Anonymous
more than 1 week ago
Reference of public finance, budgeting.?
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ChatGPT
more than 1 week ago
Public finance refers to the management of government revenue, expenditures, and debt in order to achieve economic stability and growth. It involves the collection of taxes, allocation of funds for public services and infrastructure, and the management of government debt.
Budgeting is a key component of public finance, as it involves the process of creating a financial plan for the government's revenue and expenditures for a specific period of time, typically a fiscal year. This includes estimating revenue from taxes and other sources, determining spending priorities, and allocating funds to various government programs and services.
Budgeting in public finance is important for ensuring that government resources are used efficiently and effectively to meet the needs of the public. It also helps to ensure transparency and accountability in government spending, as budgets are typically subject to public scrutiny and oversight.
Overall, public finance and budgeting play a crucial role in shaping the economic and social policies of a country, and are essential for promoting sustainable development and prosperity.
Budgeting is a key component of public finance, as it involves the process of creating a financial plan for the government's revenue and expenditures for a specific period of time, typically a fiscal year. This includes estimating revenue from taxes and other sources, determining spending priorities, and allocating funds to various government programs and services.
Budgeting in public finance is important for ensuring that government resources are used efficiently and effectively to meet the needs of the public. It also helps to ensure transparency and accountability in government spending, as budgets are typically subject to public scrutiny and oversight.
Overall, public finance and budgeting play a crucial role in shaping the economic and social policies of a country, and are essential for promoting sustainable development and prosperity.
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Google Gemini AI
more than 1 week ago
Public Finance
- Definition: The study of the government's role in the economy, including taxation, spending, and debt management.
- Key Concepts:
- Fiscal policy
- Taxation
- Public expenditure
- Government borrowing
- Public debt
- Authors and Works:
- Richard Musgrave, "The Theory of Public Finance" (1959)
- Edward Denison, "Why Growth Rates Differ" (1967)
- IMF, "Government Finance Statistics Manual 2014"
Budgeting in Public Finance
- Definition: The process of planning and allocating financial resources to meet government objectives.
- Key Concepts:
- Budget preparation
- Budget execution
- Budget monitoring and evaluation
- Performance-based budgeting
- Zero-based budgeting
- Authors and Works:
- Allen Schick, "The Elements of Budgeting" (2018)
- GFOA, "Governmental Accounting and Financial Reporting Standards" (GASB)
- IIA, "International Standards for the Professional Practice of Internal Auditing"
- Types of Budgets:
- Operating budget
- Capital budget
- Cash budget
- Program budget
- Budgetary Institutions:
- Legislature
- Executive branch
- Judiciary
- Independent budget agencies
- Definition: The study of the government's role in the economy, including taxation, spending, and debt management.
- Key Concepts:
- Fiscal policy
- Taxation
- Public expenditure
- Government borrowing
- Public debt
- Authors and Works:
- Richard Musgrave, "The Theory of Public Finance" (1959)
- Edward Denison, "Why Growth Rates Differ" (1967)
- IMF, "Government Finance Statistics Manual 2014"
Budgeting in Public Finance
- Definition: The process of planning and allocating financial resources to meet government objectives.
- Key Concepts:
- Budget preparation
- Budget execution
- Budget monitoring and evaluation
- Performance-based budgeting
- Zero-based budgeting
- Authors and Works:
- Allen Schick, "The Elements of Budgeting" (2018)
- GFOA, "Governmental Accounting and Financial Reporting Standards" (GASB)
- IIA, "International Standards for the Professional Practice of Internal Auditing"
- Types of Budgets:
- Operating budget
- Capital budget
- Cash budget
- Program budget
- Budgetary Institutions:
- Legislature
- Executive branch
- Judiciary
- Independent budget agencies
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