BUS291 - Business Finance 12/8/2013
|
|
- Maud Quinn
- 5 years ago
- Views:
Transcription
1 1 Chapter 1 Financial Fundamentals 1.1 FINANCE IN SOCIETY 1.2 PERSONAL FINANCIAL DECISIONS 1.3 BUSINESS FINANCIAL ACTIVITIES 1.4 GOVERNMENT FINANCES Finance in Society money finance inflation financial market security stock bond liquidity Terms Finance in Society Financial Activities in Action money any item that serves as a method of payment finance activities involved with saving, investing, and using money by individuals, businesses, and governments 1
2 Finance in Society Participants In Financial Systems financial system financial relationships between people, businesses and governments saving spending paying taxes earning interest receiving a salary buying investments Individual Consumers and Investors Your first role in the financial system is as a consumer. purchasing saving investing 2
3 Businesses Businesses sell the goods and services which they produce. pay operating expenses earn a profit borrow money Government The government provides and maintains community services. collects taxes and fees borrows money Finance in Society Factors Affecting Financial Activities Economic Conditions 1. Interest Rates are determined by supply and demand 3
4 2. Consumer Prices inflation a rise in the general level of prices consumer price index (cpi) measures average change in prices 3. Money Supply the amount of money in circulation in an economy affects spending and borrowing Finance in Society Governmental Regulations Governments create regulations for fairness in financial transactions. Securities and Exchange Commission (SEC) promotes clear and full investment information protects investors against fraud and deception Finance in Society Global Business Activities trade surplus when a country exports more than it imports trade deficit when a country imports more than it exports foreign exchange rate the value of a country s currency in relation to the value of the money in another country 4
5 Financial Markets market a place where something is bought or sold financial market a location where buyers and sellers of financial products meet to conduct business security an investment issued by a corporation, government or other organization representing ownership or debt stock a security representing ownership in a corporation bond a debt that is borrowed by a company or a government Types Of Financial Markets 5
6 money markets financial markets where short-term debt securities (less than one year) are bought and sold capital markets financial markets where debt and equity securities are issued for more than a year debt securities borrowing by companies or governments equity securities represent ownership stock Value Of Securities 1. Supply and Demand when a stock is in demand, the value of the stock increases when demand for a stock goes down, the value of the stock decreases 2. Future Cash Flows expected return amount of future cash flows rate of return (yield) the relationship between the amount received and the cost of an investment 3. Risk Changing economic conditions, political uncertainty, and shifting consumer buying preferences 6
7 4. Liquidity the ease and speed with which an investment can be converted into cash 5. Interest Rates the cost of money The risk return relationship is of primary importance. Higher-risk investments are connected with higher potential returns. Although a person has the opportunity to make more money, there will often be a loss. Personal Financial Decisions Terms personal financial planning financial plan personal financial goal opportunity cost 7
8 Personal Financial Decisions Finance In Your Life scarcity requires that you make financial decisions personal financial planning the process of managing your money to achieve personal economic satisfaction Benefits of personal financial planning include Better actions for using your finances Effective control of your spending Improved personal relationships A sense of freedom from financial worries financial plan a formal report with a summary of your current financial situation along with plans for future financial activities 8
9 Personal Financial Decisions Influences On Personal Financial Decisions Personal Life Situation Over the course of a lifetime, spending habits will change in support of and in reaction to lifestyle changes. Economic Factors Personal financial planning will be impacted by external forces including inflation, interest rates, and unemployment. The Financial Planning Process Step 1 Determine Current Situation know where you are now income savings living expenses debts assets liabilities 9
10 Step 2 Set Financial Goals personal financial goal a desired outcome for financial planning realistic specific and measurable time-specific action-based Step 3 Evaluate Alternatives consider a variety of solutions even if you make no new choices, not making a change also has a consequence Opportunity Cost Every course of action you choose means you will give up something else. opportunity cost what you give up by making a choice trade-offs time value of money the increase in an amount of money as a result of interest earned Risk Uncertainty is part of every decision. Gather information about risk prior to making financial decisions. 10
11 Step 4 Create an Action Plan After evaluating alternatives, develop an action plan to achieve your goals. Step 5 Review Your Progress After you have taken an action, regularly review your financial decisions. An annual review is recommended. Tweaking financial plans may be necessary in response to changes in life situations. Personal Financial Decisions Personal Financial Decisions As you implement the financial planning process, you will make decisions in five areas. Obtaining Financial Resources Planning The Use Of Financial Resources Saving And Investing Decisions Borrowing Activities Managing Financial Risk Obtaining Financial Resources Financial resources can be obtained through employment investments business ownership 11
12 Planning The Use Of Financial Resources Spending less than you receive is the only path for achieving personal financial security. budget a wise spending plan Saving And Investing Decisions regular savings plan setting aside income on a planned basis to cover non-routine costs, including emergencies and large purchases investments diversification investing in a variety of assets investing allows for long-term asset growth Borrowing Activities The wise use of credit is necessary to avoid financial difficulties. Be prudent when using credit. Managing Financial Risk Every financial decision has risk. Use insurance to protect your assets and future wages. 12
13 Business Financial Activities Terms deposit institution non-deposit institution source of funds use of funds Business Financial Activities Types of Financial Institutions financial institutions (financial intermediaries) handle money receipts, payments and lending Business Financial Activities Deposit Institutions deposit institutions (depository institutions) accept deposits from people and businesses to use in the future Commercial banks (full-service banks) offer a wide range of financial services checking accounts savings accounts loans also offer other services to individuals and businesses 13
14 Thrift Institutions savings and loan association (S&L) savings accounts and home mortgages mutual savings bank savings and home loans bank owned by depositors bank depositors receive bank profits Credit Union a user-owned, not-for-profit, cooperative financial institution accepts deposits makes loans offers a variety of financial services Non-deposit Institutions non-deposit institutions life insurance companies investment companies consumer finance companies mortgage companies check-cashing outlets pawnshops Life Insurance Companies People buy life insurance to provide financial security for their dependents. Many life insurance companies also sell investments. Investment Companies long-term growth opportunities worldwide, over 30,000 mutual funds are available 14
15 Consumer Finance Companies loans for durable goods do not accept savings Mortgage Companies provide real estate loans Check-Cashing Outlets (CCOs) Although CCOs offer a variety of financial services, their fees are normally higher than other financial institutions. Pawnshops offer loans based on the value of a tangible object usually charge higher fees than other lending institutions Business Financial Activities Sources and Uses of Funds Inflows and outflows of cash and credit provide necessary funds for current and long-term business activities. 15
16 source of funds inflow of cash that can be used for paying various expenses revenue investor funds borrowing use of funds outflow of money by a company current expenses involves expenses consumed within a year capital expenditures (capital projects) involves expenses consumed over multiple years Government Finances revenue income tax property tax sales tax municipal bond Terms Government Finances Government Financial Activities Government plays a significant role in every economic system. 16
17 Functions Of Government provide public services protect people and businesses regulate financial activities while promoting competition provide information and assistance purchase goods and services hire public employees raise revenue Levels Of Government Federal Government oversees the activities that involve two or more states or other countries regulates foreign trade regulates interstate commerce business transactions involving companies in more than one state State Government regulates business activities within own boundaries intrastate commerce transactions involving companies that do business in only one state Local Government county boards city or town councils services for an orderly society 17
18 Sources of Government Funds revenue government income taxes fines fees and licenses Taxes Taxes pay for government services. income taxes levied on the income of individuals corporate income taxes based on business profits property tax based on the value of land and buildings sales tax a state or local tax on goods or services that is collected by the seller Borrowing Governments often borrow money by selling bonds. The government pays interest on the bonds. 18
19 Federal Government Borrowing U.S. savings bonds Treasury bills Treasury notes Treasury bonds State and Local Government Borrowing municipal bonds debt security issued by a state or local government low risk tax free interest 19
CFIN 1: Financial Fundamentals 1
CFIN 1: Financial Fundamentals 1 1-1 Finance in Society OBJECTIVES Describe the role of finance in the economy. Identify types of financial markets. FINANCIAL ACTIVITIES IN ACTION Each day, you probably
More informationPART 6 The macroeconomic environment
PART 6 The macroeconomic environment 1 of 38 Economy s Income & Expenditure Gross Domestic Product (GDP) Measures the total income of everyone in the economy Measures the total expenditure on the economy
More informationTopics in Banking: Theory and Practice Lecture Notes 1
Topics in Banking: Theory and Practice Lecture Notes 1 Academic Program: Master in Financial Economics (Research track) Semester: Spring 2010/11 Instructor: Dr. Nikolaos I. Papanikolaou The financial system
More informationChapter 15. Multiple Deposit Creation and the Money Supply Process
Chapter 15 Multiple Deposit Creation and the Money Supply Process Players in the Money Supply Process Central bank - the government agency that oversees the banking system and is responsible for the conduct
More informationECONOMICS WITH FINANCIAL LITERACY CURRICULUM MAP
2017-2018 Teachers may determine their own pacing of the following topics over the course of the quarter, so long as all the standards are covered. THE ECONOMIC WAY OF THINKING....1 ECONOMIC SYSTEMS. 1
More informationAssessment: Career Path Interview. Preparing for Higher Education Planning for Higher Education Paying for Higher Education. Applying for a Job
Aligned with the Take Charge Today Advanced Level lesson plans. Advanced Level Course Intro. Money in your Life Financial Decisions Setting Financial Goals Assessment: A Collage of My Life Introduction
More informationPersonal Finance (2016)
Personal Finance (2016) Course This unit will explore the fundamentals of economics. This unit will cover key financial terms and their application to our everyday lives. This unit will go in depth, discussing
More information10/30/2018. Chapter 17. The Money Supply Process. Preview. Learning Objectives
Chapter 17 The Money Supply Process Preview This chapter provides an overview of how the banking system create and describes the basic principles of the money supply creation process Learning Objectives
More informationEconomics Glossary of Terms
Economics Glossary of Terms (for use with the crossword puzzle) asset anything of value owned by an individual or a corporation (i.e. cash, buildings, machinery, land, raw materials, etc.) balance of payments
More informationCourse Economics and Business Management Prof. Dr. Marius Dannenberg. Chapter 3 Markets and Government in the Global Economy
Course Economics and Business Management Prof. Dr. Marius Dannenberg Chapter 3 Markets and Government in the Global Economy Syllabus: Economics and Business Management Chapter 1 Introduction Understanding
More informationFinancial Institutions, Markets, and Money, 9 th Edition
Power Point Slides for: Financial Institutions, Markets, and Money, 9 th Edition Authors: Kidwell, Blackwell, Whidbee & Peterson Prepared by: Babu G. Baradwaj, Towson University And Lanny R. Martindale,
More informationFull file at
2 MONEY MANAGEMENT STRATEGY: FINANCIAL STATEMENTS AND BUDGETING CHAPTER OVERVIEW Successful money management is based on organized financial records, accurate personal financial statements, and effective
More informationCHAPTER 2 MONEY MANAGEMENT SKILLS
CHAPTER 2 MONEY MANAGEMENT SKILLS CHAPTER OVERVIEW Successful money management is based on organized financial records, accurate personal financial statements, and effective budgeting. This chapter offers
More informationChapter 1 Why Study Money, Banking, and Financial Markets?
Chapter 1 Why Study Money, Banking, and Financial Markets? MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Markets in which funds are transferred
More informationUnit Two, Day One (pages , )
Unit Two, Day One (pages 860-889, 585-608) What is the difference between macro and micro? National Debt v. Deficit (NOT THE SAME THING) National Debt Deficit In the circular flow the seller receives exactly
More informationGrade 12 Social Studies: Economics, the Enterprise System, and Finance
Grade 12 Social Studies: Economics, the Enterprise System, and Finance NYS Learning/Core Standards Content (What needs to be taught?) Curriculum Materials Used (All) Assessments Used (Daily/Weekly/Benchmarks)/
More informationPAPER No. : 4 Basic Macroeconomics MODULE No. : 2- Circular Flow of Income and Expenditure
Subject Paper No and Title Module No and Title Module Tag 4, Basic Macroeconomics 2, Circular Flow of Income and Expenditure ECO_P4_M2 TABLE OF CONTENTS 1. Learning Outcomes 2. Introduction 3. The Four
More informationReview Material for Exam I
Class Materials from January-March 2014 Review Material for Exam I Econ 331 Spring 2014 Bernardo Topics Included in Exam I Money and the Financial System Money Supply and Monetary Policy Credit Market
More informationPersonal Finance Unit 1 Chapter Glencoe/McGraw-Hill
0 personal financial planning arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals Personal Financial Decisions Personal finance is everything in your
More informationECONOMICS: THE FRAMEWORK FOR BUSINESS. BUSN11 Chapter 2
ECONOMICS: THE FRAMEWORK FOR BUSINESS BUSN11 Chapter 2 Economics: Navigating a Crisis 2-1 Understanding how the government, businesses, and individuals respond to issues requires understanding some basic
More informationChapter 03. Chapter 3 Learning Objectives. Successful Money Management. Money Management Strategy: Financial Statements and Budgeting
Chapter 03 Money Management Strategy: Financial Statements and Budgeting McGraw-Hill/Irwin Copyright 2012 by The McGraw-Hill Companies, Inc. All rights reserved. 3-1 Chapter 3 Learning Objectives 1. Recognize
More informationEconomic Fundamentals
CHAPTER 5 Economic Fundamentals INTRODUCTION Economics, put simply, is the study of shortages supply vs. demand. As the demand for a product or service rises, the price of those goods or services will
More informationDEBT. Liabilities A liability is a company s (or individual s) financial debt or obligations that arise during the course of its business operations.
FINANCIAL ABCs DEBT Amortization Amortization is the paying off of debt with a fixed repayment schedule in regular installments over a period of time, e.g., with a mortgage or a car loan. Annual Percentage
More informationTHE FINANCIAL SYSTEM 1
THE FINANCIAL SYSTEM 1 Brief intro Ing. Jan Oplatek, MBA Client Operational Head Banking & Capital markets Infosys BPO - Equity, Bond, Derivatives & FX trader - M&A, corp. Finance - Retail banking management
More informationFINANCIAL MARKETS FINANCIAL INSTRUMENTS FINANCIAL INSTITUTIONS. Lecture 2 Monetary policy FINANCIAL MARKETS
FINANCIAL MARKETS FINANCIAL INSTRUMENTS FINANCIAL INSTITUTIONS Lecture 2 Monetary policy FINANCIAL MARKETS markets in which funds are transferred from people who have an excess of available funds to people
More informationCEE National Standards for Financial Literacy
Episode 101 What Is a Biz Kid? Episode 102 What Is Money? Episode 103 How Do You Get Money? Episode 104 What Can You Do with Money? Episode 105 Money Moves Episode 106 Taking Charge of Your Financial Future
More informationContra Costa County Schools Insurance Group Investment Policy As of June 14, 2018
Contra Costa County Schools Insurance Group Investment Policy As of June 14, 2018 I. Introduction The purpose of this document is to identify various policies and procedures that enhance opportunities
More informationOperational Services
Page 1 of 7 Revenue and Investments Revenue Operational Services The Superintendent or designee is responsible for making all claims for property tax revenue, State Aid, special State funds for specific
More informationThe Role of Financial Institutions and Markets
Contents Chapter 1 The Role of Financial Institutions and Markets 1.1 Financial System... 1 1.2 Financial Institutions... 1 1.3 Financial Markets... 3 1.4 Functions of Financial Markets... 4 1.5 The Role
More informationGovernment Finances: Fiscal Policy, Taxing and Spending Fiscal Policy Government Budget Federal Government Revenue Federal Government Expenditures
Government Finances: Fiscal Policy, Taxing and Spending Fiscal Policy Government Budget Federal Government Revenue Federal Government Expenditures State Government Local Government Fiscal Policy Fiscal
More informationWest Windsor-Plainsboro Regional School District Financial Literacy
West Windsor-Plainsboro Regional School District Financial Literacy Content Area: Financial Literacy Course & Grade Level: Financial Literacy, 9-12 Financial Literacy Summary and Rationale The vision of
More informationBudgeting and Spending Plans. W!se Unit 2
Budgeting and Spending Plans W!SE UNIT 2 W!se Unit 2 First Car and My Parents are Spenders Everyone must make financial decisions. Identifying your financial goals and planning how to get the most from
More informationPractice Problems: Chapter 10 Savings, Investment Spending, and the Financial System
Practice Problems: Chapter 10 Savings, Investment Spending, and the Financial System 1. In a closed economy, all investment spending must come from: A) government. B) domestic savings. C) foreign savings.
More informationThe Mortgage Industry
Financing Residential Real Estate Lesson 4: The Mortgage Industry Introduction In this lesson, we will cover: steps in the residential mortgage process; participants in the process, including loan originators
More informationEconomic Policy. Sherif Khalifa. Sherif Khalifa () Economic Policy 1 / 25
Sherif Khalifa Sherif Khalifa () Economic Policy 1 / 25 Issuer of currency, manager of foreign reserves, prints money and intervenes in foreign exchange markets to regulate the national currency s rate
More informationKrugman/Wells. The following materials are taken from Chap. 26, Economics, 2 nd ed., Krugman and Wells(2009), Worth Palgrave MaCmillan.
chapter: 26 Krugman/Wells The following materials are taken from Chap. 26, Economics, 2 nd ed., Krugman and Wells(2009), Worth Palgrave MaCmillan. 2009 Worth Publishers 1 of 58 WHAT YOU WILL LEARN IN THIS
More informationAmelia National Community Development District
Amelia National Community Development District FINANCIAL STATEMENTS September 30, 2015 Table of Contents September 30, 2015 REPORT Independent Auditors Report 1 FINANCIAL STATEMENTS Management s Discussion
More informationCity Gate Community Development District DRAFT FINANCIAL STATEMENTS. September 30, 2014
City Gate Community Development District FINANCIAL STATEMENTS September 30, 2014 Table of Contents September 30, 2014 REPORT Independent Auditor s Report 1 FINANCIAL STATEMENTS Management s Discussion
More informationCh. 2 AN OVERVIEW OF THE FINANCIAL SYSTEM
Ch. 2 AN OVERVIEW OF THE FINANCIAL SYSTEM To "finance" something means to pay for it. Since money (or credit) is the means of payment, "financial" basically means "pertaining to money or credit." Financial
More informationTUTORIAL KIT OMEGA SEMESTER PROGRAMME: BANKING AND FINANCE
TUTORIAL KIT OMEGA SEMESTER PROGRAMME: BANKING AND FINANCE COURSE: BFN 221 NIGERIAN BANKING AND FINANCIAL ENVIRONMENT i DISCLAIMER The contents of this document are intended for practice and leaning purposes
More information01 Measuring a Nation s Income Econ 111
01 Measuring a Nation s Income Econ 111 Measuring a Nation s Income (Chapter 10) Macroeconomics is the study of the economy as a whole. Its goal is to explain the economic changes that affect many households,
More informationFinancial Literacy Map
November 2015 Committee for the Promotion of Financial Education (Secretariat: Central Council for Financial Services Information) Financial Literacy Map Standard Learning Goals for Different Age Groups
More informationConsumer Financial Protection by Federal Agencies
Consumer Financial Protection by Federal Agencies Mark Jickling Specialist in Financial Economics October 14, 2009 Congressional Research Service CRS Report for Congress Prepared for Members and Committees
More informationPFIN 10: Understanding Saving and Investing 62
PFIN 10: Understanding Saving and Investing 62 10-1 Reasons for Saving and Investing OBJECTIVES Explain the difference between saving and investing. Describe reasons for saving and investing. Describe
More informationTABLE OF CONTENTS Page INTRODUCTORY NOTES... 4
TABLE OF CONTENTS Page INTRODUCTORY NOTES... 4 1. SUMMARISED ACCOUNTS OF THE BANKING SYSTEM 1.1 CENTRAL BANK OF KENYA 1.1.1 Assets... 10.1.1.2 Liabilities... 11 1.2 OFFICIAL RESERVES.1.2.1 Foreign Assets...
More informationCIE Economics A-level
CIE Economics A-level Topic 4: The Macroeconomy f) Money supply (theory) Notes Quantity theory of money (MV = PT) The Quantity Theory of Money states that there is inflation if the money supply increases
More information1. Primary markets are markets in which users of funds raise cash by selling securities to funds' suppliers.
Test Bank Financial Markets and Institutions 6th Edition Saunders Complete download Financial Markets and Institutions 6th Edition TEST BANK by Saunders, Cornett: https://testbankarea.com/download/financial-markets-institutions-6th-editiontest-bank-saunders-cornett/
More informationThe business of making money. Rate of return of a simple asset /1. The role of financial assets /2
1 The business of making money In a modern monetary economy, goods are typically not exchanged for goods but for fiat money. Therefore, even though people are ultimately interested in getting goods, the
More informationOKALOOSA COUNTY, FLORIDA CLERK OF CIRCUIT COURT (EX OFFICIO CLERK TO THE BOARD) REVENUE AND INVESTMENTS OFFICE FINANCE DIVISION
POLICY NO. 3801 INVESTMENT AND PORTFOLIO POLICY OKALOOSA COUNTY, FLORIDA CLERK OF CIRCUIT COURT (EX OFFICIO CLERK TO THE BOARD) REVENUE AND INVESTMENTS OFFICE FINANCE DIVISION INVESTMENT AND PORTFOLIO
More informationGeneral Financial Literacy
General Financial Literacy Levels: Grades 11-12 Units of Credit: 0.50 Core Code: 01-00- 00-00- 100 Prerequisite: None COURSE DESRIPTION The General Financial Literacy course for juniors and seniors encompasses
More informationThe Structure of the Federal Reserve System
What Tools Does Monetary Policy Use to Stabilize the Economy? (EA) Monetary policy consists of decisions made by a central bank about the amount of money in circulation and interest rates. In the United
More informationChapter 1-3. Topics in Financial Decisions. Financial System and the Economy. Financial system affects the economic performance It consists of
Chapter 1-3 Topics in Financial Decisions Financial system affects the economic performance It consists of Financial markets Financial institutions Money How does each of the above affect the economy?
More informationChapter 2 The Domestic and International Financial Marketplace
Download Solution Manual for Contemporary Financial Management 13th Edition by Moyer Link full: https://testbankservice.com/download/solutionmanual-for-contemporary-financial-management-13th-editionby-moyer/
More informationCrossword. Edexcel GCSE Business Unit 1: 1.1 Spotting a Business Opportunity
Crossword Edexcel GCSE Business Unit 1: 1.1 Spotting a Business Opportunity 1 2 3 4 5 6 7 8 10 9 11 12 13 14 15 ACROSS 4. A way of positioning products compared with competitors (based on two dimensions)
More informationHow to Invest in the Real Estate Market
How to Invest in the Real Estate Market If you have the money to lend, then why not invest your money in the real estate market? You can use your money to buy properties way below the market value and
More informationParker Water and Sanitation District Douglas County, Colorado. Financial Statements December 31, 2017 and 2016
Douglas County, Colorado Financial Statements December 31, 2017 and 2016 Contents Independent auditor s report 1 Management s discussion and analysis 3-11 Basic financial statements Statements of net position
More informationGlossary. Alternatives The different possibilities to choose from in a given situation.
Glossary Alternatives The different possibilities to choose from in a given situation. Annual percentage rate (APR) The percentage cost of credit on an annual basis and the total cost of credit to the
More informationInterview Preparation Lecture. Venue: Career Launcher Tambaram Centre Date: 26 th January, 2018
Interview Preparation Lecture Venue: Career Launcher Tambaram Centre Date: 26 th January, 2018 Session One Duration: 1.5 hours What to expect from B-schools & what B-schools expects from you Why Economics??
More informationCHAPTER 31 Money, Banking, and Financial Institutions
CHAPTER 31 Money, Banking, and Financial Institutions Answers to Short-Answer, Essays, and Problems 1. What is money? Explain in terms of the functions of money. Money is whatever performs the three basic
More informationECONOMICS. Part V: Money Monetary Equation of Exhange Creation of banking. What does it mean to me? READ Mankiw, Chapter 29, 30, Morton Unit 4
ECONOMICS What does it mean to me? Part V: Money Monetary Equation of Exhange Creation of banking READ Mankiw, Chapter 29, 30, Morton Unit 4 In any society, money is the asset, commodity or token, that
More informationUNIFIED GOVERNMENT WYANDOTTE COUNTY/KANSAS CITY, KANSAS CASH MANAGEMENT AND INVESTMENT POLICY. Revised and Adopted. June 20, 2013
UNIFIED GOVERNMENT OF CASH MANAGEMENT AND INVESTMENT POLICY Revised and Adopted June 20, 2013 Section 1. General Purpose Statement The Board of Commissioners has authority to invest all funds held by or
More information15 USC 78c. NB: This unofficial compilation of the U.S. Code is current as of Jan. 4, 2012 (see
TITLE 15 - COMMERCE AND TRADE CHAPTER 2B - SECURITIES EXCHANGES 78c. Definitions and application (a) Definitions When used in this chapter, unless the context otherwise requires (1) The term exchange means
More informationGovernment Finances: Fiscal Policy, Taxing and Spending Fiscal Policy Government Budget Federal Government Revenue Federal Government Expenditures
Government Finances: Fiscal Policy, Taxing and Spending Fiscal Policy Government Budget Federal Government Revenue Federal Government Expenditures State Government Local Government Fiscal Policy Fiscal
More informationThe expansion of the U.S. economy continued for the fourth consecutive
Overview The expansion of the U.S. economy continued for the fourth consecutive year in 2005. The President has laid out an agenda to maintain the economy's momentum, foster job creation, and ensure that
More informationTABLE OF CONTENTS. Page. Statistical Bulletin, December 2008 INTRODUCTORY NOTES SUMMARISED ACCOUNTS OF THE BANKING SYSTEM
TABLE OF CONTENTS Page INTRODUCTORY NOTES... 3 1. SUMMARISED ACCOUNTS OF THE BANKING SYSTEM 1.1 CENTRAL BANK OF KENYA 1.1.1 Assets... 10 1.1.2 Liabilities... 11 1.2 OFFICIAL RESERVES 1.2.1 Foreign Assets...
More informationRevenue and Investments 4.30
OPERATIONAL SERVICES Revenue The Superintendent or designee is responsible for making all claims for property tax revenue, State Aid, special State funds for specific programs, federal funds, and categorical
More informationTown of Ramapo, New York
Town of Ramapo, New York BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2015 TOWN OF RAMAPO, NEW YORK Table of Contents TABLE OF CONTENTS 2 INDEPENDENT AUDITOR
More informationCITY OF CHINO STATEMENT OF INVESTMENT POLICY ADOPTED APRIL 2, 2019
CITY OF CHINO STATEMENT OF INVESTMENT POLICY ADOPTED APRIL 2, 2019 1.0 POLICY: This statement is intended to provide guidelines for the prudent investment of the temporarily idle cash of the City of Chino
More information401(k) 529 plan a American Stock Exchange (ASE) annual fee annual percentage rate (APR) asset auto insurance b bad debt balance bank bankruptcy
401(k) A retirement savings plan funded by employees and often matched by contributions from the employer; contributions are usually made before taxes and grow tax-free until withdrawn, although after-tax
More informationPOL-BFA Business and Financial Affairs Short-Term Investment Policy for Western Washington University
POL-BFA5310.01 Business and Financial Affairs Short-Term Investment Policy for Western Washington University Approved by: Richard Van Den Hul, Vice President Business and Financial Affairs October 24,
More informationEconomics of Money, Banking, and Financial Markets, 11e (Mishkin) Chapter 2 An Overview of the Financial System. 2.1 Function of Financial Markets
Economics of Money, Banking, and Financial Markets, 11e (Mishkin) Chapter 2 An Overview of the Financial System 2.1 Function of Financial Markets 1) Every financial market has the following characteristic.
More informationAdvanced Sales. The Importance of Life Insurance. White Paper: The Own Your Own Policy Buy-Sell. Your future. Made easier. Number 11-1 June 1, 2011
Advanced Sales White Paper: The Own Your Own Policy Buy-Sell Number 11-1 June 1, 2011 Contact us: AdvancedSales@us.ing.com Buy-sell and business continuation agreements are important business planning
More informationGeneral Financial Literacy
PRECISION EXAMS General Financial Literacy EXAM INFORMATION Items 75 Points 85 Prerequisites NONE Grade Level 10-12 Course Length ONE SEMESTER Career Cluster 21 ST CENTURY SKILLS FINANCE Performance Standards
More informationEconomics Online Instructional Materials Correlation to the 2009 Economics and Personal Finance Standards of Learning and Curriculum Framework
and Curriculum Framework Provider York County School Division Course Syllabus URL http://yorkcountyschools.org/virtuallearning/coursecatalog.aspx Course Title Economics & Personal Finace Last Updated 2010-11
More informationChapter Eleven. Chapter 11 The Economics of Financial Intermediation Why do Financial Intermediaries Exist
Chapter Eleven Chapter 11 The Economics of Financial Intermediation Why do Financial Intermediaries Exist Countries With Developed Financial Systems Prosper Basic Facts of Financial Structure 1. Direct
More information1. Use a plan to manage spending and achieve financial goals. Unit 1, Ch. 1, 2, 3
Washington STATE STANDARD OR BENCHMARK: CORRELATES WITH: Spending and Saving 9.SS Financial Education Grade 9 Develop a plan for spending and saving. 1. Use a plan to manage spending and achieve financial
More informationDEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS
DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS LEGAL COMPLIANCE MANUAL DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS Introduction A government entity that receives and disburses funds may deposit
More informationFINANCIAL MANAGEMENT
FINANCIAL MANAGEMENT Question 1: What is financial management? Explain the functions of financial management. (May 13, Nov 11) (Mark 7) Answer: Financial management is that specialized activity which is
More informationFull file at CHAPTER 2 THE DOMESTIC AND INTERNATIONAL FINANCIAL MARKETPLACE
CHAPTER 2 THE DOMESTIC AND INTERNATIONAL FINANCIAL MARKETPLACE ANSWERS TO QUESTIONS: 1. The saving-investment cycle consists of net savers (surplus spending units) transferring funds to net investors (deficit
More informationCHAPTER 2 THE DOMESTIC AND INTERNATIONAL FINANCIAL MARKETPLACE
CHAPTER 2 THE DOMESTIC AND INTERNATIONAL FINANCIAL MARKETPLACE ANSWERS TO QUESTIONS: 1. a. A multinational corporation is a firm that has investments in manufacturing and/or distribution facilities in
More informationVillage of Channahon, Illinois Tax Increment Financing District Fund
Tax Increment Financing District Fund Independent Auditors Report on Supplementary Information and Independent Accountants Report CONTENTS Page INDEPENDENT AUDITORS' REPORT ON SUPPLEMENTARY INFORMATION
More informationWILMETTE PUBLIC LIBRARY DISTRICT WILMETTE, ILLINOIS
ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2017 TABLE OF CONTENTS Page(s) INDEPENDENT AUDITOR S REPORT... 1-3 GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS Management s Discussion and Analysis...
More informationHow Does the Banking System Work? (EA)
How Does the Banking System Work? (EA) What do you notice when you enter a bank? Perhaps you pass an automated teller machine in the lobby. ATMs can dispense cash, accept deposits, and make transfers from
More informationMONTEREY COUNTY TREASURY
MONTEREY COUNTY TREASURY WHAT WE DO: The Monterey County Treasury functions as the County s bank. The Treasury receives annual revenue from deposits totaling nearly $1.5 billion from county departments,
More informationTOWN OF SOUTH PALM BEACH, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED SEPTEMBER 30, 2009 PREPARED BY FINANCE DEPARTMENT TABLE OF CONTENTS Introductory Section Letter of Transmittal... i-iv Organizational Chart...v Certificate
More informationPARKER WATER AND SANITATION DISTRICT Douglas County, Colorado. FINANCIAL STATEMENTS December 31, 2014 and 2013
Douglas County, Colorado FINANCIAL STATEMENTS December 31, 2014 and 2013 TABLE OF CONTENTS PAGE INDEPENDENT AUDITOR S REPORT... I MANAGEMENT S DISCUSSION AND ANALYSIS... III BASIC FINANCIAL STATEMENTS
More informationIndonesia: Changing patterns of financial intermediation and their implications for central bank policy
Indonesia: Changing patterns of financial intermediation and their implications for central bank policy Perry Warjiyo 1 Abstract As a bank-based economy, global factors affect financial intermediation
More informationDEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS
DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS LEGAL COMPLIANCE AUDIT GUIDE DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS Introduction A government entity that receives and disburses funds may
More informationInvestment Policy Fiscal Year
Investment Policy Fiscal Year 2016-17 I. Introduction The investment policies and practices of the Contra Costa Transportation Authority (the Authority) are based on the principles of prudent money management
More informationLending to Municipalities
BANKERS INSIGHT GROUP, LLC Lending to Municipalities Understanding Their Unique Differences BIG BANKERS INSIGHT GROUP, LLC JEFFERY W. JOHNSON LENDING TO MUNICIPALITIES AND OTHER GOVERNMENT UNITS INTRODUCTION
More information06/08/ :39 MONROE COUNTY BOARD OF EDUCATION P khai BALANCE SHEET FOR glbalsht
06/08/2018 13:39 MONROE COUNTY BOARD OF EDUCATION P 1 FUND: 1 GENERAL FUND FOR PERIOD BALANCE 10 6101 CASH IN BANK 36,587.96 3,877,255.42 TOTAL 36,587.96 3,877,255.42 LIABILITIES 10 7461UN UNEMPLOYMENT
More informationBOGAZICI UNIVERSITY - DEPARTMENT OF ECONOMICS FALL 2016 EC 344: MONEY, BANKING AND FINANCIAL INSTITUTIONS - PROBLEM SET 2 -
BOGAZICI UNIVERSITY - DEPARTMENT OF ECONOMICS FALL 2016 EC 344: MONEY, BANKING AND FINANCIAL INSTITUTIONS - PROBLEM SET 2 - DUE BY OCTOBER 10, 2016, 5 PM 1) Every financial market has the following characteristic.
More informationTown of Henrietta. Financial Management and Purchasing. Report of Examination. Period Covered: January 1, 2011 March 29, M-208
O FFICE OF THE NEW YORK STATE COMPTROLLER DIVISION OF LOCAL GOVERNMENT & SCHOOL ACCOUNTABILITY Town of Henrietta Financial Management and Purchasing Report of Examination Period Covered: January 1, 2011
More informationCHAPTER 2 THE DOMESTIC AND INTERNATIONAL FINANCIAL MARKETPLACE
CHAPTER 2 THE DOMESTIC AND INTERNATIONAL FINANCIAL MARKETPLACE ANSWERS TO QUESTIONS: 1. The saving-investment cycle consists of net savers (surplus spending units) transferring funds to net investors (deficit
More informationCITY OF SOUTHFIELD, MICHIGAN
I N V E S T M E N T P O L I C Y CITY OF SOUTHFIELD, MICHIGAN TABLE OF CONTENTS I. Policy... 3 II. Scope... 3 III. Pooling of Cash and Investments... 3 IV. Investment Objectives... 3 Safety... 4 Liquidity...
More informationNORTHTOWN MUNICIPAL UTILITY DISTRICT
NORTHTOWN MUNICIPAL UTILITY DISTRICT YEAR ENDED FINANCIAL STATEMENTS, SUPPLEMENTARY INFORMATION AND INDEPENDENT AUDITOR S REPORT NORTHTOWN MUNICIPAL UTILITY DISTRICT FINANCIAL STATEMENTS, SUPPLEMENTARY
More informationOverview Of Municipal Budgeting From Preparation to Execution
The information provided here is for informational and educational purposes and current as of the date of publication. The information is not a substitute for legal advice. Consult your attorney for advice
More informationGLENN-COLUSA IRRIGATION DISTRICT AUDITED FINANCIAL STATEMENTS. September 30, 2017 and 2016
AUDITED FINANCIAL STATEMENTS September 30, 2017 and 2016 AUDITED FINANCIAL STATEMENTS September 30, 2017 and 2016 TABLE OF CONTENTS Independent Auditor s Report... 1 Management s Discussion and Analysis...
More informationLyons Township School Treasurer Township 38 North, Range 12 East Cook County, Illinois
Township 38 North, Range 12 East Cook County, Illinois Financial Statements Year Ended CONTENTS FINANCIAL SECTION Page Independent Auditors' Report 1-2 Management's Discussion and Analysis (Unaudited)
More informationTestimony of Stephen Agostini Chief Financial Officer,
Testimony of Stephen Agostini Chief Financial Officer, Consumer Financial Protection Bureau Before the House Financial Services Committee, Subcommittee on Oversight and Investigation June 18, 2013 Thank
More information