School Finance: Its Economics and Politics
School financing in America

Revenue sources for federal and state governments

Judicial reviews of school finance policy with evolving standards of equality

School-based decision making

Family choice of schooling

Reform of schooling-finance

Providing equality in educational opportunities to all is one of the cornerstones of American democracy. The founding fathers of America were aware of the necessity of having a population, which is educated since it enables an opportunity for all the citizens of the country to be successful. The necessity and the desire to create an environment where all children have equal opportunities for education to achieve success are now creating fundamental challenges in the field of education in America. In the 20th century, the issues which concerned school finance was about dealing with how to overcome fiscal disparities with the use of state and federal resources within a public school system. The public school system in the initial stages…...

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Bibliography

Alexander, Kern, & Salmon, Richard, G. Public school finance. Mass.: Allyn and Bacon.(1995)

Hertert, Linda, Carolyn Busch, and Allan Odden. "School Financing Inequities Among the States: The Problem from a National Perspective." Journal of Education Finance 19 (Winter 1994), 231-255.

Odden, Allan, R., & Busch, Carolyn, C, "Financing schools for high performance: Strategies for improving the use of educational resources." California: Jossey-Bass, Publishers. (1998)

National Research Council. "Making Money Matter: Financing America's Schools." Committee on Education Finance, Helen F. Ladd and Janet S. Hansen, eds. Washington, DC: National Academy Press. (1999)

The fair / unfair distribution of school resources. In 2000, the ACLU filed suit (Williams et al. v. State of California et al.), claiming that the obligation of the state to provide all students with "basic educational necessities" was not fulfilled. One million of California's students are deprived of educational basics, such as qualified teachers, decent school facilities, and appropriate textbooks.

An important part of these problems are caused by the inadequacy of the school system funding in the state. Others are problems to be solved by individual school districts, since they are seen as a local management problem.

The new concept behind the reform of school finance of California is the "weighted student formula" or "student-based budgeting," which is believed to be a way to a more equitable and effective school funding system. Still, skeptics doubt that it the concept is applicable to California's 9,000 schools serving 6 million children and…...

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Reference:

1. Californians rank low in education, highway spending

Larry Barrett. The Business Journal. San Jose: Jun 17, 1996. pg. 1

2. Tiebout and tax revolts: Did Serrano really cause Proposition 13?

Kirk Stark, Jonathan Zasloff. UCLA Law Review. Los Angeles: Feb 2003.Vol.50, Iss. 3; pg. 801

Williams Case Settlement
Mr. Governor, our youth represents our state's future - addressing and correcting the discrepancies that will be addressed in this memo should be a main priority and maybe even the ultimate objective of the Williams Class action lawsuit educational budget adjustments. The Courts have spoken and have obviously concurred that the California Educational System has been broken for quite some time and is in need of serious financial reform. The decision reached by the courts in the Williams' Class action lawsuit affirms the requirement of the State's obligation to provide an adequate educational process for this state's citizens.

The Williams' Class action lawsuit has become a successful demonstration that points out the blearing differences between an education received by our states rich and poor children when it comes to a K. through 12th grade education. The California State Legislature has confirmed that there is a significant funding disparity amongst…...

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References

Hill, John (2002). School Cutbacks Concern Analysts. Bee Capitol Bureau.

School cutbacks concern analyst

Hill warns lawmakers the governor's proposed budget-cutting plan could cause undue harm in classrooms.

John Hill -- Bee Capitol Bureau

"Failure of any district to budget funds to meet statutory requirements is a very serious matter and will result in the executive county superintendent rejection of the budget. The district will be advised of any lack of budget approval with specific recommendations on necessary corrective revisions." (New Jersey Department of Education 2013, P 14).

3. Key Budget Terminology

There are numerous terminologies with regard to the school district budget. The most important budget terminologies are

evenue

The revenue is the money received by the school district within an accounting year. A fund is part of the revenue and there are four sources of revenue for the school district and this include:

Local source,

Intermediate source, state, and Federal sources.

Expenditures

Expenditures are the expenses that the school district must fulfill within an accounting year. Part of the school district expenditures are the payment of teachers' salary, and travel expenses for the school staff

Balance Sheet

Balance sheet reveals the total…...

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References

Ernest & Young (2012).U.S. GAAP vs. IFRS the basics. Ernst&Young LLP.

State of New Jersey (2008).The Uniform Minimum Chart of Accounts for New Jersey Public Schools. Department of Education, Division of Finance.

New Jersey Department of Education (2013).Budget Guidelines Fiscal Year 2013-2014.Office of School Finance.

The experience has proven to be a real world confirmation of what I want to do in my professional life. I was charged with handling financial computations, modeling, forecasting and transactions. While doing so, I knew I have found my niche in life and need only gain both theoretical training and further real world experiences to become the best I can be in my chosen field. Once I have completed my graduate studies in Finance, I intend to apply for work at leading firms specializing in international finance and trade. This will enable me to apply knowledge learnt in undergraduate and graduate studies. Graduating from two prestigious institutions in the United States will accord me the opportunity to practice anywhere in the world since I have had the global education necessary. It will be a different world since I would have left the secure confines of the academe and…...

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.

orks Cited:

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 Child Left Behind'.…...

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Works Cited:

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 Weigh 'No Child Left Behind'. CBS News. Retrieved April 24, 2009 from  http://cbs2chicago.com/politics/No.Child.Left.2.278792.html 

Shelly, Bryan. (2007). A Small Lever: Federal Funding and State Compliance to No Child Left Behind. Wake Forest University. Retrieved April 21, 2009 from  http://www.allacademic.com//meta/p_mla_apa_research_citation/1/9/8/5/6/pages198564/p198564-1.php

For example, many of the large investment banks may choose to deal only with large deals will have minimum transaction sizes. Therefore, the first consideration may be the suitability of the bank given the size of the organization. There may also need to be consideration of the degree of attention and expertise that the investment banker direct with the company, even if the minimum is met, large organizations with a large number of clients may have a higher level of expertise that can be directed, but they may also be more focused on large clients. This can only be assessed by talking to the relevant investment bank.
Prior to taking on any investment bank it will be necessary to allow the investment banker to make a pitch. oss details of the organization's financial position may be given prior to this pitch, but an investment banker should be willing to sign…...

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References

Friedman, Benjamin M, (1982), The Changing Roles of Debt and Equity in Financing U.S. Capital Formation, University of Chicago Press

Miller, M. H, (1988), The Modigliani -- Miller Propositions after Thirty Years, Journal of Economic Perspectives 2(4), 99 -- 120.

Turo, J, (2013, October 2), How to Choose The Right Investment Banker to Sell Your Business, Entrepreneur, accessed 27th April 2014 at  http://www.entrepreneur.com/article/228671

here are variations on these four schools but, in essence, these four schools dominate the field. hese four schools are: Marxist, Kenyesian, Monetarist, and neoclassic.
he Marxist school is built upon the theories and writings of Karl Marx and Friedrich Engels. hese gentlemen believed that all economic societies go through a period of development wherein different economy systems are used beginning with a form of primitive communism through feudalism, capitalism, and then eventually ending in pure communism. he economy of the Soviet Union was based on the theories of Marx and Engels and, as a result of the failure of that government it has fallen out of favor among modern day economists.

he decline of Marxism seemed to served as an impetus for the remaining major economic schools to re-examine their positions. In the last two decades of the twentieth century the schools began to build a consensus. his consensus has…...

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The Marxist school is built upon the theories and writings of Karl Marx and Friedrich Engels. These gentlemen believed that all economic societies go through a period of development wherein different economy systems are used beginning with a form of primitive communism through feudalism, capitalism, and then eventually ending in pure communism. The economy of the Soviet Union was based on the theories of Marx and Engels and, as a result of the failure of that government it has fallen out of favor among modern day economists.

The decline of Marxism seemed to served as an impetus for the remaining major economic schools to re-examine their positions. In the last two decades of the twentieth century the schools began to build a consensus. This consensus has become to be known as the new Keynesian economics. This new school of thought incorporates elements of Keynesian, monetarist and the neoclassical ideas and has been adopted by a large majority of modern day economists. In its simplest form, new Keynesian economics stresses the stickiness of prices and the need for an active stabilization policy that manipulates the aggregate demand in order to keep the general economy operating close to its potential output. It also incorporates the monetary policy of the monetarist school and stresses the importance of aggregate supply as professed by the neoclassical school. This blending of economic thought occurs after fifty years of bitter dispute caused by the introduction of Keynesian economics in the 1930's. Although there remain proponents of all the major schools of thought, the new Keynesian economics currently dominate the field of macroeconomics.

Combining competing schools of economic thought

I would advise that Mr. Haskins has to understand that the banks are businesses, and make strategic investments when they think those businesses will pay off. This means that AMD needs to ensure that the banks are happy, in order to secure financing. That means giving the banks what they need to feel secure in this investment. Receivables are not adequate collateral, for a lot of reasons, and ancient receivables are especially worthless. Likewise, giant stockpiles of inventory are not good collateral for a bank. Mr. Haskins has to understand that banks are not interested in these things as collateral, but if he gives the banks what they want he can have loans on the strength of his business.
Mr. Haskins must realize that banks are partners, but they need something out of the deal as well, and do not operate on blind faith. As such, Mr. Haskins needs to…...

Finance/Management Accounting
The topic of finance and managerial accounting inclusively, are broad and incorporate a critical skill set in the modern day business student. Finance involves corporate and investment finance and managerial accounting is complimentary as it involves cost accounting and essentially stresses cost management. Together, these topics provide a comprehensive financial analysis skill set yielding capability in solving the day's most critical business financial quandaries. The literature review will seek to narrow down the literature and funnel the topic into the main financial analysis area.

According to Musvoto, (2011), "Studies in accounting measurement indicate the absence of empirical relational structures that should form the basis for accounting measurement. This suggests the lack of objectivity of accounting information. Landmarks in the development of finance theory indicate the use of accounting measurement information as a basis for their development. This indicates that subjective accounting information is incorporated in finance theory. Landmarks in finance…...

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References

Allen, D. (1992). Financial management: The leading edge of management accountancy. Strategic Finance, 73(12), 53. Retrieved from  http://search.proquest.com/docview/229748882?accountid=13044 

Black, T., & Gallagher, L. (1999). Are physical capacity constraints relevant?: Applying finance-economics theory to a management accounting misconception. Australian Journal of Management, 24(2), 143. Retrieved from  http://search.proquest.com/docview/200627217?accountid=13044 

Brewer, P.C. (2008). Redefining management accounting. Strategic Finance, 89(9), 26. Retrieved from  http://search.proquest.com/docview/229763529?accountid=13044 

Coakley, J.R., & Brown, C.E. (2000). Artificial neural networks in accounting and finance: Modeling issues. Intelligent Systems in Accounting, Finance and Management, 9(2), 119. Retrieved from  http://search.proquest.com/docview/214368060?accountid=13044

Then, each program is measured in terms of how well it can perform in a given environment. Based on this test called the fitness measure, the fit programs are selected for the next generation of reproduction. This process is continued until the best solution is determined. (Koza, 1992).
The advantages of genetic programming is that it is an evolving process based on the tested process of natural selection and evolution. This also uses parallel processing and so it can produce more accurate results within a short period of time. Due to these advantages, it is used in many real-world applications.

It plays a profound role in data mining and virtual reality, in every field ranging from finance to gaming. Specialized computer programs can retrieve data from large databases with a lot of precision and speed. These programs can also be used to identify relationships among this data and express them in…...

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References

Yao, Xin. (1999). Evolutionary Computation: Theory and Applications. Publisher: World Scientific.

Back, Thomas. Fogel, David.B, Michaelewicz, Zbigniew. (2000). Evolutionary Computation 1: Basic Algorithms and Operators. Publisher: CRC Press.

Mitchell, Melanie. (1998). An Introduction to Genetic Algorithms. Publisher: MIT Press.

Koza, John. R. (1992). Genetic Programming: On the Programming of Computers by means of natural selection. Publisher: MIT Press.

For example, a collectivistic society is typically preoccupied with high-context communication while an individualistic society is often characterized by low-context communication. (Gudykunst and Stella, 1991, p. 96). China, as a whole, is a collectivists society and thus uses high-context communications. This means that the fashion in which they transmit information is dependent on whether it is "in the physical context or internalized in the person." (Hall, 1976, p. 91). In other words, Chinese typically communicate in an implicit way. As such, in Chinese society one will observe people placing the greatest emphasis on interpersonal relationship in which they communicate with in an "indirect, ambiguous and roundabout way." (Gudykunst, 1991, p. 51).

This type of information is important for a Western business person to understand if they are to successfully do business in the Chinese marketplace. Therefore, it is essential that Western businesses and business school focus their training on cultural sensitivities.…...

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Bibliography

Gudykunst, William B. (1991). Effective Intergroup Communication. Newbury Park: Sage Publications.

Hall, Edward T. (1976). Beyond Culture. New York: Anchor Books.

Finance
The FCF-based valuation model is based on the following formula:

EBIT (1-Tax Rate) + Depreciation & Amortization - Change in Net orking Capital - Capital Expenditure

Investopedia, 2012)

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 as well if the…...

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Works Cited:

Berkman H., Bradbury, M. & Ferguson, J. (2002). The accuracy of price-earnings and discounted cash flow methods of IPO equity valuation. Journal of International Financial Management and Accounting. Vol. 11 (2) 71-83.

Del Vecchio, J. (2000). Dividend discount model. Motley Fool. Retrieved April 27, 2012 from  http://www.fool.com/research/2000/features000406.htm 

Demirakos, E., Strong, N. & Walker, M. (2004). What valuation models do analysts use? Accounting Horizons. Vol. 18 (4) 221-240.

Francis, J., Olsson, P. & Oswald, D. (2000). Comparing the accuracy and the explainability of dividend, free cash flow and abnormal earnings equity value estimates. Journal of Accounting Research. Vol. 38 (1) 45-70.

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.

Intercollegiate athletics

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).

Community involvement

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 of young people, adult education…...

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Works Cited

At a glance. (2009). Harvard College. College Board. Retrieved June 21, 2009 at  http://collegesearch.collegeboard.com/search/CollegeDetail.jsp?collegeId=1251&profileId=0 

Athletics. (2009). Harvard College. Retrieved June 21, 2009 at http://www.admissions.college.harvard.edu/about/beyond/athletics.html

Community outreach. (2009). Harvard College

http://www.admissions.college.harvard.edu/about/beyond/community.html

, 1999). In many areas of the country this may be very accurate.
Another problem that comes into the picture where obesity in children is concerned is that many parents must work very long hours today to pay bills and have money for what their family needs (Mokdad, et al., 1999). ecause of this, many children are latchkey kids and are not watched as closely by their parents as they used to be (Mokdad, et al., 1999). Children used to come home from school and go and play with others, but many now live in neighborhoods where this is unsafe or where there are no children their age so they remain inside watching TV or playing video games and snacking on whatever is available (Mokdad, et al., 1999).

If there is healthy food in the house this is often not a problem, but many households are full of potato chips, candy, soda,…...

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Bibliography

Anderson, J.G. (1987). Structural equation models in the social and behavioral sciences: Model building. Child Development, 58, 49-64.

Arlin, M. (1976). Causal priority of social desirability over self-concept: A cross-lagged correlation analysis. Journal of Personality and Social Psychology, 33, 267-272.

Averill, P. (1987). The role of parents in the sport socialization of children. Unpublished senior thesis, University of Houston.

Bandura, a. (1969). A social-learning theory of identificatory processes. In D.A. Goslin (Ed.), Handbook of socialization theory and research (pp. 213-262). Chicago: Rand McNally.