Define Budget Year
Budget Year (BY): The next state fiscal year, starting July 1 and ending June 30, for which the Governor's Budget is proposed (that is, the year following the present fiscal year).
Clarify retained earnings? Describe importance of this? Retained earnings represent the sum of all the earnings available to common stockholders of a business at the time of its entire history, minus the tota
Settlements: It refers to any proposed or final settlement of the legal claim (generally a suit) against the state. Approval of payments and settlements for settlements are subject to several controls.
Budget Bill: The legislation symbolizing the Governor’s proposal for spending authorization for the subsequent fiscal year. The Budget Bill is all set by the Department of Finance and submitted to each house of the Legislature i
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Clarify the duties of the financial manager within a business firm.Financial managers measure the firm's performance, find out what the financial consequences will be if the firm maintains its present course or changes it, and suggest how the fi
1. Albert Jones went to his local department store to purchase a pair of Levi s. He thought that the style of Levi that he wanted would sell for about $30 a pair. When he got to the store, he saw a sign which said, Levi s, all styles, $18 a pair. Albert bought three pairs of Levi s. The behavior of
Why do analysts compute financial ratios? Ratios are comparative measures. Since the ratio illustrates relative value, they let financial analysts to compare information which could not be compared in its raw form. For instance, rati
Fiscal Year (FY): Twelve-month periods throughout which income is earned and received, compulsions are incurred, encumbrances are prepared, appropriations are expended, and for which the other fiscal transactions are recorded. In Cali
Technical: In the budget systems, refers to an amendment which clarifies, accurate, or else does not materially influence the purpose of a bill.
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