Tuesday, January 7, 2020

Public Budgeting And Financial Management Final Exam

Public Budgeting and Financial Management Final Exam This course is very crucial because I learned how to prepare a budget using Excel. I did not know that with Excel I could do everything related to budgeting and transfer it to Microsoft Word. Several factors that could potentially influence predicted revenues include: unemployment, economic recession, political instability. When a country is hit by economic recession, this affects the revenue projections and collections. For instance, many people lose their jobs and less income taxes are collected because people are unemployed. This also spills over to sales tax, when people are unemployed or lost their job, this reduces their buying power. Again, less property taxes will be collected because less people can afford to buy things like cars or build houses. Furthermore, political instability affects the collection of revenue because investors want to invest where there is stability. Political instability scares investors and the country, state or city loses money, such as property taxes, income taxes, sales taxes, and user fees when investors pull out of such places. Unemployment is another factor the influences predicted revenues when less people are employed in the city will collect less taxes. Playing the role of the budget agency head/director is not an easy task. Budgeting process involves a variety of actors whom their individual demands must be considered in the when making a budget request. Sometimes these actorsShow MoreRelatedChartered Accountant1097 Words   |  5 Pagesthe subjects of Accountancy, Auditing, Business Management, Information Technology, Taxation, Corporate and Commercial Law, Financial Management, Economics and other linked subjects. 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