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| Budget (2) | |
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| BUDGET (2) Definition: An official statement by the government of a country's income from taxes, etc. and how it will be spent. ______________________________________________________________________ * All nine elements should be in. 1. Purposeful and necessary (to emphasize). 2. Covers a specific, identifiable or definite period of time. 3. The basis or assumptions and projections made will be real or realistic. That is, estimates, guesstimates, etc. will be reasonable. In other words, diligently planned income and expenditure statement. 4. Details in statement are full and complete, current and correct, transparent and understandable. 5. Compiled and released timely, before the start of the particular period (= budget cycle) in question. 6. Has accompanying notes and/or explanations, annexes, graphs, etc. 7. Will have a seal of approval. That is, government statement will be, to a large extent, a legal document. In other words, will be signed by the head of government or appropriate official(s) charged with responsibility, as necessary (if applicable). 8. Provisions and arrangements to monitor the realization of its income figures and the execution of its expenditure goals will be in place - if not included in statement - and these would be sincerely observed, pursued or complied with. That is, intentions in statement will be implementable. (To emphasize.) 9. Serves purpose(s), initially as a guide and subsequently as a tool or an instrument for the country's industrial growth, social progress and economic development. That is, statement will, in the end, create jobs and inspire national advancement. ________________________________ SURPLUS. DEFICIT. BALANCED. Quote: "Balanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets". Thomas Sowell. Quote: "Nothing is illegal if one hundred well-placed businessmen decide to do it". - Andrew Young. Quote: "Government always finds a need for whatever money it gets". - Ronald Reagan. | |
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1520 Products was established in 2005 with the purpose of entertaining and teaching us on key and important aspects of life (such as marriage, sex, etc) through the playing of games which will allow us to laugh but at the same time pass a message of what is the right or ideal way. |
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