About. 2012. PP. 1-2) to a level which balances private investment with government spending needs on infrastructure.
Looking at Botswana and Zimbabwe, the former provides top income and corporate tax rates of 25% and a low value added tax of 12%; equally important the resident and non-resident individual and corporate entity are treated as equals under the tax code (Deloitte.com. Botswana. 2012. PP. 1-2). Zimbabwe has since the collapse of their state currency impacted meaningful change on their tax rate regime however, the rates are still significantly higher than Botswana, with the top income tax rate of 35%, corporate rate of 25%, and VAT of 15% (Deloitte.com. Zimbabwe. 2012. PP. 1-2). Additionally there is opaqueness in the tax code on foreign investment and non-resident incomes. Interesting to note also that the hyperinflation of the 00's under Mugabe
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
The management of…...
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. As…...
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 widespread…...
mla4)Harting, Tracey L. The Science of "Muddling Through" by Charles E. Lindblom 1998, Accessed on 31-3-2003 at http://www.tamucc.edu/~whatley/PADM5302/theo14e.htm
5) Book review. Understanding Public Policy. Prentice Hall. Accessed on 31-3-2003 at http://vig.prenhall.com/catalog/academic/product/1,4096,0130260088,00.html?type=FEA
6) Thomas Wadsworth, Book Review. Political Science. Fiscal Administration: Analysis and Applications for the Public Sector, Sixth Edition, Accessed on 31-3-2003 at http://newtexts.com/newtexts/book.cfm?book_id=816
PPP
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 facilitate…...
mlaReferences
Koehler, P. (2012). Why do some stadium redevelopment projects succeed where others fail? An analysis using macro-level trends in stadium building. Colgate University. Retrieved November 16, 2014 fromhttp://www.colgate.edu/docs/d_centers-and-institutes_institute-for-philosophy-politics-and-economics_fellowships/koehlerstadiumpubfunding-11-02-12.pdf?sfvrsn=2
Kuriloff, A. (2012). Stadiums cost taxpayers extra $10 billion, Harvard's Long finds. Business Week. Retrieved November 16, 2014 from http://www.businessweek.com/news/2012-11-06/stadiums-cost-taxpayers-extra-10-billion-harvard-s-long-finds
Nisar, T. (2007). Value for money drivers in public private partnership schemes. International Journal of Public Sector Management. Vol. 20 (2) 147-156.
Sharma, M. & Bindal, A. (2014). Public-private partnership. International Journal of Research. Vol. 1 (7) 1270-1274.
Public Finance
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 goals of efficiency,…...
mlaReferences
Bartle, J., Scott, D. & Shields, P. (2008). Applying pragmatism to public budgeting and financial management. Association for Budgeting and Financial Management conference.
Retrieved from: https://digital.library.txstate.edu/handle/10877/3995
Financial accounting. (2015). National Center for Educational Statistics. Retrieved from:
Public/Government Finance
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. In addition, the unemployed may…...
mlaWorks Cited
Allmanblogs.com. (2010). The case against an unemployment benefits extension: the three main arguments and their rebuttals. Secrets about Unemployment website. Retrieved July 13, 2011 from http://blog.secretsaboutunemployment.com/unemployment-claim/the-case-against-an-unemployment-benefits-extension-the-three-main-arguments-and-their-rebuttals/
Bureau of Labor Statistics. (2011). Employment Situation Summary. BLS web site. Retrieved July 13, 2011 from http://www.bls.gov/news.release/empsit.nr0.htm
CNBC.com. (2009). Making the case for and against unemployment benefit extension. CNBC Guest Blog. Retrieved July 13, 2011 from http://www.cnbc.com/id/32284041/Making_the_Case_For_and_Against_Unemployment_Benefit_Extension
Doyle, A. (2011). Unemployment Extension. About.com website. Retrieved July 13, 2011 from http://jobsearch.about.com/od/unemployment/a/unempextension.htm
Finance
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.)
While CAPM,…...
mlaReferences
An Introduction to Investment Theory" Retrieved at Accessed on 29 July, 2004http://viking.som.yale.edu/will/finman540/classnotes/class6.html .
Bayesian Approach of the Arbitrage Pricing Theory" Retrieved at on 29 July, 2004http://64.233.167.104/search?q=cache:Sa6l536IAccessed
Capital Asset Pricing Model" Retrieved at Accessed on 29 July, 2004http://www.investorwords.com/698/Capital_Asset_Pricing_Model.html .
Definition of Arbitrage Pricing Theory" Retrieved at on 29 July, 2004http://economics.about.com/cs/economicsglossary/g/apt.htm?terms=economic+theoryAccessed
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…...
mlaReferences
Cassidy, J. (2008). Anatomy of a meltdown, New Yorker, 84(39), 1-756.
Cherry, C. (1998). God's new Israel: Religious interpretations of American destiny.
UNC Press Books.
Cohan, W. (2010, Nov. 27). The power of failure. New York Times. Retrieves from www.thenewyorktimes.com.
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 CFO (Corson and…...
mlaReferences
Corson, M. And Miyagawa, T. (2012). GLOBAL CFO: From Scorekeeper to Strategist. Financial Executive, Vol. 28 Issue 9, p20-23.
Legal Market Association. (2012). "The Influence of Procurement on the Purchasing of Legal Services," You Better Know Their Names: Corporate Procurement Influences the Law Firm Selection, I Bought the Law: Purchasing Legal and Other Professional Services: A CFO's Perspective. Strategies: The Journal of Legal Marketing, Vol. 14. No. 2.
1. The Role of Public Administration in Enhancing Government Accountability and Transparency
2. Innovations in Public Administration: Technology and the Digital Transformation of Government
3. The Impact of Globalization on Public Administration: Challenges and Opportunities
4. Public Administration and Sustainable Development: Balancing Economic Growth and Environmental Protection
5. The Importance of Ethical Leadership in Public Administration
6. Public Administration and Citizen Engagement: Fostering Collaboration and Inclusivity
7. The Role of Public Administration in Disaster Management and Emergency Response
8. The Challenges and Importance of Public Administration in Developing Countries
9. The Impact of Social Media on Public Administration: Communication, Transparency, and Accountability
10. The Role of Public Administration in....
Studying public administration in this course has significantly broadened my understanding of government operations and policies. I have gained a deeper insight into the various components that make up the government machinery, such as bureaucracy, public finance, and public policy. I have also learned about the importance of accountability, transparency, and efficiency in government operations.
Additionally, studying public administration has made me more aware of the complex challenges and issues that governments face in delivering services to the public. I have come to realize the critical role that public administrators play in addressing these challenges and implementing policies that serve the....
Economic Factors:
Gross Domestic Product (GDP): China's GDP is over $15 trillion, while Zambia's is approximately $22 billion. The vast difference in economic size signifies a fundamental economic disparity.
Industrialization: China has undergone rapid industrialization since the 1980s, transforming its economy from agricultural to manufacturing-based. Zambia, on the other hand, remains heavily dependent on natural resource extraction, particularly copper mining, which exposes its economy to price fluctuations.
Foreign Investment: China attracts substantial foreign direct investment (FDI) due to its large market, skilled labor force, and favorable business environment. Zambia, however, faces challenges in attracting FDI due to political instability, corruption,....
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now