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.
Describe difference between business risk and financial risk?Business risk refers to the uncertainty company hold regarding to its operating income (also termed as earnings before interest & taxes or EBIT). Business risk is brought onto sale
Assume the market for widgets can be described by the given equations: Demand: P = 10 - Q &
Describe how management aims are incorporated into proforma financial statements.Management decide a target goal, and forecasters generate proforma financial statements under the assumption that the goal will be
Explain intermediation.The financial system makes it achievable for surplus and deficit economic units to come together, exchanging funds for securities, to their mutual profit. While funds flow from surplus economic units to a financial institu
Control Sections: The sections of the Budget Act (that is, 1.00 to the end) giving specific controls on the appropriations itemized in the Section 2.00 of Budget Act.
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Budget: It is a plan of operation stated in terms of financial or other resource necessities for a particular period of time.
Out-of-State Travel (OST) blanket: The request by a state agency for Governor’s Office approval of the proposed out-of-state trips to be taken by that agency’s personnel throughout the fiscal year.
Define the term Baseline Adjustment or Baseline Budget: Baseline Adjustment: Also termed to as Workload Budget Adjustment. Q : Define CALSTARS CALSTARS : The acronym CALSTARS: The acronym for the California State Accounting and Reporting System that is the state's primary accounting system. Most of the departments presently use CALSTARS.
CALSTARS: The acronym for the California State Accounting and Reporting System that is the state's primary accounting system. Most of the departments presently use CALSTARS.
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