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The types of a political economy include socialism (which states that any production and wealth should be regulated and distributed by society), capitalism (where private owners control a nation's industry and trade for profit), and communism (the theory where all property is publicly-owned and everyone works based on their own needs and strengths).
Who Coined the Term Political Economy?
Adam Smith is generally considered the father of economics and the father of the political economy. But the term is generally ascribed to French economist Antoine de Montchrestien, who wrote the book "Traité de l'économie politique," which translates to the treaty of the political economy.1110
An operational plan describes the specific goals and objectives and milestones set by an organization during a specific period. (Objectives are specific tasks undertaken to meet broader goals. A goal may be to increase product sales by 3 percent; an objective may be to hire two additional sales agents.) It will allocate the tangible resources (labor, equipment, space) and authorize the financing necessary to meet the objectives of the plan. There are two types of operational plans: standing plans and single-use plans.
- Standing plansare plans designed to be used again and again. Examples include policies, procedures, and regulations. The advantage of standing plans is that they foster unity and fairness within an organization and help to support stated organizational values. Managers don’t have to make unique decisions already addressed by various organizational policies. Standing plans also save time because managers know in advance how to address common situations. Finally, standing plans aid in the delegation of work, because employees are already familiar with the procedures and regulations followed by the organization.
- Single-use plansrefer to plans that address a one-time project or event. The length of the plans varies, but the most common types are budgets and project schedules. The obvious advantage of a single-use plan is that it can be very specific in how it addresses the needs of a particular situation.
A company's financial statements offer investors and analysts a portrait of all the transactions that go through the business, where every transaction contributes to its success. The cash flow statement is believed to be the most intuitive of all the financial statements because it follows the cash made by the business in three main ways—through operations, investment, and financing. The sum of these three segments is called net cash flow.
These three different sections of the cash flow statement can help investors determine the value of a company's stock or the company as a whole.
Key Takeaways
- A cash flow statement provides data regarding all cash inflows a company receives from its ongoing operations and external investment sources.
- The cash flow statement includes cash made by the business through operations, investment, and financing—the sum of which is called net cash flow.
- The first section of the cash flow statement is cash flow from operations, which includes transactions from all operational business activities.
- Cash flow from investment is the second section of the cash flow statement, and is the result of investment gains and losses.
- Cash flow from financing is the final section, which provides an overview of cash used from debt and equity.
The most widely accepted budget by the organization is the one prepared by top management. b. The most widely accepted budget by the organization is the one prepared by the department heads. c. Budgets are hardly ever accepted by anyone except top management. d. Budgets have a greater chance of acceptance if all levels of management have
To solve these problems the relationship between the financial leverage and the value of the firm or cost of capital has to be studied. Capital structure planning which aims at the maximization of profits and wealth of the shareholders ensures the maximum value of a firm or the minimum cost of capital. It is very important for the financial manager to determine the proper mix of debt and equity for his firm.
What are the primary factors influencing a company’s capital structure decision? Which we have to understand.
What is Capital Structure In Financial Management.
#1. Trading on Financial Profit or Equity#2. Company’s tax exposure#3. Management Style#4. Business Risk#5. Growth Rate#6. Market Status#7. Financial Flexibility#8. Interest Coverage Ratio – ICR#9. Cash flow conditions#10. Debt Service Coverage Ratio – DSCR#11. Personal thoughts#12. Return on Investment-ROI#13. Cost of loan#14. Tax Rate#15. Flotation Cost#16. Cost of equity capital#17. Control#18. Stock Market Status#19. Regulatory Framework#20. Capital Structure of Other Companies
Calculate your material costs separately
Add labor costs to material costs to get your total direct costs
Divide the total direct costs by the total square footage of your sample using this formula: Labor cost / square footage = cost per square foot for labor
Add 10% for waste and productivity
Add the cost per square foot for labor to your database
You’ll need to do these computations for each type of item until you have everything you need for your project in your database.
After you’re able to estimate the project in full, then you add the duration of the project, equipment, supervision, profit, and overhead to get your final price.
The square foot method is a commonly used method because of its multiple strategic benefits.
Below you’ll learn about the strategic benefits of the square foot method, including:
How to use it in your prospecting.
How to use it as a last-minute bidding method.
How to prepare a budget estimate.
The fiscal year was set in section 237 in the Revised States (R.S.§237) by an Act from the 43rd Congress “to revise and consolidate the statutes of the United Sates, in force on the first day of December, anno Domini,” 1873. The fiscal year was set to begin on July 1 of each year. This was then restated in 1890 by an Act related to the duties of the House Sergeant of Arms. The date of the fiscal year was not changed.
Title V of the Congressional Budget Act of 1974 was signed into law on July 12, 1974 and changed the fiscal year to begin on October 1 of each year, and classified to 31 U.S.C. 1020 of the U.S. Code. The section was renumbered by Pub. L. 97-258 as 31 U.S.C. 1102, but did not make any substantive change. See table below.
GAO Glossary of Terms and Definition (September 2005)
Fiscal Year
Any yearly accounting period, regardless of its relationship to a calendar year. The fiscal year for the federal government begins on October 1 of each year and ends on September 30 of the following year; it is designated by the calendar year in which it ends. For example, fiscal year 1990 began October 1, 1989, and ended September 30, 1990. (Prior to fiscal year 1977, the federal fiscal year began on July 1 and ended on June 30. The 3-month period, July 1, 1976, to September 30, 1976, between fiscal years 1976 and 1977 is called the transition quarter (“TQ”).) (For a more detailed description of the budget process, see app. I.)
The correct answer is b) A box-whisker diagram.
2. Based on the chart, what was the median mark (approximately)?
The correct answer is d) 65%. This is because the centre of the boxplot (the white space between the two black boxes) falls at about 65% on the y-axis.
3. Based on the chart, what was the interquartile range of marks (approximately).
The correct answer is a) 14%. This is because 72% – 58% = 14%.
4. What does a histogram show? (Hint: Histograms are also known as frequency distributions.)
- A histogram is a graph in which values of observations are plotted on the horizontal axis, and their density is plotted on the vertical axis.
- A histogram is a graph in which levels of the independent variable are plotted on the horizontal axis, and the mean of observations is plotted on the vertical axis.
- A histogram is a graph in which values of observations are plotted on the horizontal axis, and the frequency with which each value occurs in the data set is plotted on the vertical axis.
- A histogram is a graph in which values of one variable are plotted against values of a different variable.
A dependent variable is a variable whose value depends upon independent variable s. The dependent variable is what...
A dependent variable is a variable whose value depends upon independent variable s. The dependent variable is what is being measured in an experiment or evaluated in a mathematical equation. The dependent variable is sometimes called "the outcome variable."
In a simple mathematical equation, for example:
a = b/c
the dependent variable, a , is determined by the values of b and c .
Here's a simple example:
A city planner needs to compare the number of drivers who go through red lights between 8 a.m. and 9 a.m. with the number of drivers who do so between 9 a.m. and 10 a.m. In this scenario, the time span is the independent variable and the difference in the number of drivers going through red lights during those time spans is the dependent variable.
The projection of financial position at the end of the budget period is found on the budgeted balance sheet. sales budget. budgeted income statement. cash budget. Question: The projection of financial position at the end of the budget period is found on the budgeted balance sheet. sales budget. budgeted income statement. cash budget.
Top management notices a variation from budget and an investigation of the difference reveals that the department manager could not be expected to have controlled the variation. Which of the following statements is applicable? Department managers should only be held accountable for controllable variances for their departments.
They help communicate goals and provide a basis for evaluation. is an aid to management. Nice work! You just studied 73 terms! Now up your study game with Learn mode. Why are budgets useful in the planning process? They help communicate goals and provide a basis for evaluation. is an aid to management.