Define Current Year
Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.
Encumbrance: The commitment of all or portion of an appropriation for future expenses. The Encumbrances symbolize commitments associated to unfilled purchase orders or unfulfilled contracts. Exceptional encumbrances are recognized as budgetary expense
Why do businesses spend effort, time and money to generate forecasts? Describe.Businesses succeed or fail based on how well prepared they are to deal along with the situations they confront in the future. Hence they expend considerable sum
Service Revolving Fund: A fund employed to account for and finance most of the client services provided by the Department of General Services. The amounts expended by the fund are repaid by sales and services priced at rates adequate to keep the fund
Executive Branch: One of the three branches of state government, accountable for administering and implementing the state's laws and programs. The Governor's Office and those individuals, departments, and offices reporting to it (that
How are the members of the board of directors of corporation selected and to whom do these board members owe their prime allegiance? Members of corporation's board of directors are chosen by the common stockholders and owe their allegiance to th
Equity Financing: New or small businesses might find it hard to get debt financing therefore they turn to equity funding. The Equity financing frequently comes from non-professional investors like family, friends, or employees. This can as well come f
Explain primary assumption behind the experience approach to forecasting?The experience approach to forecasting is depending on the supposition that things will happen a certain way in the future since they happened that way in the past. For exa
Explain the impact on India on Global Economic crisis ?
Explain negative consequences of a company holding too much cash? A company holding too much cash would be giving up the chance to invest more in income generating assets
Why is the coefficient of variation frequently a better risk measure while comparing different projects than the standard deviation?Whenever we desire to compare the risk of investments which have different means, we employ the coefficient of va
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