WorldWideScience

Sample records for means-tested financial allowance

  1. AICPA allows low-cost options for compiled financial statements.

    Science.gov (United States)

    Reinstein, Alan; Luecke, Randall W

    2002-02-01

    The AICPA Accounting and Review Services Committee's (ARSC) SSARS No. 8, Amendment to Statement on Standards for Accounting and Review Services No. 1, Compilation and Review of Financial Statements, issued in October 2000, allows financial managers to provide plain-paper, compiled financial statements for the exclusive use of management. Such financial statements were disallowed in 1979 when the AICPA issued SSARS No. 1, Compilation and Review of Financial Statements. With the issuance of SSARS No. 8, financial managers can prepare plain-paper, compiled financial statements when third parties are not expected to rely on the financial statements, management acknowledges such restrictions in writing, and management acknowledges its primary responsibility for the adequacy of the financial statements.

  2. The Vital Role of Administrative Cost Allowances to Student Financial Aid Offices: Key Findings from NASFAA's Administrative Cost Allowance Survey, July 2011

    Science.gov (United States)

    National Association of Student Financial Aid Administrators (NJ1), 2011

    2011-01-01

    The National Association of Student Financial Aid Administrators (NASFAA) recently conducted a survey on the 2009-10 award year Administrative Cost Allowances (ACA), which are funds used by colleges and universities to support operations and professional development. Specifically, ACA is often used in essential areas that support the day-to-day…

  3. Forecasting the Allocative Efficiency of Carbon Emission Allowance Financial Assets in China at the Provincial Level in 2020

    Directory of Open Access Journals (Sweden)

    Shihong Zeng

    2016-05-01

    Full Text Available As the result of climate change and deteriorating global environmental quality, nations are under pressure to reduce their emissions of greenhouse gases per unit of GDP. China has announced that it is aiming not only to reduce carbon emission per unit of GDP, but also to consume increased amounts of non-fossil energy. The carbon emission allowance is a new type of financial asset in each Chinese province and city that also affects individual firms. This paper attempts to examine the allocative efficiency of carbon emission reduction and non-fossil energy consumption by employing a zero sum gains data envelopment analysis (ZSG-DEA model, given the premise of fixed CO2 emissions as well as non-fossil energy consumption. In making its forecasts, the paper optimizes allocative efficiency in 2020 using 2010 economic and carbon emission data from 30 provinces and cities across China as its baseline. An efficient allocation scheme is achieved for all the provinces and cities using the ZSG-DEA model through five iterative calculations.

  4. In silico regenerative medicine: how computational tools allow regulatory and financial challenges to be addressed in a volatile market.

    Science.gov (United States)

    Geris, L; Guyot, Y; Schrooten, J; Papantoniou, I

    2016-04-06

    The cell therapy market is a highly volatile one, due to the use of disruptive technologies, the current economic situation and the small size of the market. In such a market, companies as well as academic research institutes are in need of tools to advance their understanding and, at the same time, reduce their R&D costs, increase product quality and productivity, and reduce the time to market. An additional difficulty is the regulatory path that needs to be followed, which is challenging in the case of cell-based therapeutic products and should rely on the implementation of quality by design (QbD) principles. In silico modelling is a tool that allows the above-mentioned challenges to be addressed in the field of regenerative medicine. This review discusses such in silico models and focuses more specifically on the bioprocess. Three (clusters of) examples related to this subject are discussed. The first example comes from the pharmaceutical engineering field where QbD principles and their implementation through the use of in silico models are both a regulatory and economic necessity. The second example is related to the production of red blood cells. The described in silico model is mainly used to investigate the manufacturing process of the cell-therapeutic product, and pays special attention to the economic viability of the process. Finally, we describe the set-up of a model capturing essential events in the development of a tissue-engineered combination product in the context of bone tissue engineering. For each of the examples, a short introduction to some economic aspects is given, followed by a description of the in silico tool or tools that have been developed to allow the implementation of QbD principles and optimal design.

  5. Means-Tested Public Assistance Programs and Adolescent Political Socialization.

    Science.gov (United States)

    Barnes, Carolyn Y; Hope, Elan C

    2017-07-01

    In recent years, scholars have pointed to the politically demobilizing effects of means-tested assistance programs on recipients. In this study, we bridge the insights from policy feedback literature and adolescent political socialization research to examine how receiving means-tested programs shapes parent influence on adolescent political participation. We argue that there are differences in pathways to political participation through parent political socialization and youth internal efficacy beliefs for adolescents from households that do or do not receive means-tested assistance. Using data from a nationally representative sample of 536 Black, Latino, and White adolescents (50.8% female), we find that adolescents from means-tested assistance households report less parent political socialization and political participation. For all youth, parent political socialization predicts adolescent political participation. Internal political efficacy is a stronger predictor of political participation for youth from a non-means-tested assistance household than it is for youth from a household receiving means-tested assistance. These findings provide some evidence of differential paths to youth political participation via exposure to means-tested programs.

  6. CHILD ALLOWANCE

    CERN Multimedia

    Human Resources Division

    2001-01-01

    HR Division wishes to clarify to members of the personnel that the allowance for a dependent child continues to be paid during all training courses ('stages'), apprenticeships, 'contrats de qualification', sandwich courses or other courses of similar nature. Any payment received for these training courses, including apprenticeships, is however deducted from the amount reimbursable as school fees. HR Division would also like to draw the attention of members of the personnel to the fact that any contract of employment will lead to the suppression of the child allowance and of the right to reimbursement of school fees.

  7. Does financial literacy improve financial inclusion? Cross country evidence

    OpenAIRE

    Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas

    2017-01-01

    While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional variation. Regarding "access to finance", financial infrastructure and financial literacy are mainly substitutes. However, regarding the "use of financial services", the effect of higher financial literac...

  8. Financial Integrity Benchmarks

    Data.gov (United States)

    City of Jackson, Mississippi — This data compiles standard financial integrity benchmarks that allow the City to measure its financial standing. It measure the City's debt ratio and bond ratings....

  9. Sample Size Determination for One- and Two-Sample Trimmed Mean Tests

    Science.gov (United States)

    Luh, Wei-Ming; Olejnik, Stephen; Guo, Jiin-Huarng

    2008-01-01

    Formulas to determine the necessary sample sizes for parametric tests of group comparisons are available from several sources and appropriate when population distributions are normal. However, in the context of nonnormal population distributions, researchers recommend Yuen's trimmed mean test, but formulas to determine sample sizes have not been…

  10. Growth in Means-Tested Programs and Tax Credits for Low-Income Households

    Science.gov (United States)

    Carrington, William; Dahl, Molly; Falk, Justin

    2013-01-01

    The federal government devotes roughly one-sixth of its spending to 10 major means-tested programs and tax credits, which provide cash payments or assistance in obtaining health care, food, housing, or education to people with relatively low income or few assets. Those programs and credits consist of the following: (1) Medicaid; (2) the low-income…

  11. Financialization and financial profit

    Directory of Open Access Journals (Sweden)

    Arturo Guillén

    2014-09-01

    Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.

  12. Double Crowding-Out Effects of Means-Tested Public Provision for Long-Term Care

    Directory of Open Access Journals (Sweden)

    Christophe Courbage

    2015-02-01

    Full Text Available Publicly provided long-term care (LTC insurance with means-tested benefits is suspected to crowd out either private saving or informal care. This contribution predicts crowding-out effects for both private saving and informal care for policy measures designed to relieve the public purse from LTC expenditure such as more stringent means testing and increased taxation of inheritance. These effects result from the interaction of a parent who decides on the amount of saving in retirement and a caregiver who decides on the effort devoted to informal care which lowers the probability of admission to a nursing home. Double crowding-out effects are also found to be the consequence of exogenous influences, notably a higher opportunity cost of caregiving.

  13. 7 CFR 3016.22 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... uniform cost accounting standards that comply with cost principles acceptable to the Federal agency. ... Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF... GOVERNMENTS Post-Award Requirements Financial Administration § 3016.22 Allowable costs. (a) Limitation on use...

  14. 33 CFR 136.223 - Compensation allowable.

    Science.gov (United States)

    2010-07-01

    ...) MARINE POLLUTION FINANCIAL RESPONSIBILITY AND COMPENSATION OIL SPILL LIABILITY TRUST FUND; CLAIMS... allowable under paragraph (a) of this section must be reduced by— (1) All compensation made available to the... under § 136.235. Government Revenues ...

  15. Financial history and financial economics

    OpenAIRE

    Turner, John D.

    2014-01-01

    This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...

  16. INSTABILITY MODELING OF FINANCIAL PYRAMIDS

    OpenAIRE

    Girdzijauskas, Stasys; Moskaliova, Vera

    2005-01-01

    The financial structures that make use of money flow for “easy money” or cheating purpose are called financial pyramids. Recently financial pyramids intensively penetrates IT area. It is rather suitable way of the fraud. Money flow modeling and activity analysis of such financial systems allows identifying financial pyramids and taking necessary means of precautions. In the other hand even investing companies that function normally when market conditions changes (e.g. interest rates) eventual...

  17. 29 CFR 97.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... accounting standards that comply with cost principles acceptable to the Federal agency. [53 FR 8069, 8087... LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 97.22 Allowable costs. (a... increment above allowable costs) to the grantee or subgrantee. (b) Applicable cost principles. For each kind...

  18. 22 CFR 135.22 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... Procedures, or uniform cost accounting standards that comply with cost principles acceptable to the Federal... AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 135.22 Allowable... principles. For each kind of organization, there is a set of Federal principles for determining allowable...

  19. 34 CFR 74.27 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... Procedures or uniform cost accounting standards that comply with cost principles acceptable to ED. (b) The... OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial... principles for determining allowable costs. Allowability of costs are determined in accordance with the cost...

  20. 44 CFR 13.22 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... uniform cost accounting standards that comply with cost principles acceptable to the Federal agency. ... STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 13.22 Allowable costs. (a... increment above allowable costs) to the grantee or subgrantee. (b) Applicable cost principles. For each kind...

  1. 24 CFR 85.22 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... uniform cost accounting standards that comply with cost principles acceptable to the Federal agency. ... TRIBAL GOVERNMENTS Post-Award Requirements Financial Administration § 85.22 Allowable costs. (a... increment above allowable costs) to the grantee or subgrantee. (b) Applicable cost principles. For each kind...

  2. 36 CFR 1207.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... uniform cost accounting standards that comply with cost principles acceptable to the Federal agency. ... GOVERNMENTS Post-Award Requirements Financial Administration § 1207.22 Allowable costs. (a) Limitation on use... increment above allowable costs) to the grantee or subgrantee. (b) Applicable cost principles. For each kind...

  3. 32 CFR 33.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... accounting standards that comply with cost principles acceptable to the Federal agency. ... Post-Award Requirements Financial Administration § 33.22 Allowable costs. (a) Limitation on use of... allowable costs) to the grantee or subgrantee. (b) Applicable cost principles. For each kind of organization...

  4. 15 CFR 14.27 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, OTHER NON-PROFIT, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 14.27 Allowable costs. For each kind of... Organizations.” The allowability of costs incurred by institutions of higher education is determined in...

  5. 45 CFR 2543.27 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 2543.27 Allowable costs. For each kind... Organizations.” The allowability of costs incurred by institutions of higher education is determined in...

  6. 28 CFR 70.27 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... AND AGREEMENTS (INCLUDING SUBAWARDS) WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 70.27 Allowable costs. (a... Organizations.” The allowability of costs incurred by institutions of higher education is determined in...

  7. 38 CFR 49.27 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 49.27 Allowable...-Profit Organizations.” The allowability of costs incurred by institutions of higher education is...

  8. 20 CFR 435.27 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, OTHER NON-PROFIT ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 435.27 Allowable costs. For each kind... Organizations.” (c) Allowability of costs incurred by institutions of higher education is determined in...

  9. 40 CFR 30.27 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 30.27 Allowable...-Profit Organizations.” The allowability of costs incurred by institutions of higher education is...

  10. Financial integration and liquidity crises

    NARCIS (Netherlands)

    Castiglionesi, Fabio; Feriozzi, F.; Lorenzoni, G.

    2017-01-01

    This paper analyzes the effects of financial integration on the stability of the banking system. Financial integration allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a common interbank market. We show under which conditions financial integration

  11. Financial Statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    Financial Statements and accompanying notes provided on .... to good governance principles. there is the risk that ...... responsibilities of the centre's internal auditor includes reviewing internal controls, including accounting and financial.

  12. Financial Derivatives

    OpenAIRE

    Janečková, Alena

    2011-01-01

    1 Abstract/ Financial derivatives The purpose of this thesis is to provide an introduction to financial derivatives which has been, from the legal perspective, described in a not satisfactory manner as quite little literature that can be found about this topic. The main objectives of this thesis are to define the term "financial derivatives" and its particular types and to analyse legal nature of these financial instruments. The last objective is to try to draft future law regulation of finan...

  13. 22 CFR 226.27 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... Relations AGENCY FOR INTERNATIONAL DEVELOPMENT ADMINISTRATION OF ASSISTANCE AWARDS TO U.S. NON-GOVERNMENTAL ORGANIZATIONS Post-award Requirements Financial and Program Management § 226.27 Allowable costs. For each kind... organizations is determined in accordance with the provisions of OMB Circular A-122, “Cost Principles for Non...

  14. 13 CFR 143.22 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... to that circular 48 CFR part 31. Contract Cost Principles and Procedures, or uniform cost accounting... Financial Administration § 143.22 Allowable costs. (a) Limitation on use of funds. Grant funds may be used... grantee or subgrantee. (b) Applicable cost principles. For each kind of organization, there is a set of...

  15. 38 CFR 43.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... accounting standards that comply with cost principles acceptable to the Federal agency. ... Requirements Financial Administration § 43.22 Allowable costs. (a) Limitation on use of funds. Grant funds may... the grantee or subgrantee. (b) Applicable cost principles. For each kind of organization, there is a...

  16. 29 CFR 1470.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... to that circular 48 CFR part 31. Contract Cost Principles and Procedures, or uniform cost accounting... Financial Administration § 1470.22 Allowable costs. (a) Limitation on use of funds. Grant funds may be used... grantee or subgrantee. (b) Applicable cost principles. For each kind of organization, there is a set of...

  17. 40 CFR 31.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... accounting standards that comply with cost principles acceptable to the Federal agency. ... Requirements Financial Administration § 31.22 Allowable costs. (a) Limitation on use of funds. Grant funds may... the grantee or sub-grantee. (b) Applicable cost principles. For each kind of organization, there is a...

  18. 34 CFR 80.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... CFR part 31. Contract Cost Principles and Procedures, or uniform cost accounting standards that comply... COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 80.22... kind of organization, there is a set of Federal principles for determining allowable costs. For the...

  19. 45 CFR 92.22 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... to that circular 48 CFR Part 31. Contract Cost Principles and Procedures, or uniform cost accounting... Financial Administration § 92.22 Allowable costs. (a) Limitation on use of funds. Grant funds may be used... grantee or subgrantee. (b) Applicable cost principles. For each kind of organization, there is a set of...

  20. 45 CFR 74.27 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... FOR AWARDS AND SUBAWARDS TO INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, OTHER NONPROFIT ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 74.27... Organizations” and paragraph (b) of this section. The allowability of costs incurred by institutions of higher...

  1. 22 CFR 145.27 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... Relations DEPARTMENT OF STATE CIVIL RIGHTS GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 145...-Profit Organizations.” The allowability of costs incurred by institutions of higher education is...

  2. 22 CFR 518.27 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 518.27 Allowable costs. For each kind of recipient, there is a set of... by institutions of higher education is determined in accordance with the provisions of OMB Circular A...

  3. 33 CFR 136.217 - Compensation allowable.

    Science.gov (United States)

    2010-07-01

    ...) MARINE POLLUTION FINANCIAL RESPONSIBILITY AND COMPENSATION OIL SPILL LIABILITY TRUST FUND; CLAIMS PROCEDURES; DESIGNATION OF SOURCE; AND ADVERTISEMENT Procedures for Particular Claims § 136.217 Compensation... 33 Navigation and Navigable Waters 2 2010-07-01 2010-07-01 false Compensation allowable. 136.217...

  4. 33 CFR 136.205 - Compensation allowable.

    Science.gov (United States)

    2010-07-01

    ...) MARINE POLLUTION FINANCIAL RESPONSIBILITY AND COMPENSATION OIL SPILL LIABILITY TRUST FUND; CLAIMS PROCEDURES; DESIGNATION OF SOURCE; AND ADVERTISEMENT Procedures for Particular Claims § 136.205 Compensation... 33 Navigation and Navigable Waters 2 2010-07-01 2010-07-01 false Compensation allowable. 136.205...

  5. Le directeur financier

    OpenAIRE

    Mattiacci , Noëllie

    2015-01-01

    Following multiple economic crises, the Chief Financial Officer has become a major player within the company. Its missions have unquestionably evolved. Initially, he performed accounting missions ensuring effective financial management. Today, it occupies the strategic functions necessary to the development of the company. This diversity of skills allows him to have a global and cross-enterprise vision. Despite its leading role, no study was conducted concerning the determination of the legal...

  6. Financial Literacy and Financial Behaviour

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert

    2016-01-01

    We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the

  7. Radiology applications of financial accounting.

    Science.gov (United States)

    Leibenhaut, Mark H

    2005-03-01

    A basic knowledge of financial accounting can help radiologists analyze business opportunities and examine the potential impacts of new technology or predict the adverse consequences of new competitors entering their service area. The income statement, balance sheet, and cash flow statement are the three basic financial statements that document the current financial position of the radiology practice and allow managers to monitor the ongoing financial operations of the enterprise. Pro forma, or hypothetical, financial statements can be generated to predict the financial impact of specific business decisions or investments on the profitability of the practice. Sensitivity analysis, or what-if scenarios, can be performed to determine the potential impact of changing key revenue, investment, operating cost or financial assumptions. By viewing radiology as both a profession and a business, radiologists can optimize their use of scarce economic resources and maximize the return on their financial investments.

  8. Estimating the Impact of Means-tested Subsidies under Treatment Externalities with Application to Anti-Malarial Bednets

    DEFF Research Database (Denmark)

    Bhattacharya, Debopam; Dupas, Pascaline; Kanaya, Shin

    and its neighbors. Using experimental data from Kenya where subsidies were randomized, coupled with GPS-based location information, we show how to estimate aggregate ITN use resulting from means-tested subsidies in the presence of such spatial spillovers. Accounting for spillovers introduces infinite......-dimensional estimated regressors corresponding to continuously distributed location coordinates and makes the inference problem novel. We show that even if individual ITN use unambiguously increases with increasing incidence of subsidy in the neighborhood, ignoring spillovers may over- or under-predict overall ITN use...... resulting from a specific targeting rule, depending on the resulting aggregate incidence of subsidy. Applying our method to the Kenyan data, we find that (i) individual ITN use rises with neighborhood subsidy-rates, (ii) under means-testing, predicted ITN use is a convex increasing function of the subsidy...

  9. Trading sulfur dioxide allowances

    International Nuclear Information System (INIS)

    Goldburg, C.B.; Lave, L.B.

    1992-01-01

    The 1990 Clean Air Act is aimed at generators larger than 25 MW, as these are the largest polluters. Market incentives give each source an emissions allocation but also flexibility. If a plant has lower emissions than the target, it can sell the 'surplus' emissions as allowances to plants that fail to meet the target. Only a few trades have occurred to date. Market-based incentives should lower the costs of improving environmental quality significantly. However, currently institutional dificulties hamper implementation

  10. 28 CFR 33.50 - General financial requirements.

    Science.gov (United States)

    2010-07-01

    ... information on cost allowability, methods of payment, audit, accounting systems and financial records. ... additional information and guidance are contained in “Financial and Administrative Guide for Grants...

  11. Financial mathematics

    CERN Document Server

    Jothi, A Lenin

    2009-01-01

    Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m

  12. Financial System of Malaysia: the Concept of Financial Dispute

    Directory of Open Access Journals (Sweden)

    Evgenia E. Frolova

    2017-01-01

    Full Text Available Purpose: the article examines the main problems associated the new regulatory acts of Malaysia – the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013; The characteristics of the legal status of the "Ombudsman for financial services" are listed, types of financial disputes subject to settlement under the "financial ombudsman scheme" are listed, parties to the financial dispute are identified. To achieve this goal, the article must solve the following tasks: to determine whether there are institutions in Malaysia that provide services for resolving financial disputes; to investigate the main problems associated with the definition of the concept and types of financial dispute, the conditions for the transfer of a financial dispute to the competent authority. Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Malaysia. Results: according to the provisions of the new laws of Malaysia, namely the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013, a financial dispute should be understood as a dispute, to which the parties are a financial consumer and a financial service provider provider. Financial disputes include disputes in the field of insurance and Islamic insurance, as well as disputes over bank cards, bank accounts, ATMs, Internet banking, mobile banking, and others. The main body for the settlement of financial disputes is the Financial Ombudsman. The competence of the financial ombudsman is limited by the amount of the claim of 250,000 ringgit (about 4.5 million rubles, under insurance claims – 10,000 ringgit, in the field of unauthorized transactions – 25,000 ringgit. The procedure for resolving a financial dispute, which in Malaysia is referred to as the "scheme of a financial ombudsman", is established by the Central Bank of Malaysia

  13. Financial Liberalization and Financial Fragility

    OpenAIRE

    Enrica Detragiache; Asli Demirgüç-Kunt

    1998-01-01

    The authors study the empirical relationship between banking crises and financial liberalization using a panel of data for 53 countries for 1980-95. They find that banking crises are more likely to occur in liberalized financial systems. But financial liberalization's impact on a fragile banking sector is weaker where the institutional environment is strong--especially where there is respect for the rule of law, a low level of corruption, and good contract enforcement. They examine evidence o...

  14. Financial Statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    users make on the basis of the financial information. .... IDRC's brand and reputation could impact partner- .... building and to provide internal services in support of the ...... maintains books of accounts, information systems, and financial and management controls that .... The significant accounting policies of the Centre are: a.

  15. Financial Literacy, Financial Education, and Economic Outcomes

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2013-01-01

    In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

  16. 40 CFR 280.94 - Allowable mechanisms and combinations of mechanisms.

    Science.gov (United States)

    2010-07-01

    ... requirements of the financial test under this rule, the financial statements of the owner or operator are not consolidated with the financial statements of the guarantor. [53 FR 43370, Oct. 26, 1988, as amended at 58 FR... OPERATORS OF UNDERGROUND STORAGE TANKS (UST) Financial Responsibility § 280.94 Allowable mechanisms and...

  17. DOE financial assurance presentation

    International Nuclear Information System (INIS)

    Huck, R.

    1990-01-01

    The presentation topic is California's approach to license application review in meeting financial assurances for the proposed Ward Valley site. The purpose of the presentation is to provide information on specific financial assurance provisions contained in 10 CFR Part 61 and how California intends to satisfy those requirements. Also, as rate setter, California intends to demonstrate how it will assure allowable costs to the rate base though a financial prudency review. The key provisions of financial assurance are: 10 CFR Section 61.61 - This provision requires an applicant to demonstrate its ability to finance licensed activities; 10 CFR Section 61.62 - This provision requires an applicant to provide assurance that sufficient funds will be available for site closure and stabilization; and 10 CFR Section 61.63 - This provision requires an applicant to provide 'a copy of a binding arrangement, such as a lease, between the applicant and the disposal site owner, so that sufficient funds will be available to cover the costs of the institutional control period.' To assist California in its determination of financial assurance compliance to be demonstrated by the applicant for Part 61 requirements, is NUREG guidance document 1199 'Standard Format and Content of a License Application for a Low-Level Radioactive Waste (LLRW) Disposal Facility.' The detailed financial assurance provisions of NUREG 1199 are then embodied in NUREG 1200, 'Standard Review Plant for the Review of a License Application for a LLRW Disposal Facility.'

  18. 40 CFR 35.2025 - Allowance and advance of allowance.

    Science.gov (United States)

    2010-07-01

    ... advance of allowance. (a) Allowance. Step 2+3 and Step 3 grant agreements will include an allowance for facilities planning and design of the project and Step 7 agreements will include an allowance for facility... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Allowance and advance of allowance. 35...

  19. Financial assurances

    International Nuclear Information System (INIS)

    Paton, R.F.

    1990-01-01

    US Ecology is a full service waste management company. The company operates two of the nation's three existing low-level radioactive waste (LLRW) disposal facilities and has prepared and submitted license applications for two new LLRW disposal facilities in California and Nebraska. The issue of financial assurances is an important aspect of site development and operation. Proper financial assurances help to insure that uninterrupted operation, closure and monitoring of a facility will be maintained throughout the project's life. Unfortunately, this aspect of licensing is not like others where you can gauge acceptance by examining approved computer codes, site performance standards or applying specific technical formulas. There is not a standard financial assurance plan. Each site should develop its requirements based upon the conditions of the site, type of design, existing state or federal controls, and realistic assessments of future financial needs. Financial assurances at U.S. Ecology's existing sites in Richland, Washington, and Beatty, Nevada, have been in place for several years and are accomplished in a variety of ways by the use of corporate guarantees, corporate capital funds, third party liability insurance, and post closure/long-term care funds. In addressing financial assurances, one can divide the issue into three areas: Site development/operations, third party damages, and long-term care/cleanup

  20. 22 CFR 17.5 - Financial hardship.

    Science.gov (United States)

    2010-04-01

    ...) Considerations. Some pertinent considerations in determining whether recovery would cause financial hardship are... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Financial hardship. 17.5 Section 17.5 Foreign... SYSTEM (FSPS) § 17.5 Financial hardship. (a) Waiver of overpayment will not be allowed in any case prior...

  1. PROFITABILITY AND FINANCIAL STABILITY

    Directory of Open Access Journals (Sweden)

    CĂRUNTU CONSTANTIN

    2011-09-01

    Full Text Available The business activity allows identifying two categories of flows: flows of results and cash flows. Flows affect the income and expenses, participating in training result, the company's profitability. Financial flows involved in their formation both monetary items (which drive the monetary input or output and thus implies a cash flow, and non-cash items (affecting the result, without leading to a cash flow. Are equally identifiable cash flows that do not involve an immediate effect on the outcome or effect on the result equivalent to that spread on the treasury. Financial equilibrium in a general manner evokes the idea of harmony between different elements of a system, which in finance is harmonization of resources with the needs. Financial equilibrium can be defined by the company's ability to secure payment of its proceeds without interruption to current liabilities incurred in implementing its object of activity or tax laws, so it can avoid the risk of bankruptcy. Maintaining financial stability is the essential condition of survival of the enterprise, financial and balanced assessment must take into account the concrete conditions of the occurrence of default.

  2. FINANCIAL STABILITY AS A FACTOR ECONOMIC SECURITY

    Directory of Open Access Journals (Sweden)

    A. V. Endovitskaya

    2015-01-01

    Full Text Available Summary. The article examines the linkages between financial stability and the level of its economic security. Considered the content of financial stability, represented by its own definition, we studied the basic conditions to achieve it. The logic diagram showing the location of financial stability and financial security to ensure the economic security of the business entity. A system of internal and external factors affecting the financial stability and endanger financial stability and financial security company. It has been established that it is the internal factors such as the availability of financial resources and financial position, capital structure, the company's ability to generate profits determine the level of economic security and its ability to withstand the negative impact of external and internal threats. The necessity of improving the financial sustainability in order to improve the economic security of the enterprise. On the basis of the research proposed matrix of risks affecting the financial stability and economic security, which allows to determine the probability of their occurrence and impact. It presents the economic, social, human, financial, organizational, economic, innovative and productive tools to increase the stability and financial security of an economic entity. List considered standard measures will make a plan of action to minimize the adverse impacts and enhance financial stability and security. Therefore, a prerequisite for the economic security of the enterprise is the attainment of financial stability.

  3. Balancing Responsibilities – Financial Literacy

    Directory of Open Access Journals (Sweden)

    Gail Pearson

    2017-03-01

    Full Text Available In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.

  4. 41 CFR 105-71.122 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... uniform cost accounting standards that comply with cost principles acceptable to the Federal agency. ... GOVERNMENTS 71.12-Post-Award Requirements/Financial Administration § 105-71.122 Allowable costs. (a... increment above allowable costs) to the grantee or subgrantee. (b) Applicable cost principles. For each kind...

  5. PROFITABILITY AND FINANCIAL STABILITY

    OpenAIRE

    CĂRUNTU CONSTANTIN; LĂPĂDUŞI MIHAELA LOREDANA

    2011-01-01

    The business activity allows identifying two categories of flows: flows of results and cash flows. Flows affect the income and expenses, participating in training result, the company's profitability. Financial flows involved in their formation both monetary items (which drive the monetary input or output and thus implies a cash flow), and non-cash items (affecting the result, without leading to a cash flow). Are equally identifiable cash flows that do not involve an ...

  6. Financial sector taxation: Financial activities tax or financial transaction tax?

    Directory of Open Access Journals (Sweden)

    Danuše Nerudová

    2011-01-01

    Full Text Available The recent financial crises has revealed the need to improve and ensure the stability of the financial sector to reduce negative externalities, to ensure fair and substantial contribution of the financial sector to the public finances and the need to consolidate public finance. All those needs represent substantial arguments for the discussion about the introduction of financial sector taxation. There are discussed in the paper two possible schemes of financial sector taxation – financial transaction tax and financial activities tax. The aim of the paper is to research the possibility of the introduction of financial sector taxation, to discuss the pros and cons of two major candidates on financial sector taxation – financial transaction tax and financial activities tax and to suggest the possible candidate suitable for the implementation on the EU level. Financial transaction tax represents the tool suitable mainly on global level, for only in that case enables generate sufficient financial resources. From EU point of view is considered as less suitable, for it bears the risk of reallocation. Therefore the introduction of financial activities tax on EU level is considered as a better solution for the financial sector taxation in the EU, for financial sector is exempted from value added tax. With respect to the fact, that the implementation would represent the innovative approach to the financial sector taxation, there are no empirical proves and therefore this could be the subject of further research.

  7. Financial crimes and financial misdemeanours

    OpenAIRE

    Bamford, Colin

    2007-01-01

    The author argues that undesirable behaviour in the financial markets has not been countered by appropriate controls. Article by Colin Bamford (Barrister, 3-4 South Square) published in Amicus Curiae - Journal of the Society for Advanced Legal Studies. The Journal is produced by the Society for Advanced Legal Studies at the Institute of Advanced Legal Studies, University of London.

  8. Framework for Financial Ratio Analysis of Audited Federal Financial Reports

    Science.gov (United States)

    1999-12-01

    this period were conducted on the statistical validity of the ratio method in financial analysis. McDonald and Morris conducted a study on the... franchising operations, allowing them to lower costs and share administrative support services with other agencies. [Ref. 60:sec. 402-403] The GMRA also...Press, Washington, D.C., 1955). 21. McDonald , Bill and Morris, Michael H., "The Statistical Validity of the Ratio Method in Financial Analysis: An

  9. FINANCIAL SYSTEM OF JAPAN: THE LEGAL REGULATION OF DISPUTES BETWEEN FINANCIAL SERVICES PROVIDERS AND CONSUMERS

    Directory of Open Access Journals (Sweden)

    E. E. Frolova

    2018-01-01

    Full Text Available Purpose: the article examines the main problems associated the regulatory acts of Japan – The Financial Instruments and Exchange Act, The Banking Act, The  Insurance Business Act, lists the types of financial disputes subject to alternative settlement, identified the parties to the financial dispute. To achieve this goal, the article must solve the following tasks: to determine whether there are institutions in Japan that provide services for resolving financial disputes; to investigate the main problems associated with the definition of the concept and types of financial dispute, the conditions for the transfer of a financial dispute to the competent authority.Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Malaysia.Results: acts of Japan – The Financial Instruments and Exchange Act, The Banking Act, The Insurance Business Act, – refer to financial disputes – disputes resolved by "Designated Dispute Resolution Organizations", the so-called "financial DDRO". Financial disputes are disputes between suppliers and consumers of financial services. The Financial Instruments and Exchange Act details the persons, whose activities fall within the definition of financial provider services. A brief list of financial service providers is available on the website of Japan's main financial regulator, the Financial Services Agency. The list include: Japanese banking institutions, branches and representative offices of foreign banks, business operators of financial instruments, insurance companies, trust companies, financial markets, foreign audit firms. However, unlike other countries of the Asia-Pacific region, consumers of financial services can be both physical and legal entities.Conclusions and Relevance: the materials presented in the article show the special role of "Designated Dispute Resolution

  10. 32 CFR 34.11 - Standards for financial management systems.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 1 2010-07-01 2010-07-01 false Standards for financial management systems. 34... ORGANIZATIONS Post-award Requirements Financial and Program Management § 34.11 Standards for financial management systems. (a) Recipients shall be allowed and encouraged to use existing financial management...

  11. Financial Statements Analysis

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.

  12. Understanding Financial Statements. Financial Matters. Board Basics.

    Science.gov (United States)

    McCarthy, John H.; Turner, Robert M.

    1998-01-01

    This booklet for trustees of higher education institutions offers guidelines to help trustees understand the institution's financial statements. Individual sections describe the three major financial statements and cover topics such as: (1) standards of the Financial Accounting Standards Board; (2) the "statement of financial position,"…

  13. Financial And Non-financial Factors Motivating Individual Donors To Support Public Benefit Organizations

    OpenAIRE

    WANIAK-MICHALAK HALINA; ZARZYCKA EWELINA

    2015-01-01

    This study is aimed at determining how the financial data of public benefit organizations (PBOs) affects donations received by them and if the donors use financial and non-financial information in order to donate. In order to achieve our aim we used different methods of research: quantitative research (econometric model and survey) and qualitative research (laboratory test). The research allowed us to draw the conclusion that Polish donors make very limited use of PBOs’ financial statements i...

  14. FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Sigit Setiawan

    2015-05-01

    Full Text Available This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relatively better than its financial depth, especially for financial markets, in which Indonesia ranks in the lower average group. From literature reviews, it can be inferred that the main factor driving the poor financial depth in Indonesia is non-competitiveness of the institutions; whereas the driving force of poor financial access in Indonesia are geographical constraints, poverty, a high income gap, and a less than effective national financial development policy.

  15. FINANCIAL INSTABILITY, FINANCIAL DEVELOPMENT AND POVERTY

    Directory of Open Access Journals (Sweden)

    Ionescu Cristian

    2012-12-01

    Full Text Available There is a positive relationship between financial development and economic growth in short-run and long-run. Financial development is beneficial to the reduction of poverty. But the financial instability which accompanies financial development is is costly for the poor and reduces the positive effect of financial development on the reduction of poverty. The paper aims to analyze in detail the relationship and the (direct and indirect effects between these variables, taking into account their economic and social importance. It is also highlighted the correlation between the financial economy and the real economy, emphasizing the impact on social welfare involved by the interaction of the above mentioned variables.

  16. Costs and Benefits of the Financial Sector

    OpenAIRE

    Marc Teignier; Francisco Rivadeneyra; Tiago Pinheiro

    2011-01-01

    The financial sector allows a better allocation of capital compared to autarchy, increasing the aggregate technology and thus the income growth rate of the economy. At the same time, however, it also amplifies the business cycles through the financial accelerator which increases the volatility of income. In this paper we first present a general equilibrium model which captures both effects of the financial sector. We then parametrize the model to analyze the quantitative effects of policies a...

  17. The Determinants and Implications of Financial Asset Holdings of Non-Financial Firms in Turkey : An Emprical Investigation

    OpenAIRE

    Cafer Kaplan; Erdal Ozmen; Cihan Yalcin

    2006-01-01

    This paper investigates the determinants and financial crowding out consequences of nonfinancial firms’ holdings of financial assets (FA) including government bonds and securities (GS) in Turkey using the firm level data compiled by the Central Bank of the Republic of Turkey over the 1990-2004 period. The salient features of the Turkish financial system with financial dollarisation and short maturity of financial contracts allowed the corporate sector to remain relatively liquid in spite of h...

  18. Financial Village Standing in Indonesian Financial System

    Directory of Open Access Journals (Sweden)

    Herry Purnomo

    2015-12-01

    Full Text Available Financial resources of the village that are sourced from a country or a Regional Finance Financial based Law Number 6 Year 2014 of The Village is the mandate of the law that must be allocated to the village. The interconnectedness of the financial position of the village in the financial system of the country or Region concerned the Financial administrative and territorial relations, and there is no setting directly regarding the finances of the village as part of the financial system of the country or the financial area. In respect of the elements of the crime of corruption deeds against financial irregularities of the village there are still disagreements on the interpretation of the law in trapping the perpetrators of corruption on the village chief that implies not satisfy the principle of legality and legal certainty in the ruling of the matter of financial irregularities. In fact, many of the village chief or Councilor caught the criminal offence of corruption over the use of financial irregularities. This research analyzes How the financial position of the village in the financial system of the country or region, as well as whether the financial resources of the village is derived from the state budget or region budget managed in village budget belongs to the category of village finances and whether tort against the financial management of the village can be categorized as a criminal act corruption. How To Cite: Purnomo, H. (2015. Financial Village Standing in Indonesian Financial System. Rechtsidee, 2(2, 121-140. doi:http://dx.doi.org/10.21070/jihr.v2i2.81

  19. FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

    OpenAIRE

    Sigit Setiawan

    2015-01-01

    This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

  20. Predicting Covariance Matrices with Financial Conditions Indexes

    NARCIS (Netherlands)

    A. Opschoor (Anne); D.J.C. van Dijk (Dick); M. van der Wel (Michel)

    2013-01-01

    textabstractWe model the impact of financial conditions on asset market volatility and correlation. We propose extensions of (factor-)GARCH models for volatility and DCC models for correlation that allow for including indexes that measure financial conditions. In our empirical application we

  1. What is Good University Financial Management?

    Science.gov (United States)

    Taylor, Mark P.

    2013-01-01

    In the current and foreseeable harsh UK higher education environment, aspiring to best-practice financial management will be key to ensuring the prosperity--and indeed the survival--of any university. In this article I argue that good university financial management should provide stability to the institution, allow for investment as well as…

  2. MANAGEMENT OF FINANCIAL STABILITY OF ENTERPRISES

    Directory of Open Access Journals (Sweden)

    Vladimir P. Bogko

    2013-01-01

    Full Text Available The priorities for improving the management of the enterprises financial stability in the current context are considered in the article. The scientifically based proposals for developing methodological foundations and tools of such management are developed. The implementation of these proposals allows to reduce financial risks of an enterprise in the terms of unsustainable development of Russian economy.

  3. Strengthening financial management, providing financial safeguard mechanism

    International Nuclear Information System (INIS)

    Sun Wumei

    2010-01-01

    This article reviewed the history of Zhong He Shanxi Uranium Enrichment Company, summarizing an efficient and systematical financial management method during both construction period and operational period of the company. It related to fundamental financial management structure building, integrated budgeting, fund management, cost management, asset management, tax planning and HR management. of financial staffs. (author)

  4. Financial Stress Indices and Financial Crises

    NARCIS (Netherlands)

    Vermeulen, Robert; Hoeberichts, Marco; Vasicek, Borek; Zigraiova, Diana; Smidkova, Katerina; de Haan, Jakob

    This paper develops a Financial Stress Index (FSI) for 28 OECD countries and examines its relationship to crises using a novel database for financial crises. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. Our results suggest that

  5. Financial Globalization and Inequality

    OpenAIRE

    Kunieda, Takuma

    2008-01-01

    This paper investigates how financial globalization and financial development affect income inequality within a country. We demonstrate that when a country is financially closed to the world market, the Gini coefficient is monotonically decreasing with respect to the degree of financial development, whereas when a country becomes so small due to financial globalization that financial development in the country does not affect the world interest rate, the Gini coefficient is monotonically incr...

  6. Large Retailers’ Financial Services

    OpenAIRE

    Risso, Mario

    2010-01-01

    Over the last few years, large retailers offering financial services have considerably grown in the financial services sector. Retailers are increasing the wideness and complexity of their offer of financial services. Large retail companies provide financial services to their customers following different strategic ways. The provision of financial services in the retailers offer is implemented in several different ways related to the strategies, the structures and the degree of financial know...

  7. 40 CFR 258.74 - Allowable mechanisms.

    Science.gov (United States)

    2010-07-01

    ...; or (B) The owner or operator must satisfy each of the following financial ratios based on the owner or operator's most recent audited annual financial statement: (1) A ratio of cash plus marketable... to the financial ratios required by paragraph (f)(1)(i)(B) of this section, if applicable, and the...

  8. 76 FR 70883 - Clothing Allowance

    Science.gov (United States)

    2011-11-16

    ... prescription skin cream for the ``face, neck, hands, arms, or any area not covered by clothing may come into... the clothing or outergarment due to a second appliance or medication.'' This language will clarify that a second clothing allowance may be paid when a second appliance and/or medication increases the...

  9. Financial Literacy and Financial Planning in France

    Directory of Open Access Journals (Sweden)

    Luc Arrondel

    2013-07-01

    Full Text Available We study financial literacy in France using the PATER survey and following the Lusardi and Mitchell (2011c approach. We find that some subpopulations are less financially literate than others: women, young and old people as well as less-educated people are more likely to face difficulties when dealing with fundamental financial concepts such as risk diversification and inflation and interest compounding. We also find some differences in financial knowledge depending on the political opinion of the respondents. Finally we show that these differences in financial knowledge are correlated with differences in the propensity to plan: people who score higher on the financial literacy questions are more likely to be engaged in the preparation of a clearly defined financial plan.

  10. Integrated Financial Management Program

    Science.gov (United States)

    Pho, Susan

    2004-01-01

    Having worked in the Employees and Commercial Payments Branch of the Financial Management Division for the past 3 summers, I have seen the many changes that have occurred within the NASA organization. As I return each summer, I find that new programs and systems have been adapted to better serve the needs of the Center and of the Agency. The NASA Agency has transformed itself the past couple years with the implementation of the Integrated Financial Management Program (IFMP). IFMP is designed to allow the Agency to improve its management of its Financial, Physical, and Human Resources through the use of multiple enterprise module applications. With my mentor, Joseph Kan, being the branch chief of the Employees and Commercial Payments Branch, I have been exposed to several modules, such as Travel Manager, WebTads, and Core Financial/SAP, which were implemented in the last couple of years under the IFMP. The implementation of these agency-wide systems has sometimes proven to be troublesome. Prior to IFMP, each NASA Center utilizes their own systems for Payroll, Travel, Accounts Payable, etc. But with the implementation of the Integrated Financial Management Program, all the "legacy" systems had to be eliminated. As a result, a great deal of enhancement and preparation work is necessary to ease the transformation from the old systems to the new. All this work occurs simultaneously; for example, e-Payroll will "go live" in several months, but a system like Travel Manager will need to have information upgraded within the system to meet the requirements set by Headquarters. My assignments this summer have given me the opportunity to become involved with such work. So far, I have been given the opportunity to participate in projects resulting from a congressional request, several bankcard reconciliations, updating routing lists for Travel Manager, updating the majordomo list for Travel Manager approvers and point of contacts, and a NASA Headquarters project involving

  11. Surfaces allowing for fractional statistics

    International Nuclear Information System (INIS)

    Aneziris, Charilaos.

    1992-07-01

    In this paper we give a necessary condition in order for a geometrical surface to allow for Abelian fractional statistics. In particular, we show that such statistics is possible only for two-dimentional oriented surfaces of genus zero, namely the sphere S 2 , the plane R 2 and the cylindrical surface R 1 *S 1 , and in general the connected sum of n planes R 2 -R 2 -R 2 -...-R 2 . (Author)

  12. THE MEANS TESTING OF BENEFITS AND THE LABOUR SUPPLY OF THE WIVES OF UNEMPLOYED MEN: RESULTS FROM A MOVER-STAYER MODEL

    OpenAIRE

    Aedin Doris;

    1999-01-01

    Women married to unemployed men in Britain have lower participation rates than those married to employed men. Possible reasons include (1) husbands and wives fac-ing similar unfavourable local labour market conditions, (2) their both having characteristics which make it more likely that they will be unemployed, and (3) the means testing of benefit income, which creates a disincentive for the wife to work. These is-sues are investigated using a British survey of unemployed men and their famili...

  13. Financial planning

    OpenAIRE

    Χατζηγώγου, Αρτεμις Π.

    2003-01-01

    Σκοπός της μελέτης αυτής, είναι η συγκέντρωση όλων των στοιχείων εκείνων που συνθέτουν μια οργανωμένη διαδικασία έρευνας, που είναι γνωστή ως Financial Planning. Θα μπορούσαμε εναλλακτικά να πούμε, ότι βασικά ο χρηματοοικονομικός σχεδιασμός προγραμματίζει, εξευρίσκει και χρησιμοποιεί τα κεφάλαια με τέτοιο τρόπο ώστε η συνεισφορά τους να είναι μεγαλύτερη στην αποτελεσματική λειτουργία της οικονομικής μονάδας. Παρέχει τις γνώσεις των χρηματιστικών αγορών από όπου αντλούνται τα κεφάλαια. Οδηγεί ...

  14. Financial Risk Management

    OpenAIRE

    Catalin-Florinel Stanescu; Laurentiu Mircea Simion

    2011-01-01

    Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.

  15. Emission allowances stall in marketplace

    International Nuclear Information System (INIS)

    Malec, W.F.

    1993-01-01

    Misinformation and public misunderstanding have given emissions trading a bad reputation in the public marketplace, says William F. Malec, executive vice president of the Tennessee Valley Authority (TVA), in Knoxville, Tennessee. Media coverage of a May 1992 emissions-allowance trade between TVA and Wisconsin Power and Light open-quotes focused on the agreement's pollution-trading aspects, not its overall potential economic and environmental benefits,close quotes Malec says. Such negative portrayal of TVA's transaction sparked severe public criticism and charges that emissions trading gives utilities the right to pollute. open-quotes The fact is that TVA sought the emissions-trading agreement as a means to reduce overall emissions in the most cost-effective way,close quotes Malec explains. Emissions trading allows a company with emission levels lower than clean-air standards to earn open-quotes credits.close quotes These credits then may be purchased by a company with emission levels that exceed federal standards. Under this arrangement, the environment is protected and companies that buy credits save money because they do not have to purchase expensive emissions-control devices or reduce their production levels. Malec says TVA decided to enter into the emissions-allowance market, not only to cut costs, but also to publicize the existence and benefits of emissions trading. However, TVA's experience proves that open-quotes people will not accept what they do not understand,close quotes concludes Malec, open-quotes especially when complex environmental issues are involved.close quotes

  16. CONCEPTUALIZATION OF FINANCIAL RESOURCES OF LOCAL AUTHORITIES

    Directory of Open Access Journals (Sweden)

    Аnna Briazkalo

    2016-11-01

    , namely: revenues of local budgets, financial resources, municipal enterprises, local loans and charitable, sponsorship contributions, donations. Practical importance of the study lies in the fact that in terms of deficit of financial resources of local authorities and instability of their revenue sources, special importance is acquired by a thorough study of the financial resources essence, their classification, structure, possible sources and methods of resources attracting that will allow building of an effective system of local community’s financial security. Value/originality. Presented research has detailed and systematic character, which helps to clarify the concepts of financial resources and financial resources of local authorities. Main components of financial resources of local authorities, which will promote their further research, are distinguished.

  17. 40 CFR 35.6270 - Standards for financial management systems.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Standards for financial management... § 35.6270 Standards for financial management systems. (a) Accounting system standards—(1) General. The... of the adequacy of the financial management system as described in 40 CFR 31.20(c). (2) Allowable...

  18. 17 CFR 210.10-01 - Interim financial statements.

    Science.gov (United States)

    2010-04-01

    ... financial statements, such as a statement of significant accounting policies and practices, details of... degree as allowed in this paragraph) and disclosures required by Statement of Financial Accounting... Financial Accounting Standards Board that requires such change. (7) Any material retroactive prior period...

  19. FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

    OpenAIRE

    Sigit Setiawan

    2015-01-01

    This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

  20. Financial Ratios and Perceived Household Financial Satisfaction

    Directory of Open Access Journals (Sweden)

    Scott Garrett

    2013-08-01

    Full Text Available This paper tests the relative strength of three objective measures of financial health (using the solvency, liquidity, and investment asset ratio in predicting a household’s subjective feeling of current financial satisfaction. Using a sample of 6,923 respondents in the 2008 Health and Retirement Study this paper presents evidence of two main findings: 1 the solvency ratio is most strongly associated with financial satisfaction levels based on a cross-sectional design and 2 changes in the investment asset ratio are most strongly associated with changes in financial satisfaction over time.

  1. Financial Depth and Financial Access in Indonesia

    OpenAIRE

    Setiawan, Sigit

    2015-01-01

    This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

  2. Financial analysis as a financial management instrument

    Directory of Open Access Journals (Sweden)

    Stehlíková Beáta

    2001-12-01

    Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firm’s financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide “en bloc”.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting

  3. Brexit: What's at Stake for the Financial Sector?

    OpenAIRE

    Miethe, Jakob; Pothier, David

    2016-01-01

    The United Kingdom's exit from the European Union will have far- reaching implications for the British financial sector. London is currently the financial capital of Europe, and the UK's financial institutions benefit from passport rights that allow them to provide their services throughout the Single Market. The UK plays two key roles in the European financial system: the first as a major hub for wholesale banking activities conducted by large European banks, and the second as a major entry ...

  4. Practical C++ financial programming

    CERN Document Server

    Oliveira, Carlos

    2015-01-01

    Practical C++ Financial Programming is a hands-on book for programmers wanting to apply C++ to programming problems in the financial industry. The book explains those aspects of the language that are more frequently used in writing financial software, including the STL, templates, and various numerical libraries. The book also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled in

  5. Financial Literacy, Confidence and Financial Advice Seeking

    NARCIS (Netherlands)

    Kramer, Marc M.

    2016-01-01

    We find that people with higher confidence in their own financial literacy are less likely to seek financial advice, but no relation between objective measures of literacy and advice seeking. The negative association between confidence and advice seeking is more pronounced among wealthy households.

  6. Advertising, Attention, and Financial Markets

    OpenAIRE

    Focke, Florens; Ruenzi, Stefan; Ungeheuer, Michael

    2015-01-01

    We investigate the impact of product market advertising on investor attention and financial market outcomes. Using daily advertising data allows us to identify short-term effects of advertising. We measure daily investor attention based the company's number of Wikipedia page views. We show that TV and newspaper advertising positively impacts short-term investor attention. It also positively impacts turnover and liquidity, but the effects are not economically significant. Most importantly, ass...

  7. The Interim Financial Reporting in the Spirit of the IAS 34 Norm

    OpenAIRE

    Ovidia Doinea

    2008-01-01

    The role of an interim financial reporting is to allow the information users to acknowledge the activity of an entity on period shorter than financial exercise from the perspective of the available profits and cash flows generated as well as from the point of view of its financial position and liquidity. The interim financial reporting includes a complete or condensed set of financial statements which target to update the last financial reporting, usually the annual report. The interim financ...

  8. Materiality in Financial Audit

    OpenAIRE

    Adriana Claudia GHIMIS

    2012-01-01

    The financial audit aims toward increasing the credibility of financial informaiton. The purpose of the paper is to outline the most important topics regarding the definition and application of significance limit.

  9. CMS Financial Reports

    Data.gov (United States)

    U.S. Department of Health & Human Services — This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a major...

  10. Financial Key Ratios

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    This article focuses on computing techniques starting from trial balance data regarding financial key ratios. There are presented activity, liquidity, solvency and profitability financial key ratios. It is presented a computing methodology in three steps based on a trial balance.

  11. Quarterly Financial Report

    International Development Research Centre (IDRC) Digital Library (Canada)

    acray

    2011-06-30

    Jun 30, 2011 ... 2 IDRC QUARTERLY FINANCIAL REPORT JUNE 2011. Consolidated .... spending on capacity-building projects as well as to management's decision to restrict capacity- building ...... The investments in financial institutions.

  12. INNOVATIONS IN FINANCIAL ANALYTICS

    Directory of Open Access Journals (Sweden)

    T. V. Teplova

    2012-01-01

    Full Text Available In this paper as the main feature of innovation in the financial health of a company analyst view the shift to two circuits of key interests of owners of capital (financial stakeholders. Justifi ed by differences key financial systems within the contour ownership interest and the lender three projections: liquidity, the current economic efficiency and growth. In the paper as the main feature of the innovation in the analysis of the financial health of a company is considered a transition to the two circuits of the interests of the key owners of financial capital (financial stakeholders. Justifi ed differences of key financial indicator systems in the framework of the outline of the interests of the owner and the lender by three projections: liquidity, efficiency and the quality of growth. The examples of Russian companies have different interpretations of financial targets and indicators with a choice of activities.

  13. Financial Services Industry

    Science.gov (United States)

    2006-01-01

    www.investopedia.com/features/industryhandbook/banking.asp Mishkin , F. & Eakins, S. (2003). Financial Markets + Institutions (4th ed.). Boston...purposes, participants interact in financial markets for securities, bonds, futures and options, utilizing financial intermediaries such as retail and...nations. U.S. participants, likewise, may also choose to participate in foreign financial institutions in order to gain access to or operate in

  14. Financial Advice: Who Pays

    Science.gov (United States)

    Finke, Michael S.; Huston, Sandra J.; Winchester, Danielle D.

    2011-01-01

    Using a cost-benefit framework for financial planning services and proprietary data collected in the summer of 2008, the client characteristics that are associated with the likelihood of paying for professional financial advice, as well as the type of financial services purchased, are identified. Results indicate that respondents who pay for…

  15. Financial Sector Assessment : Morocco

    OpenAIRE

    World Bank; International Monetary Fund

    2017-01-01

    A joint International Monetary Fund (IMF)-World Bank mission visited Rabat and Casablanca in 2015, to assess the soundness and resilience of the banking system, the state of play in financial inclusion and infrastructure, the oversight frameworks for banking, capital markets and financial market infrastructures, crisis preparedness, and update the findings of the Financial Sector Assessme...

  16. Invest in Financial Literacy

    Science.gov (United States)

    Bush, Sarah B.; McGatha, Maggie B.; Bay-Williams, Jennifer M.

    2012-01-01

    The current state of the economy elevates the need to build awareness of financial markets and personal finance among the nation's young people through implementing a financial literacy curriculum in schools. A limited amount of time spent on financial literacy can have a positive effect on students' budgeting skills. This knowledge will only add…

  17. Marketing Financial Aid

    Science.gov (United States)

    Huddleston, Thomas, Jr.; Batty, Burt F.

    1978-01-01

    Student financial assistance services are becoming a major part of the institutional marketing plan as traditional college-age students decline in numbers and price competition among institutions increases. The effect of financial aid on enrollment and admissions processes is discussed along with the role of the financial aid officer. (Author/LBH)

  18. Financial Markets and Compliance

    NARCIS (Netherlands)

    van de Laar, T.A.H.M.; Bleker, Sylvie; Houben, Raf

    2017-01-01

    This chapter will focus on the goals of financial market regulation through the rules of economics, the strategies financial regulation employs to achieve these goals and the insights this provides for the compliance profession. For an overview of the goals and strategies of financial regulation

  19. Essays on financial liberalization

    NARCIS (Netherlands)

    Bumann, Silke

    2015-01-01

    This thesis investigates the effect of financial liberalization on economic growth, income inequality and financial instability. Chapter 1 describes aim and scope of the thesis. Chapter 2 provides a meta-analysis of the literature on financial liberalization and economic growth. It is found that

  20. Resident away rotations allow adaptive neurosurgical training.

    Science.gov (United States)

    Gephart, Melanie Hayden; Derstine, Pamela; Oyesiku, Nelson M; Grady, M Sean; Burchiel, Kim; Batjer, H Hunt; Popp, A John; Barbaro, Nicholas M

    2015-04-01

    Subspecialization of physicians and regional centers concentrate the volume of certain rare cases into fewer hospitals. Consequently, the primary institution of a neurological surgery training program may not have sufficient case volume to meet the current Residency Review Committee case minimum requirements in some areas. To ensure the competency of graduating residents through a comprehensive neurosurgical education, programs may need for residents to travel to outside institutions for exposure to cases that are either less common or more regionally focused. We sought to evaluate off-site rotations to better understand the changing demographics and needs of resident education. This would also allow prospective monitoring of modifications to the neurosurgery training landscape. We completed a survey of neurosurgery program directors and query of data from the Accreditation Council of Graduate Medical Education to characterize the current use of away rotations in neurosurgical education of residents. We found that 20% of programs have mandatory away rotations, most commonly for exposure to pediatric, functional, peripheral nerve, or trauma cases. Most of these rotations are done during postgraduate year 3 to 6, lasting 1 to 15 months. Twenty-six programs have 2 to 3 participating sites and 41 have 4 to 6 sites distinct from the host program. Programs frequently offset potential financial harm to residents rotating at a distant site by support of housing and transportation costs. As medical systems experience fluctuating treatment paradigms and demographics, over time, more residency programs may adapt to meet the Accreditation Council of Graduate Medical Education case minimum requirements through the implementation of away rotations.

  1. FINANCIAL MECHANIZM OF AGRICULTURAL ENTERPRISES’ ACTIVITY

    Directory of Open Access Journals (Sweden)

    Perkov Vladislav

    2018-03-01

    rational use, accumulation and formation of financial resources in the process of economic activity. Continuous adherence to the principles of scientific validity and rationality will ensure the effectiveness of the financial policy of the enterprise. Conclusions. The development of agrarian enterprises is impossible without sufficient financial resources from all possible sources of financing. Since these enterprises have seasonal specifics of activity, the most acceptable source of their own financial resources is profit from business activity, while the outer source contains short-term and medium-term loans. In order to strengthen the financial situation of agrarian enterprises, it is necessary to apply a set of tools and methods that allow to involve local financial mechanisms effectively.

  2. COMPANY ACTIVITY FINANCIAL RISK

    Directory of Open Access Journals (Sweden)

    Caruntu Genu Alexandru

    2012-12-01

    Full Text Available In economic and financial activity, risk is an inherent financial decisions, encountered in daily agenda of managers of companies. Unexpected changes in the price of a product development not only affect the financial results of a company, but can cause even bankruptcy. In fact, the nature of financial decisions involve uncertainty. Financial decisions are made based on cash flows under future contracts, which are par excellence incerte.Activitatea an enterprise that holds any weight in the industry is subject to risks, since it can not predict with certainty different components of its outcome (cost, quantity, price and operating cycle (purchase, processing, sales.

  3. FINANCIAL INSTABILITY IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Cristian, IONESCU

    2014-11-01

    Full Text Available The aim of this paper is to empirically study the concept of financial stability in Romania, from both a monetary policy perspective and a financial perspective. In this paper, I also compute an aggregate index of financial stability, for the period 2008-2013, explaining the correlations between several extremely important macroeconomic and sectorial variables and financial stability. The article also debates the aspect of policy instruments that aim to promote, highlighting the undertaken measures and also giving some measures recommendations, pointing out the main pillars: crises management; cross-sectoral challenges; banking sector; securities markets and capital markets; insurance sector; pensions sector; access to financial services.

  4. When financiers are concerned with energy saving

    International Nuclear Information System (INIS)

    Chauveau, J.

    2005-01-01

    Innovative financial systems allow to finance investments for the energy efficiency improvement of public or residential buildings. Such solutions are implemented in Belgium and Germany. They are based on the association between a financial company, an energy supplier who makes an energy audit and the building owner who refunds the investments with the saving made on the space heating and power consumption of the building. Short paper. (J.S.)

  5. Financial Development, Growth and Equity in Brazil

    OpenAIRE

    Armando Castelar Pinheiro; Regis Bonelli

    2015-01-01

    Financial markets help to foster growth and productivity through their role in mobilizing savings to finance investment and production, selecting and monitoring investment projects, diversifying risks, and allowing investment and production to be carried out in the most productive scale and time frame. This paper examines the links between financial development, growth and equity. The focus is on the Brazilian case, but we also aim at contributing to a broader discussion on the role of financ...

  6. Interactive Financial Charts- Agency Financial Reports

    Data.gov (United States)

    General Services Administration — For a visual depiction of GSA's Balance Sheet and Statement of Net Cost, please use the interactive charts to view the financial results for fiscal years 2007-2013.

  7. THE GLOBAL FINANCIAL CRISIS AND NATIONAL FINANCIAL ...

    African Journals Online (AJOL)

    propose solutions aimed at reducing the effects of global financial crisis by ... rates of return leading to more investment and higher growth for developing countries. .... capital can without notice turn into outflows as it did in Russia and East Asia.

  8. Microsoft Dynamics GP 2013 financial management

    CERN Document Server

    Grieve, Ian

    2013-01-01

    A standard tutorial-based approach covering Microsoft Dynamics GP 2013 and its six financial modules. The book is intended to allow users to improve their system use and workflow by introducing new modules to assist in financial management.This book is for you if you're a Dynamics GP partner, or Dynamics GP user, primarily focused on delivering application optimizations. This book assumes that you have a working knowledge of Microsoft Dynamics GP and have an understanding of the requirements of financial management.

  9. Presenting practice financial information.

    Science.gov (United States)

    Webster, Lee Ann H

    2007-01-01

    Medical practice leadership teams, often consisting primarily of physicians with limited financial backgrounds, must make important business decisions and continuously monitor practice operations. In order to competently perform this duty, they need financial reports that are relevant and easy to understand. This article explores financial reporting and decision-making in a physician practice. It discusses reports and tools, such as ratios, graphs, and comparisons, that practices typically include in their reports. Because profitability and cash flow are often the most important financial considerations for physician practices, reports should generally focus on the impact of various activities and potential decisions upon these concerns. This article also provides communication tips for both those presenting practice financial information and those making the decisions. By communicating effectively, these leaders can best use financial information to improve decision-making and maximize financial performance.

  10. 20 CFR 633.303 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... fixed unit price; and (3) Stipulates that full payment for the full unit price will be made only upon... designed to contribute to the enhancement of professional and technical program knowledge. No financial...

  11. Assessing the Effects of Financial Literacy on Patient Engagement.

    Science.gov (United States)

    Meyer, Melanie A; Hudak, Ronald P

    2016-07-01

    We investigated the relationship between financial literacy and patient engagement while considering the possible interaction effects due to patient financial responsibility and patient-physician shared decision making, and the impact of personal attributes. Participants consisted of an Internet-based sample of American adults (N = 160). Hierarchical multiple linear regression analysis was conducted to examine the relationship of the study variables on patient engagement. We found that patient financial responsibility (β = -.19, p financial literacy and patient engagement; moreover, the moderation effects of patient financial responsibility and shared decision making with financial literacy also were not statistically significant. Increasing patient financial responsibility and patient-physician shared decision making can impact patient engagement. Understanding the predictors of patient engagement and the factors that influence financial behaviors may allow for the development of interventions to enable patients to make better healthcare decisions, and ultimately, improve health outcomes.

  12. REGARDING THE USERS OF FINANCIAL STATEMENTS AND THEIR INFORMATION NEEDS

    Directory of Open Access Journals (Sweden)

    Mihaela Luca

    2008-12-01

    Full Text Available In order to satisfy the information needs of users from inside and outside the organizations, accounting elaborated a proper method of generalization and synthesizing of information it produces, which involved the development of some appropriate tools, known as financial statements. For users outside the company, these are often the only source of information available directly from the organization. The knowledge of the interests of different categories of users has an important role in trying to improve the quality of financial statements, which should allow taking correct decisions based on the financial position, the results of economic and financial activity and the changes in the financial position of the company.

  13. BUDGET PLANNING IN FINANCIAL MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Nataliya Melnichuk

    2015-11-01

    Full Text Available The purpose of the paper is to determine the nature, targets, functions, principles and methods of budget planning and development of classifications due to its types. The essence of budget planning presented by various authors, is own interpretation (the process of developing a plan of formation, distribution and redistribution of financial funds according to budget system units during the reporting period based on budgetary purposes and targets defined by socio-economic development strategy is proposed. Methodology. The following methods such as cognition, induction, deduction, analysis and synthesis have been used in the process of survey. Results of the survey proves that budget planning plays an essential role in the financial management. On condition business environment changing even the best management system can become obsolete. The immediate reaction to the new trends in the financial system as a whole, in the industry is possible with budget planning as well. It also allows to make appropriate adjustments to the plans. Adjustment of long-term, medium-term and short-term plans makes it possible, without changing goals, to change ways of their achievement and thus to raise the level of efficiency of budget funds formation and use. It is necessary to revise the whole system plans, including their mission and goals in the case of global changes in the external and internal environment. Practical implications. The proposed approach to the classification of budget planning types allows to cope with the shortcomings of modern planning in the public sector (the development of the targets according to the state budget expenditures in Ukraine remains a formality and it rarely complies with realities. Value/originality is specified in the proposed interpretation which differs from existing ones that provides clarification of budget planning purpose in financial management; classification of budget planning principles, which differs from previous

  14. The World Financial Crisis

    OpenAIRE

    F. Gerard Adams

    2009-01-01

    The world financial crisis of 2008 is a consequence of new financial technologies, new accounting methods and new international linkages. These developments have come at a time when governments have returned to an old-fashioned freemarket philosophy. This paper links the systemic financial/economic crisis of 2008 to the new economy developments, globalisation and policy philosophy perspectives of recent decades. It raises the question of how to re-establish confidence once traditional thinkin...

  15. Taxing Financial Activity

    OpenAIRE

    Jack M. Mintz

    2003-01-01

    In most countries, substantial business activity is related to financial intermediation: banking, trusts, investment companies and insurance. Financial businesses play a crucial role in the economy by matching lenders with borrowers as well as facilitating governance of businesses through close monitoring of funds lent to businesses. Financial institutions also reduce risk faced by investors by pooling investments over many different types of business activities and insuring against property,...

  16. Managing the Financial Risks of Water Scarcity

    Science.gov (United States)

    Characklis, Greg; Foster, Ben; Kern, Jordan; Meyer, Eliot; Zeff, Harrison

    2015-04-01

    Environmental uncertainty poses a growing number of financial risks to society, with droughts, floods, extreme temperatures and violent storms imposing costs that approach 500 billion per year. While structural forms of mitigation (i.e. levees, dams) will certainly play a role in limiting financial impacts, these are large investments whose full value is only rarely realized. Furthermore, the value of such long-lived measures becomes increasingly uncertain in a changing climate, raising the issue of whether they will be effective 20-30 years hence. Financial instruments, such as index insurance, can provide increased flexibility by providing compensation for losses only when they occur, and limited contract periods allow terms to be periodically rewritten in response to changing conditions. Financial instruments can also be effectively combined with other economic tools and infrastructure to create integrated solutions in which infrastructure mitigates losses from moderate events, while financial products compensate for more rare, but extreme, events. There is a long history of environmentally-related insurance and hedging instruments, but to date the actuarial analyses that underlie contract structure and pricing have been based on straightforward observations, such as cumulative rainfall. More recently, simple correlations between two time series have been used to develop index-based contracts. Links between temperature and electricity demand, for example, provide a basis for contracts that are used to limit the financial exposure of power generators to low revenues during unseasonably warm winters or cool summers. Unfortunately, few environmental risks can be so quickly and easily linked to a financial impact. However, with a more advanced understanding of the environmental systems that give rise to financial losses, opportunities exist to develop innovative contracts for a range of new applications. Recent research describes the characterization and mitigation

  17. THEORETICAL ASPECTS OF FINANCIAL LIBERALIZATION PROCESS

    Directory of Open Access Journals (Sweden)

    Ciupac-Ulici Maria-Lenuta

    2013-07-01

    Full Text Available Financial liberalization process and its implications on financial emerging markets have been multidisciplinary research since 1970. Reform of financial liberalization is a complex and long phenomena. This implies that the impact of this reform on financial markets should not be immediate, but rather gradually during a long time period. It is also important to note that liberalization does not occur in the same way on all financial markets. Each country, according to his specification regarding the economic climate and the specificity of financial markets, has differently set its progress of liberalization process. It is generally accepted that the process of financial liberalization is not composed of a single event, but a series of events. The idea is that market reform is a gradual process where the data identified above only refers to the most significant events. Regarding the effect of liberalization reform on emerging markets has been shown; on the one hand, that liberalization helps to reduce the cost of capital, helps to integrate the emerging markets in the global market, enhances economic growth and allows emerging markets to become more mature. On the other hand, financial liberalization process has a very ambiguous and inconclusive impact on informational efficiency and volatility in emerging markets. Launching liberalization reforms provided an analytical framework for studies that attempt to investigate the effectiveness of emerging markets and empirical links between liberalization and efficiency. The first reason is that with liberalization, the authors believe that emerging markets have become more speculative and more competitive. So there is a chance to see if the weak form market efficiency is verified. The second reason is that the authors explore the relationship between liberalization and efficiency. Researchers and regulators seek an answer to the fundamental question: financial liberalization helps the stock market

  18. RTE - 2012 financial results

    International Nuclear Information System (INIS)

    Ricour, Olivia; Marguier, Marina; Lartigau, Thierry

    2013-01-01

    The mission of RTE, the French electricity Transportation grid, a public service assignment, is to balance the electricity supply and demand in real time. This report presents RTE's financial results for 2012: increase of investments for services to clients, performance results, financial balance, stability of the economical model. RTE's regulated economical model, main financial indicators, 2007-2012 investments, 2012 investments by category, 2012 turnover, 2012 costs structure, taxes, financial balance sheet at the end of 2012, and the share of electricity transport in the electricity price are presented in appendixes

  19. Domesticizing Financial Economies

    DEFF Research Database (Denmark)

    Deville, Joe; Lazarus, Jeanne; Luzzi, Mariana

    show. Third, the “domestication of financial economies”: financial literacy programs developed by governmental bodies, international organizations, and banks have become a ubiquitous layer attached to the assemblage of financial economies in many countries. And last but not least, “domesticizing social...... practices as well as the precise way financial providers are evaluating, sorting and targeting their consumers. We believe these diverse trends are starting to converge, and the ambitions of this paper are both to organize scattered literature and to reflect upon the consequences of the new field...

  20. Forecasting Financial Stress

    OpenAIRE

    Jan Willem Slingenberg; Jakob de Haan

    2011-01-01

    This paper uses a Financial Stress Index (FSI) for 13 OECD countries to examine which variables can help predicting financial stress. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. We employ three criteria for indicators to be used in constructing a multi-country FSI (the index covers the entire financial system, indicators used are available at a high frequency for many countries for a long period, and are comparable) to c...

  1. Offshore Financial Centers in Global Capital Flow

    Directory of Open Access Journals (Sweden)

    Lutsyshyn Zoriana

    2017-12-01

    Full Text Available The article is dedicated to investigation of the place and role of offshore financial centers in financial globalization system, and of the reasons for using offshores in assets securitization mechanism. Numerous offshore and other preferential zones enabling to avoid the effective national and governmental tax regime are important attributes of global financial system and redistributive links of world financial flows. At present, around 70 countries and territories offer their offshore services for foreign capital, bank transactions, profitability from activities in financial markets proper. The global offshore business concentrates large amounts often having no relation to the country of origin, the so-called cosmopolitan capital (wandering. Although in the early 80's of the XXth century offshore companies were considered to control approximately 500 billion dollars, it was already in the early 90's that this amount doubled and was estimated as 1 trillion dollars. Today, from ⅓ to half of the world capital turnover goes through offshore business channels, and therefore, almost half of non-resident bank deposits are concentrated in world offshore centers. These are the world financial centers comprising international capital markets that provide for the accumulation and redistribution of world capital. From the process of reproduction (circulation of capital, the world financial centers plunge out the most homogeneous and mobile element — money, and freely manipulating with them, concentrate huge economic power in their hands. The role of world financial centers was also enhanced by the latest achievements in computer science, allowing execution of instant transactions and movement of huge amounts to any point of the world within the shortest possible time. The world financial centers consist not only of powerful banks and financial institutions operating on the international scene, but also have currency, stock and other exchanges as their

  2. Financial Wealth Distribution in Revised Financial Accounts

    Directory of Open Access Journals (Sweden)

    Václav Rybáček

    2012-09-01

    Full Text Available Financial statistics undergo dynamic evolution as apparent consequence of their rising importance. Structureof assets, source of fi nancing, price changes or net fi nancial position, all these indicators can detect oncomingfi nancial instability. Financial statistics as a logical extension of the national accounts provide such information.Th e aim of the following text is to present fi nancial statistics, relation between particular accounts, the impact of extraordinary revision carried out in 2011, and also to analyse current wealth distribution as described by fi nancial statistics.

  3. The Usefulness of Financial Statements in Making Financial Diagnosis

    Directory of Open Access Journals (Sweden)

    Mitica Pepi

    2016-01-01

    Full Text Available Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depends on the quality, accuracy, relevance and effectiveness of economic information collected and processed. The primary sources of information for financial analysis are the financial statements, which are considered as raw material in the analysis.

  4. Corporate financial restructuring in Asia: implications for financial stability

    OpenAIRE

    Michael Pomerleano

    2007-01-01

    Corporate financial fragility preceding the Asian financial crisis heightened vulnerabilities. Many countries in the region undertook significant corporate financial restructuring after the crisis, with some countries bouncing back much faster than others. These sounder corporate financial practices bode well for financial stability.

  5. Financial And Non-financial Factors Motivating Individual Donors To Support Public Benefit Organizations

    Directory of Open Access Journals (Sweden)

    WANIAK-MICHALAK HALINA

    2015-03-01

    Full Text Available This study is aimed at determining how the financial data of public benefit organizations (PBOs affects donations received by them and if the donors use financial and non-financial information in order to donate. In order to achieve our aim we used different methods of research: quantitative research (econometric model and survey and qualitative research (laboratory test. The research allowed us to draw the conclusion that Polish donors make very limited use of PBOs’ financial statements in the donation process and that non-financial information plays greater role for donors in making decisions to give charitable donations. The most important information is the organization's goals and descriptions of its projects. At the same time, many donors stated that they donated under the influence of people they knew. This article fits into the scope of world research on PBOs and uses the concept of civil society.

  6. 46 CFR 154.440 - Allowable stress.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 5 2010-10-01 2010-10-01 false Allowable stress. 154.440 Section 154.440 Shipping COAST... Tank Type A § 154.440 Allowable stress. (a) The allowable stresses for an independent tank type A must... Commandant (CG-522). (b) A greater allowable stress than required in paragraph (a)(1) of this section may be...

  7. 46 CFR 154.421 - Allowable stress.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 5 2010-10-01 2010-10-01 false Allowable stress. 154.421 Section 154.421 Shipping COAST... § 154.421 Allowable stress. The allowable stress for the integral tank structure must meet the American Bureau of Shipping's allowable stress for the vessel's hull published in “Rules for Building and Classing...

  8. 34 CFR 304.21 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 2 2010-07-01 2010-07-01 false Allowable costs. 304.21 Section 304.21 Education... Grantee § 304.21 Allowable costs. In addition to the allowable costs established in the Education... allowable expenditures by projects funded under the program: (a) Cost of attendance, as defined in Title IV...

  9. 2 CFR 215.27 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Allowable costs. 215.27 Section 215.27... § 215.27 Allowable costs. For each kind of recipient, there is a set of Federal principles for determining allowable costs. Allowability of costs shall be determined in accordance with the cost principles...

  10. 50 CFR 80.15 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 6 2010-10-01 2010-10-01 false Allowable costs. 80.15 Section 80.15... WILDLIFE RESTORATION AND DINGELL-JOHNSON SPORT FISH RESTORATION ACTS § 80.15 Allowable costs. (a) What are allowable costs? Allowable costs are costs that are necessary and reasonable for accomplishment of approved...

  11. 49 CFR 266.11 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 4 2010-10-01 2010-10-01 false Allowable costs. 266.11 Section 266.11... TRANSPORTATION ACT § 266.11 Allowable costs. Allowable costs include only the following costs which are properly allocable to the work performed: Planning and program operation costs which are allowed under Federal...

  12. Financial Services Marketing.

    Science.gov (United States)

    Olson, Lucretia Maria

    This manual contains student assignments in the financial services area of the marketing process. The individualized competency-based materials are intended to enhance and supplement instruction or to provide the basis for a course of instruction by the teacher-coordinator. Information on skills needed in jobs in financial marketing is first…

  13. Sources of Financial Sociability

    DEFF Research Database (Denmark)

    Thompson, Grahame

    2011-01-01

    This article investigates the sources of sociability in modern financial systems as a prelude to assessing the prospects for financial regulation. Three sources are identified: sociality dependent upon contract, upon relational interdependency, and upon the operation of will and passion. Each of ...

  14. Financial Rogue Waves

    International Nuclear Information System (INIS)

    Yan Zhenya

    2010-01-01

    We analytically give the financial rogue waves in the nonlinear option pricing model due to Ivancevic, which is nonlinear wave alternative of the Black-Scholes model. These rogue wave solutions may he used to describe the possible physical mechanisms for rogue wave phenomenon in financial markets and related fields.

  15. Household financial behavior

    NARCIS (Netherlands)

    Brounen, Dirk; Koedijk, Kees; Pownall, Rachel

    2016-01-01

    Greater personal responsibility toward financial decision-making is being advocated on a global basis. Individuals and households are encouraged to take a more active approach to personal finance. In this paper, we examine behavioral factors, which lead households toward savings and financial

  16. Understanding financial statements.

    Science.gov (United States)

    Tarantino, D P

    2001-01-01

    In his premier column for The Physician Executive, David Tarantino takes a look at those critical "financials" that can make or break a business. If you're considering a career move, you need to know the financial condition of future employers. Learn how to read the statements and glean valuable information from the numbers.

  17. Optimal Fragile Financial Networks

    NARCIS (Netherlands)

    Castiglionesi, F.; Navarro, N.

    2007-01-01

    We study a financial network characterized by the presence of depositors, banks and their shareholders. Belonging to a financial network is beneficial for both the depositors and banks' shareholders since the return to investment increases with the number of banks connected. However, the network is

  18. Consolidating Financial Statements.

    Science.gov (United States)

    Wood, Marcia R.

    This publication is designed to be a desktop reference and assist financial officers in both public and independent institutions of higher education in the preparation of consolidated financial statements. Chapter 1 covers generally accepted accounting principles and other accounting literature, and summarizes reporting rules of the Financial…

  19. Illiquidity and financial crisis

    NARCIS (Netherlands)

    A.M. Pacces (Alessio)

    2013-01-01

    textabstractThis article analyzes the determinants of liquidity crises based on the dynamics of banking and finance under Knightian uncertainty. In this perspective, the facts of the global financial crisis seem to confirm Minsky's hypothesis of endogenous financial instability derived from Keynes's

  20. Financial Sector Assessment : Morocco

    OpenAIRE

    World Bank

    2003-01-01

    This Financial Sector Assessment (FSA) provides a summary of the policy priorities, and main findings intended to assist the Moroccan authorities in evaluating the country's financial system. It reviews the uneasy trade-off between concerns for stability, and development, suggesting Morocco's macroeconomic policies and practices as a whole tend to err more on the side of the concerns of pr...

  1. Financial Sector Assessment : Turkey

    OpenAIRE

    World Bank

    2007-01-01

    A joint International Monetary Fund-World Bank team conducted an assessment of Turkey's financial system in connection with the Financial Sector Assessment Program (FSAP) through missions in April, August-September 2006 and March, 2007. This report provides a summary of the main findings of the assessment and the policy priorities identified. The main objective of the FSAP is to assist the...

  2. Financial Sector Assessment : Mongolia

    OpenAIRE

    World Bank

    2012-01-01

    Owing primarily to extensive investment in new mining projects, Mongolia's economy is on a path of very rapid long-term growth. While financial intermediation in Mongolia has been growing fast, access to finance remains a critical constraint for enterprises, and especially for Small and Medium Enterprises (SMEs). Improving access to financial services will require strengthening the legal a...

  3. Nonlinear Optimization with Financial Applications

    CERN Document Server

    Bartholomew-Biggs, Michael

    2005-01-01

    The book introduces the key ideas behind practical nonlinear optimization. Computational finance - an increasingly popular area of mathematics degree programs - is combined here with the study of an important class of numerical techniques. The financial content of the book is designed to be relevant and interesting to specialists. However, this material - which occupies about one-third of the text - is also sufficiently accessible to allow the book to be used on optimization courses of a more general nature. The essentials of most currently popular algorithms are described, and their performan

  4. Financial instrument pricing using C++

    CERN Document Server

    Duffy, Daniel J

    2004-01-01

    One of the best languages for the development of financial engineering and instrument pricing applications is C++. This book has several features that allow developers to write robust, flexible and extensible software systems. The book is an ANSI/ISO standard, fully object-oriented and interfaces with many third-party applications. It has support for templates and generic programming, massive reusability using templates (?write once?) and support for legacy C applications. In this book, author Daniel J. Duffy brings C++ to the next level by applying it to the design and implementation of class

  5. Ensuring the Process of Realisation of Financial Planning of Banking Activity

    OpenAIRE

    Kirkach Svitlana M.

    2014-01-01

    The article studies theoretical aspects of the process of realisation of financial planning of the bank's activity and identifies and justifies its six main stages: 1) goal formation stage; 2) preparation stage; 3) assessment; 4) financial plan approval; 5) financial plan execution, and 6) stage of the financial plan monitoring, control and adjustment. The above sequence of stages of the process of realisation of financial planning of the bank's activity allows a trustworthy assessment of the...

  6. 33 CFR 136.211 - Compensation allowable.

    Science.gov (United States)

    2010-07-01

    ...) MARINE POLLUTION FINANCIAL RESPONSIBILITY AND COMPENSATION OIL SPILL LIABILITY TRUST FUND; CLAIMS PROCEDURES; DESIGNATION OF SOURCE; AND ADVERTISEMENT Procedures for Particular Claims § 136.211 Compensation... that amount required to accomplish the activities for which the claim was paid. Real or Personal...

  7. 10 CFR 600.222 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... part 31. Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with... OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS FINANCIAL ASSISTANCE RULES Uniform Administrative...) Applicable cost principles. For each kind of organization, there is a set of Federal principles for...

  8. 15 CFR 24.22 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... Part 31. Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with... GRANTS AND COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial...) Applicable cost principles. For each kind of organization, there is a set of Federal principles for...

  9. 28 CFR 66.22 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... part 31. Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with... AND COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial...) Applicable cost principles. For each kind of organization, there is a set of Federal principles for...

  10. 49 CFR 18.22 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... Procedures, or uniform cost accounting standards that comply with cost principles acceptable to the Federal... COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 18.22... cost principles. For each kind of organization, there is a set of Federal principles for determining...

  11. 21 CFR 1403.22 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    .... Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with cost... COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 1403...) Applicable cost principles. For each kind of organization, there is a set of Federal principles for...

  12. 45 CFR 1157.22 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... Procedures, or uniform cost accounting standards that comply with cost principles acceptable to the Federal... AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 1157.22... cost principles. For each kind of organization, there is a set of Federal principles for determining...

  13. 20 CFR 437.22 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... CFR Part 31. Contract Cost Principles and Procedures, or uniform cost accounting standards that comply... COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 437...) Applicable cost principles. For each kind of organization, there is a set of Federal principles for...

  14. 45 CFR 1174.22 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... Part 31. Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with... COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 1174...) Applicable cost principles. For each kind of organization, there is a set of Federal principles for...

  15. 45 CFR 1183.22 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... Part 31. Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with... COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial Administration § 1183...) Applicable cost principles. For each kind of organization, there is a set of Federal principles for...

  16. 14 CFR 1273.22 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... CFR part 31, Contract Cost Principles and Procedures, or uniform cost accounting standards that comply... GRANTS AND COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS Post-Award Requirements Financial.... (b) Applicable cost principles. For each kind of organization, there is a set of Federal principles...

  17. Trusts and Financialization

    DEFF Research Database (Denmark)

    Harrington, Brooke

    2017-01-01

    the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive......This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital...... and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth....

  18. Fundamentals of Financial Statements Audit

    OpenAIRE

    World Bank

    2011-01-01

    The purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. The objective of an audit of financial statements is to enable an auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with International Financial Reporting Standards or another identified financial reporting fr...

  19. Framework for Financial Ratio Analysis of Audited Federal Financial Reports

    National Research Council Canada - National Science Library

    Brady, Richard

    1999-01-01

    .... With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations...

  20. FINANCIAL INSTRUMENTS FOR THE PROTECTION OF MOTHERS

    Directory of Open Access Journals (Sweden)

    ANA-PETRINA PĂUN

    2016-10-01

    Full Text Available The social policy of any state incorporates suitable financial tools that support parents and children. In this paper, we have presented the evolution of these forms of social protection, which have changed almost yearly over the past decade. The ones that I have considered particularly important are: the allowance for raising children up to 2 years or up to 3 years in the case of disabled children and the re-induction incentive. An important instrument of reintegration in the labour market, the re-induction incentive is presented in the main financial aspects and statistically speaking, I have analyzed its evolution in numbers and total value. In the second part of the thesis I have shown the social, legislative and financial aspects of the child raising allowance.

  1. Quality of Financial Policies and Financial System Stress

    OpenAIRE

    Udaibir S Das; Plamen Yossifov; Richard Podpiera; Dmitriy L Rozhkov

    2005-01-01

    In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.

  2. Why Financial Advice Cannot Substitute for Financial Literacy?

    OpenAIRE

    M. Debbich

    2015-01-01

    This paper examines the ability of financial advice provided by sellers of financial services to substitute for financial literacy of customers. I set up a simple theoretical model in which an informed financial advisor communicates with a less informed customer of financial services. Given the existence of a conflict of interest from the advisor's perspective, the model predicts that only well financially sophisticated customers receive relevant information from the advisor. This fact tends ...

  3. Disclosure of Non-Financial Information: Relevant to Financial Analysts?

    OpenAIRE

    ORENS, Raf; LYBAERT, Nadine

    2013-01-01

    The decline in the relevance of financial statement information to value firms leads to calls from organizational stakeholders to convey non-financial information in order to be able to judge firms' financial performance and value. This literature review aims to report extant literature findings on the use of corporate non-financial information by sell-side financial analysts, the information intermediaries between corporate management and investors. Prior studies highlight that financial ana...

  4. Financial globalisation uncertainty/instability is good for financial development

    OpenAIRE

    Asongu, Simplice A.; Koomson, Isaac; Tchamyou, Vanessa S.

    2015-01-01

    Purpose – This study assesses the effect of time-dynamic financial globalisation uncertainty on financial development in 53 African countries for the period 2000-2011. Design/methodology/approach – Financial globalisation uncertainty is estimated as time-dynamic to capture business cycle disturbances while all dimensions identified by the Financial Development and Structure Database of the World Bank are employed, namely: financial depth (money supply and liquid liabilities), financial sy...

  5. The impact of the financial revolution in England in 1688 on the development of financial services

    Directory of Open Access Journals (Sweden)

    S.Z. Moshenskyi

    2016-12-01

    Full Text Available The differences between the decentralized model of the British financial market from the centralized French (continental model emerged after the financial revolution of 1688 in England, which lasted until the end of the XVII century and had an impact on public and private finance. Due to the captivity of the French Huguenots shortly before the "Glorious Revolution" in England, new technologies appeared in the financial sector, and manifested in the creation of the first British banks. After the revolution, with the coming to power of the Dutch Prince, many financiers arrived at London and were spreading the technique of effective Dutch stock transactions. Increased interest of the society to innovation in the financial market and the emergence of new investment opportunities had a positive impact on the development of stock market, government bond market and derivatives market. This, in its turn, led to the appearance of new financial intermediaries such as jobbers, who took over the high risks because of investing of own funds in securities. Such significant changes in the financial system of England became the important prerequisite of the industrial revolution and allowed it to take the leading position in the economic, political and financial area in the world.

  6. The Impact on New Hampshire's Budget of Allowing Same-Sex Couples to Marry

    OpenAIRE

    Badgett, M.V. Lee; Sears, Brad; Kukura, Elizabeth

    2005-01-01

    This analysis, co-authored by the Institute for Gay and Lesbian Strategic Studies (IGLSS) and UCLA’s Williams Project on Sexual Orientation Law and Public Policy, estimates the impact of allowing same-sex couples to marry on New Hampshire’s state budget. Using the best data available, we estimate that allowing same-sex couples to marry will result in a net gain of approximately $500,000 each year for the State. This net impact will be the result of savings in expenditures on state means-teste...

  7. The Impact of Washington's Budget of Allowing Same-Sex Couples to Marry

    OpenAIRE

    Badgett, M.V. Lee; Sears, Brad; Kukura, Elizabeth; Lau, Holning S.

    2006-01-01

    This analysis estimates the impact of allowing same-sex couples to marry on Washington’s state budget. Using the best data available, we estimate that allowing same-sex couples to marry will result in a net gain of approximately $3.9 million to $5.7 million each year for the State. This net impact will result from savings in expenditures on state means-tested public benefits programs and from an increase in sales tax revenue from weddings and wedding-related tourism.

  8. No-arbitrage bounds for financial scenarios

    DEFF Research Database (Denmark)

    Geyer, Alois; Hanke, Michael; Weissensteiner, Alex

    2014-01-01

    We derive no-arbitrage bounds for expected excess returns to generate scenarios used in financial applications. The bounds allow to distinguish three regions: one where arbitrage opportunities will never exist, a second where arbitrage may be present, and a third, where arbitrage opportunities...

  9. Be Vigilant on Financial Statements.

    Science.gov (United States)

    Freed, DeBow

    2002-01-01

    Highlights areas on university's financial statements that warrant careful review by trustees and suggests ways they can check to see whether an institution's financial statements are clear and valid indicators of its financial status. (EV)

  10. The instruments of financial planning

    OpenAIRE

    Durnov, V.

    2011-01-01

    The paper analyzes financial planning efficiency for enterprise management improvement. The author describes the system of financial tools and considers in detail financial planning methods, their strengths and weaknesses

  11. Clean Air Markets - Allowances Query Wizard

    Data.gov (United States)

    U.S. Environmental Protection Agency — The Allowances Query Wizard is part of a suite of Clean Air Markets-related tools that are accessible at http://camddataandmaps.epa.gov/gdm/index.cfm. The Allowances...

  12. Allowance Holdings and Transfers Data Inventory

    Data.gov (United States)

    U.S. Environmental Protection Agency — The Allowance Holdings and Transfers Data Inventory contains measured data on holdings and transactions of allowances under the NOx Budget Trading Program (NBP), a...

  13. Framing financial culture

    DEFF Research Database (Denmark)

    Just, Sine Nørholm; Mouton, Nicolaas T.O.

    2014-01-01

    between competing frames leads to the conclusion that this political “blame game” is related to struggles over how to define the scandal, how to conceptualize its causes, and policy recommendations. Banks may have lost the battle of “Liborgate,” but the war over the meaning of financial culture is far...... from over. Originality/value – The paper is theoretically and methodologically original in its combination of the theories of framing and stasis, and it provides analytical insights into how sense is made of financial culture in the wake of the financial crisis....

  14. Predicting volatility and correlations with Financial Conditions Indexes

    NARCIS (Netherlands)

    Opschoor, A.; van Dijk, D.; van der Wel, M.

    2014-01-01

    We model the impact of financial conditions on asset market volatilities and correlations. We extend the Spline-GARCH model for volatility and DCC model for correlation to allow for inclusion of indexes that measure financial conditions. In our empirical application we consider daily stock returns

  15. Predicting Volatility and Correlations with Financial Conditions Indexes

    NARCIS (Netherlands)

    A. Opschoor (Anne); D.J.C. van Dijk (Dick); M. van der Wel (Michel)

    2014-01-01

    textabstractWe model the impact of financial conditions on asset market volatilities and correlations. We extend the Spline-GARCH model for volatility and DCC model for correlation to allow for inclusion of indexes that measure financial conditions. In our empirical application we consider daily

  16. The Geography of Financial Literacy

    OpenAIRE

    Christopher Bumcrot; Judy Lin; Annamaria Lusardi

    2013-01-01

    This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the...

  17. Childhood roots of financial literacy

    OpenAIRE

    Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas

    2015-01-01

    Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic characteristics. We find in a mediation analysis that both family and school pos...

  18. The influence of publication of financial statements, risk of takeover and financial position of the auditee on public auditors' unethical behaviour

    NARCIS (Netherlands)

    van Dijk, M

    2000-01-01

    This study examines the effects of publication of financial statements, the risk of a takeover of the auditee and the auditee's financial position on auditors' willingness to allow material errors in financial statements in case of management pressure. The results show that all factors significantly

  19. Consumer's Negative emotions, Financial Decisions, Financial Advice

    OpenAIRE

    Konstantaki, Violetta

    2007-01-01

    Abstract The purpose of this study is to explore the consumers decision making process. In particular, this study attempts to examine consumers negative emotions, which elicit during a decision processing. Especially, the case of a financial decision will be examined. Moreover, consumers negative emotion will be investigated in relation with consumers coping behaviour. To be more specific, the option of seeking advice as a successful consumers coping behaviour will be explor...

  20. Financial satisfaction and financial stressors in marital satisfaction.

    Science.gov (United States)

    Archuleta, Kristy L; Britt, Sonya L; Tonn, Teresa J; Grable, John E

    2011-04-01

    Using a sample of 310 married respondents from one U.S. Midwestern state, a test was conducted to examine the association of financial satisfaction and financial stressors in a spouse's decision to stay married to the same person or leave the relationship. The role of demographic and socioeconomic variables, religiosity, psychological constructs, financial satisfaction, and financial stressors as factors influencing marital satisfaction was tested. Financial stressors were measured using a list of financial stressors adapted from the literature. Financial satisfaction was measured with a one-item scale. The Kansas Marital Satisfaction Scale was used as a validation tool to assess whether individuals would marry or not marry again. Religiosity and financial satisfaction were positively associated with marital satisfaction. A negative interaction between financial satisfaction and financial stressors was also noted. Findings suggest that respondents who are financially satisfied tend to be more stable in their marriages.

  1. 49 CFR 19.27 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... applicable to the entity incurring the costs. Thus, allowability of costs incurred by State, local or... Circular A-87, “Cost Principles for State and Local Governments.” The allowability of costs incurred by non... Principles for Non-Profit Organizations.” The allowability of costs incurred by institutions of higher...

  2. 29 CFR 95.27 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... cost principles applicable to the entity incurring the costs. Thus, allowability of costs incurred by... Governments.” The allowability of costs incurred by non-profit organizations is determined in accordance with... Organizations.” The allowability of costs incurred by institutions of higher education is determined in...

  3. 24 CFR 84.27 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... to the entity incurring the costs. Thus, allowability of costs incurred by State, local or federally..., “Cost Principles for State and Local Governments.” The allowability of costs incurred by non-profit...-Profit Organizations.” The allowability of costs incurred by institutions of higher education is...

  4. 7 CFR 550.25 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... cost principles applicable to the entity incurring the costs. Thus, allowability of costs incurred by... at 2 CFR part 225. The allowability of costs incurred by non-profit organizations is determined in... at 2 CFR part 230. The allowability of costs incurred by institutions of higher education is...

  5. 36 CFR 1210.27 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... applicable to the entity incurring the costs. Thus, allowability of costs incurred by State, local or... Circular A-87, “Cost Principles for State and Local Governments.” The allowability of costs incurred by non... Principles for Non-Profit Organizations.” The allowability of costs incurred by institutions of higher...

  6. 7 CFR 3019.27 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... applicable to the entity incurring the costs. Thus, allowability of costs incurred by State, local or... Circular A-87, “Cost Principles for State and Local Governments.” The allowability of costs incurred by non... Principles for Non-Profit Organizations.” The allowability of costs incurred by institutions of higher...

  7. 46 CFR 154.428 - Allowable stress.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 5 2010-10-01 2010-10-01 false Allowable stress. 154.428 Section 154.428 Shipping COAST GUARD, DEPARTMENT OF HOMELAND SECURITY (CONTINUED) CERTAIN BULK DANGEROUS CARGOES SAFETY STANDARDS FOR... § 154.428 Allowable stress. The membrane tank and the supporting insulation must have allowable stresses...

  8. 46 CFR 154.447 - Allowable stress.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 5 2010-10-01 2010-10-01 false Allowable stress. 154.447 Section 154.447 Shipping COAST... Tank Type B § 154.447 Allowable stress. (a) An independent tank type B designed from bodies of revolution must have allowable stresses 3 determined by the following formulae: 3 See Appendix B for stress...

  9. 42 CFR 417.802 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 3 2010-10-01 2010-10-01 false Allowable costs. 417.802 Section 417.802 Public... PLANS Health Care Prepayment Plans § 417.802 Allowable costs. (a) General rule. The costs that are considered allowable for HCPP reimbursement are the same as those for reasonable cost HMOs and CMPs specified...

  10. 45 CFR 1180.56 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 3 2010-10-01 2010-10-01 false Allowable costs. 1180.56 Section 1180.56 Public... by a Grantee General Administrative Responsibilities § 1180.56 Allowable costs. (a) Determination of costs allowable under a grant is made in accordance with government-wide cost principles in applicable...

  11. 50 CFR 85.41 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 6 2010-10-01 2010-10-01 false Allowable costs. 85.41 Section 85.41... Use/Acceptance of Funds § 85.41 Allowable costs. (a) Allowable grant costs are limited to those costs... applicable Federal cost principles in 43 CFR 12.60(b). Purchase of informational signs, program signs, and...

  12. 34 CFR 675.33 - Allowable costs.

    Science.gov (United States)

    2010-07-01

    ... costs. An institution's share of allowable costs may be in cash or in the form of services. The... 34 Education 3 2010-07-01 2010-07-01 false Allowable costs. 675.33 Section 675.33 Education... costs. (a)(1) Allowable and unallowable costs. Except as provided in paragraph (a)(2) of this section...

  13. Financial Performance Analysis Of Financial Service Cooperative

    Directory of Open Access Journals (Sweden)

    Eyo Asro Sasmita

    2015-08-01

    Full Text Available This research is aimed to test and identify empirical evidence regarding the effect of capital structure and loan to financial performance of cooperative where the relationship between loan and financial performance is moderated by non-performing loan. The population of this research is 257 Financial Service Cooperative hereinafter referred to as KJK as the abbreviation for Koperasi Jasa Keuangan of Urban Village Community Economic Empowerment hereinafter referred to as PEMK as the abbreviation for Pemberdayaan Ekonomi Masyarakat Kelurahan in Jakarta 2011 to 2013. Sample is determined by using purposive sampling method. The data is secondary data which is obtained from the Revolving Fund Management Unit hereinafter referred to as UPDB as the abbreviation for Unit Pengelola Dana Bergulir Jakarta. Hypothesis is tested by using multiple linear regression analysis with SPSS 20.00. The number of sample used in this research is 120. Research findings explain that 1 Capital Structure hereinafter referred to as SM as the abbreviation for Struktur Modal has positive and significant impact on financial performance hereinafter referred to as KIN as the abbreviation for Kinerja Keuangan because the probability value of 0000 is smaller than amp945 0.05. Calculation shows that if the capital structure rises 1 assuming that the loan and non-performing loan variables remain the same then the financial performance will increase 0.017. 2 Loans hereinafter referred to as PIN as the abbreviation for Pinjaman given has positive and significant impact on KIN because the probability value of 0001 is smaller than amp945 0.05. If the loan rises 1 assuming that the capital structure and non-performing loan variables remain the same then the KIN will increase 0.013. 3 Non-performing loan has negative and significant effect on KIN because the probability value of 0000 is smaller than amp945 0.05. PBR varible increase 1 assuming that the loan and capital structure variables

  14. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects...

  15. Morocco - Financial Services

    Data.gov (United States)

    Millennium Challenge Corporation — The final evaluation of the Financial Services Project (FSP), undertaken by North South Consultants Exchange (NSCE), was undertaken from 17 April to end of September...

  16. CEA financial report 2007

    International Nuclear Information System (INIS)

    2007-01-01

    This document provides financial data on the CEA for the year 2007. The management report (budget, resources, expenditures) and the accounting are detailed. The main management events of the year 2007 are presented. (A.L.B.)

  17. Rio 2016 financial statements

    OpenAIRE

    2015-01-01

    These documents include the report from independent auditors balance sheet, the statement of income, the statement of changes in equity, the statement of cash flows and the explanatory notes to the financial statements.

  18. Financial Services Industry

    National Research Council Canada - National Science Library

    Arezo, Gullab; Billingslea, Willie D; Brooks, James V; Brown, Jeffery D; Cotton, Cheryl; Determan, Deborah A; Dzurenko, Monte S; Egentowich, John; Greenwald, Michael N; Keegan, Matthew

    2006-01-01

    .... The financial services industry impacts the daily lives of all Americans. They rely on it to save for their retirement and their children's education, pay their bills, insure against risks, and buy their homes and automobiles...

  19. Enron: a financial Tchernobyl?

    International Nuclear Information System (INIS)

    Nicolet, J.L.; Alazard, C.; Charron, J.L.

    2004-01-01

    ENRON is almost more striking as an epitome, a model, than as a scandal. It is the perfect illustration of the occurrence of a major financial risk with strong contaminating repercussions. Close examination of the measures taken after this scandal, and the many other scandals (WorldCom, Vivendi etc.) which followed it, indicates that financial risk does not only, as might be imagined on more superficial analysis, take its roots in fraudulent behaviour. On the contrary, fraudulent behaviour appears merely to act as a catalyst. The authors suggest that a global approach integrating the concepts of industrial risk management provides a far more appropriate prism through which to interpret and develop effective controls for financial risks. After recalling the main facts, they apply the concepts of cindynics (the science of danger) to the Enron case and rapidly reach a first major conclusion: the financial system does not have its foundations in any reliable system of measurement. (authors)

  20. Financial report - Annex H

    International Nuclear Information System (INIS)

    Sotic, O.

    1988-01-01

    This Annex includes financial report of the RA Reactor engineering group from 1987-1988. detailed data concerning operating and continual and investment maintenance costs, amortization related to the reactor, fuel elements and heavy water [sr

  1. Financial report - Annex H

    International Nuclear Information System (INIS)

    Sotic, O.

    1986-01-01

    This Annex includes financial report of the RA Reactor engineering group from 1981-1985. detailed data concerning operating and continual and investment maintenance costs, amortization related to the reactor, fuel elements and heavy water [sr

  2. Iceland's Financial Crisis

    National Research Council Canada - National Science Library

    Jackson, James K

    2008-01-01

    .... The collapse of the banks also raises questions for U.S. leaders and others about supervising banks that operate across national borders, especially as it becomes increasingly difficult to distinguish the limits of domestic financial markets...

  3. FINANCIAL CRISES AND TURKEY

    Directory of Open Access Journals (Sweden)

    MERT URAL

    2013-06-01

    Full Text Available Since the last three decades, in developed and developing counties the liberalization and openness efforts have been witnessed. However, financial liberalization attempts (both internal and external without having macroeconomic stability lead to financial crises in many developing countries. Macroeconomic instabilities create fragile financial markets paving the way for future economic crises. The Turkish Economy, completed the liberalization process with foreign trade liberalization in 1980 and by removing controls on capital accounts in 1989. However, since 1990’s economy got into ‘growth-instability-crisis’ vicious circle, because of the fluctuations in the financial structure. By employing a factor analysis (principal components analysis, this work, aims to obtain the factors that effect crises in Turkey.

  4. Financial Resources of NGOs

    Directory of Open Access Journals (Sweden)

    Nicoleta Ciucescu

    2012-12-01

    Full Text Available Due to the low funding levels registered in recent years in the NGO sector in Romania, many NGOs have faced a number of difficulties, some of them have ceased to carry on business. Financial position of the governmental sector is poor, especially for large organizations that are strictly dependent on foreign funds. For the good functioning of NGOs activity, it is requiring a constant concern for finacial fundraising. The article aims to present the diversity of financial resources of NGOs.

  5. Financial Reporting Through IFRS

    OpenAIRE

    Doina Maria Tilea; Vasile Bleotu; Alexandra Ana Maria Serban

    2013-01-01

    Financial reporting using the latest version of IFRS (2011), a result of the IASB research in cooperation with the standardizers of the national accounting standards in order to achieve convergence in accounting standards around the world on the one hand, and on the other hand to provide a set of highly qualitative global accounting standards, requires transparent and comparable information of general purpose financial statements.

  6. Nuclear financial risk

    International Nuclear Information System (INIS)

    Heising, C.D.; George, V.P.

    1986-01-01

    This study examines the economy-wide financial risk associated with reactor accidents as a result of various regulatory response options that might be imposed after a serious accident, including partial or complete nuclear moratoria. The authors find that such risks may be two to three times greater than the plant-specific financial risk estimates that have previously been calculated by others (ie 500 million (1985) dollars per reactor year versus 5 to 50 million dollars). (author)

  7. Chaotic Financial Tornadoes

    Science.gov (United States)

    Jakimowicz, Aleksander

    In contemporary economies classic business cycles are increasingly changing their form undergoing a transformation into phenomena that have been nicknamed financial tornados. A generalization of the Lotka-Volterra model can be used to describe these fast-changing processes. Economically speaking, the most useful are such dynamical systems in which wormholes appear. This article features application of a model with one population of prey and two populations of predators in order to explain the global financial crisis and the consequent phenomena.

  8. First half financial report

    International Nuclear Information System (INIS)

    2003-01-01

    Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)

  9. Vector financial rogue waves

    International Nuclear Information System (INIS)

    Yan, Zhenya

    2011-01-01

    The coupled nonlinear volatility and option pricing model presented recently by Ivancevic is investigated, which generates a leverage effect, i.e., stock volatility is (negatively) correlated to stock returns, and can be regarded as a coupled nonlinear wave alternative of the Black–Scholes option pricing model. In this Letter, we analytically propose vector financial rogue waves of the coupled nonlinear volatility and option pricing model without an embedded w-learning. Moreover, we exhibit their dynamical behaviors for chosen different parameters. The vector financial rogue wave (rogon) solutions may be used to describe the possible physical mechanisms for the rogue wave phenomena and to further excite the possibility of relative researches and potential applications of vector rogue waves in the financial markets and other related fields. -- Highlights: ► We investigate the coupled nonlinear volatility and option pricing model. ► We analytically present vector financial rogue waves. ► The vector financial rogue waves may be used to describe the extreme events in financial markets. ► This results may excite the relative researches and potential applications of vector rogue waves.

  10. Can preapproval jump-start the allowance market

    Energy Technology Data Exchange (ETDEWEB)

    Dudek, D.J.; Goffman, J.

    1992-06-01

    With compliance deadlines approaching in three years, utility, environmental and financial planners and their regulators are in the process of grappling with the requirements imposed, and opportunities created, by the acid rain program established under Title 4 of the Clean Air Act amendments of 1990. The novel element of the program - emissions or allowance trading through a nationwide allowance market - presents great challenges for utilities and their regulators. Perhaps the foremost challenge is establishing the allowance market. If state utility commissions subject utilities' compliance strategies to traditional after-the-fact prudence reviews, as tradition would impel them to do, the attendant regulatory risks are likely to push utilities toward more conservative compliance schemes that underuse allowance trading (as the exchange at the head of this article demonstrates). If that happens, the market will fail to develop, and its full potential for environmental benefit at least cost will go unrealized. This, in turn, is likely to strengthen the case for non-market regulatory mechanisms - a vicious circle. In this paper, the authors suggest a way out of this.

  11. Can preapproval jump-start the allowance market?

    International Nuclear Information System (INIS)

    Dudek, D.J.; Goffman, J.

    1992-01-01

    With compliance deadlines approaching in three years, utility, environmental and financial planners and their regulators are in the process of grappling with the requirements imposed, and opportunities created, by the acid rain program established under Title 4 of the Clean Air Act amendments of 1990. The novel element of the program - emissions or allowance trading through a nationwide allowance market - presents great challenges for utilities and their regulators. Perhaps the foremost challenge is establishing the allowance market. If state utility commissions subject utilities' compliance strategies to traditional after-the-fact prudence reviews, as tradition would impel them to do, the attendant regulatory risks are likely to push utilities toward more conservative compliance schemes that underuse allowance trading (as the exchange at the head of this article demonstrates). If that happens, the market will fail to develop, and its full potential for environmental benefit at least cost will go unrealized. This, in turn, is likely to strengthen the case for non-market regulatory mechanisms - a vicious circle. In this paper, the authors suggest a way out of this

  12. Financial Coaching's Potential for Enhancing Family Financial Security

    Science.gov (United States)

    Collins, J. Michael; Olive, Peggy; O'Rourke, Collin M.

    2013-01-01

    Financial coaching is an emerging complement to financial education and counseling. As defined in this article, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching is designed to help participants bridge the…

  13. Financial Literacy as the Foundation for Individual Financial Behavior

    Science.gov (United States)

    Dwiastanti, Anis

    2015-01-01

    Research that is dealing with financial literacy turns to be such an important thing to be conducted. It is due to the fact that financial literacy level of Indonesian society is still very low. A good financial literacy is necessary for every individual to manage his/her finances to achieve prosperity. To have a good level of financial literacy,…

  14. Late Financial Distress Process Stages and Financial Ratios

    DEFF Research Database (Denmark)

    Sormunen, Nina; Laitinen, Teija

    2012-01-01

    stage affects the classification ability of single financial ratios and financial distress prediction models in short-term financial distress prediction. The study shows that the auditor's GC task could be supported by paying attention to the financial distress process stage. The implications...... of these findings for auditors and every stakeholder of business firms are considered....

  15. East Asian Financial Cycles: Asian vs. Global Financial Crises

    OpenAIRE

    Akira Kohsaka; Jun-ichi Shinkai

    2014-01-01

    We examine the role of financial shocks in business cycles in general and in financial crises in particular in East Asia (Indonesia, Korea, Malaysia and Thailand) since the 1990s. Estimating a Financial Conditions Index, we found that financial shocks explain most of business downturns in all the economies in the Asian Financial Crisis (AFC) in 1997-98, but that the effects of financial shocks are diverse across economies in the Global Financial Crisis (GFC) in 2008-09. In the GFC, the financ...

  16. THE FINANCIAL SECTOR IN THE FINANCIAL SYSTEM ECONOMY: THEORETICAL ASPECTS

    Directory of Open Access Journals (Sweden)

    Yu. Kovalenko

    2015-06-01

    Full Text Available Broad and narrow approaches of the financial system are obtained. The difference between the financial system and the financial sector (the fi-nancial corporations sector is shown. Organizational and institutional matrix of the financial system of the economy is proposed. Key positions of institutional sectors classification of Ukraine’s economy are analyzed, as well as the System of National Accounts with respect to the financial sec-tor of corporations. The structure of the sector of financial corporations in Ukraine is defined.

  17. Financial Analysis of the Financial Institutions Sector in Kosovo

    Directory of Open Access Journals (Sweden)

    Vlora Prenaj

    2015-12-01

    Full Text Available Paper work “Financial analysis of the financial institutions sector in Kosovo” treats financial sector in Kosovo. Paper work contains the current position of the economy, economic prospects and macroeconomic projections for the financial sector in Kosovo, future potential and possibilities of financial sector in Kosovo. The main goal of this research is financial analysis of Kosovo financial institutions sector - overview of key indicators. This research evaluates the performances of commercial bank’s profitability, which have operated in the market during the period 2006-2012. This research is conducted through financial analysis coefficients: Return on Equity, Return on assets and Cost to Income. Test t-Student is used to analyze the profitability for the period 2006/2007 before the financial crisis and the period 2011/2012 after financial crisis.

  18. Evaluating a Financial Assessment Tool: The Financial Checkup

    OpenAIRE

    Johnson, Alena C.

    2001-01-01

    The purpose of this study was to evaluate The Financial Checkup program. The program consisted of a booklet called The Financial Checkup and a 1-1 y, hour workshop explaining the booklet. The booklet helps individuals evaluate their financial situation on an annual basis. It includes a net worth statement, an income and expense statement, financial ratios, a revolving savings worksheet, a retirement worksheet, a life insurance worksheet, a financial goals worksheet, and a budget worksheet. Th...

  19. Framework for financial ratio analysis of audited federal financial reports

    OpenAIRE

    Brady, Richard T.

    1999-01-01

    Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...

  20. Financial integration and financial development in transition economies: What happens during financial crises?

    Directory of Open Access Journals (Sweden)

    Igor Masten

    2011-12-01

    Full Text Available

    This paper provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing “normal times” from periods of financial crises. In addition to confirming the significant positive effect on growth exerted by financial development and financial integration, our estimates show that a higher degree of financial openness tends to reduce the contractionary effect of financial crises, by cushioning the effect on the domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not necessarily increase their financial fragility. This implies that financial protectionism is a self-defeating policy, at least for transition countries.

  1. Energy Investment Allowance. Energy List 2000

    International Nuclear Information System (INIS)

    2000-01-01

    The title regulation (EIA, abbreviated in Dutch) offers entrepreneurs in the Netherlands financial incentives to invest in energy efficient capital equipment and renewable energy. Minimal 40% of the investment costs with a maximum of 208 million Dutch guilders can be deducted from fiscal profits. For one or more years less income tax or corporation taxes have to be paid. In this brochure it is outlined what the EIA means and how it can be used. The Energy List contains brief descriptions of examples of different energy efficient options that can be applied to qualify for the EIA

  2. RURAL FINANCIAL MARKETS: AN OVERVIEW

    OpenAIRE

    Spio, Kojo; Groenewald, Jan A.

    1997-01-01

    The paper seeks to present an in depth overview of rural financial markets in developing countries. Attention is given to the role of financial markets in the development process, approaches to rural finance in developing countries, and formal and informal financial markets. The pro and cons of the various financial markets were also considered.

  3. ICAF Financial Services Industry Study

    Science.gov (United States)

    2005-06-01

    Mishkin , Frederic S. and Stanley G. Eakins. Financial Markets + Institutions . Boston, MA: Addison Wesley. 2003... Financial Markets , Federal Reserve Bank of New York, 1998. Mishkin , Frederic S. and Eakins, Stanley G., Financial Markets + Institutions , Fourth...discussion of the industry would be complete without an understanding of the concept of moral hazard in the financial markets . According to Mishkin

  4. Application of the System Approach to Financial Services Market Research

    Directory of Open Access Journals (Sweden)

    Dubyna Maksym V

    2016-08-01

    Full Text Available The article analyzes the nature of the financial services market by using the system approach methodology. In particular, the attention is focused on the already existing conceptual approaches to defining the nature of this market, their basic aspects are analyzed. The use of the system approach allowed to identify the essence of the financial services market as a single, complex system, which is proposed to be considered as an aggregate number of consumers and providers of financial services operating within a single economic space, their relationships emerging to meet different in their nature demands for financial services, with their interrelation being associated with movement of financial resources within this space and partially accompanied by processes of transformation of temporary free funds of economic entities into credit and investment resources. In the article the system components and the relationships between them are determined, the elements of the environment are identified and their relationship with the market for financial services described.

  5. 42 CFR 61.8 - Benefits: Stipends; dependency allowances; travel allowances; vacation.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false Benefits: Stipends; dependency allowances; travel...; dependency allowances; travel allowances; vacation. Individuals awarded regular fellowships shall be entitled...) Stipend. (b) Dependency allowances. (c) When authorized in advance, separate allowances for travel. Such...

  6. 42 CFR 61.9 - Payments: Stipends; dependency allowances; travel allowances.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false Payments: Stipends; dependency allowances; travel... FELLOWSHIPS, INTERNSHIPS, TRAINING FELLOWSHIPS Regular Fellowships § 61.9 Payments: Stipends; dependency allowances; travel allowances. Payments for stipends, dependency allowances, and the travel allowances...

  7. CONSIDERATIONS REGARDING FINANCIAL STABILITY

    Directory of Open Access Journals (Sweden)

    MERCEA PATRICIA AMALIA

    2018-02-01

    Full Text Available International economic conditions are projected to have a favorable path in 2018. Thus, accelerating investment in infrastructure and real estate in China, as well as expectations of fiscal loosening in the United States, lead to an increased expectation for enhancement of global trade flows and to strengthen investor confidence. Instead, Britain's decision to leave the European Union, as well as political uncertainty in some euro-zone countries, may cause temporary distortions but also implications for economies in the european region. On the other hand, the divergence of the Federal Reserve and the European Central Bank's monetary policies, as the US expects further increases in interest rates, can be reflected in the activity of the government bond market as a result of the reorientation of investors to assets with higher yield, a trend amplified by the context of the economic environment with low interest rates. Recent developments in the field of financial technology innovation are an important challenge for conventional financial market (payment and settlement infrastructures, especially in the context of multiple public and private initiatives and projects developed over the last few years. The digitization of financial services is an international concern due to the complexity of this phenomenon, and the lack of harmonized regulations and / or standards in the field. On the one hand, technological innovation in the field of payment systems has the potential to create a number of social benefits by improving access to financial services (financial inclusion. On the other hand, the integration of new technologies in the financial and banking field may imply additional information security risks, especially on payment and settlement systems. Financial technology innovation projects have also been developed by central banks in Europe, but also in America and Asia (for example in the UK, the Netherlands, Sweden, Canada, China and India. They

  8. 33 CFR 136.235 - Compensation allowable.

    Science.gov (United States)

    2010-07-01

    ... allowable. The amount of compensation allowable is limited to the actual net reduction or loss of earnings or profits suffered. Calculations for net reductions or losses must clearly reflect adjustments for... available; (d) Any saved overhead or normal expenses not incurred as a result of the incident; and (e) State...

  9. 10 CFR 600.317 - Allowable costs.

    Science.gov (United States)

    2010-01-01

    ... to the type of entity incurring the cost as follows: (1) For-profit organizations. Allowability of costs incurred by for-profit organizations and those nonprofit organizations listed in Attachment C to... specifically authorized in the award document. (2) Other types of organizations. Allowability of costs incurred...

  10. 20 CFR 631.84 - Allowable projects.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Allowable projects. 631.84 Section 631.84... THE JOB TRAINING PARTNERSHIP ACT Disaster Relief Employment Assistance § 631.84 Allowable projects...) Shall be used exclusively to provide employment on projects that provide food, clothing, shelter and...

  11. 45 CFR 2541.220 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... accounting standards that comply with cost principles acceptable to the Federal agency. ... the grantee or subgrantee. (b) Applicable cost principles. For each kind of organization, there is a set of Federal principles for determining allowable costs. Allowable costs will be determined in...

  12. Balancing Responsibilities – Financial Literacy

    OpenAIRE

    Gail Pearson; Philip N Stoop; Michelle Kelly-Louw

    2017-01-01

    In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial li...

  13. Morocco; Financial System Stability Assessment

    OpenAIRE

    International Monetary Fund

    2003-01-01

    The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and the development of competition within the sector, development of financial markets, and removal of constraints on financial system activity. It also provides reports on the Observance of Standards and Co...

  14. FINANCIAL OUTCOME BETWEEN ACCOUNTING AND FISCALITY

    Directory of Open Access Journals (Sweden)

    Florentina Moisescu

    2015-05-01

    Full Text Available The tax result does not reflect the real financial performance of a company but rather shows a result of taxation which is to determine the size of tax for a company. Therefore, in Romanian accounting there are a lot of different ways which are used to obtain an `embellished` accounting result due to a large variety of accounting policies and methods which allows the company to choose the desired outcome. In our county, the main goal of an enterprise seems to be either the decrease of the financial result in order to avoid payment of a bigger tax to the state tax authority or the postponement of it, while companies from other countries want a financial result as big as possible so that they can attract investors.

  15. Does financial education impact financial literacy and financial behavior, and if so, when?

    OpenAIRE

    Kaiser, Tim; Menkhoff, Lukas

    2017-01-01

    A meta-analysis of 126 impact evaluation studies finds that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lowe...

  16. Dynamisms of Financialization

    DEFF Research Database (Denmark)

    Pedraza-Acosta, Isabel; Mouritsen, Jan

    2018-01-01

    and conditioned by calculative devices that mediate financialization processes? Drawing on a study of a French multinational corporation whose accounting devices – one concerning performance that requires suppliers to be ‘poor’ and another concerning risk that requires suppliers to be ‘rich’ – the article focuses......This article analyses the dominant ideological mode of rationality of financialization, its operationalization via accounting devices and deployments in political intra- and inter-organizational processes, and its dynamisms in global production networks. It asks how are political processes informed...... the suppliers went bankrupt, the multinational corporation was devoid of its industrial competencies. Financialization is ambiguous. Its devices are not inherently facilitative of systemic powers but reflect an ideological mode of rationality and political processes that produce overflows. The associated...

  17. ISSUERS OF FINANCIAL INSTRUMENTS

    Directory of Open Access Journals (Sweden)

    Cristian GHEORGHE

    2016-05-01

    Full Text Available The rules laid down by Romanian Capital Market Law and the regulations put in force for its implementation apply to issuers of financial instruments admitted to trading on the regulated market established in Romania. But the issuers remain companies incorporated under Company Law of 1990. Such dual regulations need increased attention in order to observe the legal status of the issuers/companies and financial instruments/shares. Romanian legislator has chosen to implement in Capital Market Law special rules regarding the administration of the issuers of financial instruments, not only rules regarding admitting and maintaining to a regulated market. Thus issuers are, in Romanian Law perspective, special company that should comply special rule regarding board of administration and general shareholders meeting.

  18. Financial Analysts’ Forecasts

    DEFF Research Database (Denmark)

    Stæhr, Simone

    . The primary focus is on financial analysts in the task of conducting earnings forecasts while a secondary focus is on investors’ abilities to interpret and make use of these forecasts. Simply put, financial analysts can be seen as information intermediators receiving inputs to their analyses from firm...... in the decision making and the magnitude of these constraints does sometimes vary with personal traits. Therefore, to the extent that financial analysts are subjects to behavioral biases their outputs to the investors are likely to be biased by their interpretation of information. Because investors need accuracy...... management and providing outputs to the investors. Amongst various outputs from the analysts are forecasts of earnings. According to decision theories mostly from the literature in psychology all humans are affected by cognitive constraints to some degree. These constraints may lead to unintentional biases...

  19. Financial Economy and Financial System: Basis of Structural Interconnection

    Directory of Open Access Journals (Sweden)

    Khorosheva Olena I.

    2014-02-01

    Full Text Available The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an aggregate of financial economies and financial market. The article justifies a necessity of expansion of boundaries of perception of the state financial economy, which is offered to include public financial economy of the state level and the set of financial economies of the state as a subject of economic activity. Such an approach forms a base for justification of the synthesis of participation of the state in financial relations as the owner and as the basic macro-economic regulator. Prospects of further study in this direction are: development of classification of financial economies; revelation of specific features of impact of shadow finance on development of the national financial economy; and assessment of possibilities of inclusion of structured financial products into the system of values of financial economies in Ukraine.

  20. FINANCIAL PERFORMANCE VERSUS NON FINANCIAL PERFORMANCE. CASE STUDY AT ANTIBIOTICE TRADING COMPANY IASI

    Directory of Open Access Journals (Sweden)

    Beleneºi Mãrioara

    2012-07-01

    Full Text Available The actual economical conditions, the effect of global crisis and the efforts to pass this turning point, does force trading companies toward an extremely balanced management of performance. Now, when financial indicators are neither so spectacular nor so relevant, and when the principles of a durable development are mentioned over and over, the exigencies of companies’ external environment are higher and higher. This reality does force the companies to pay more attention to social responsibilities’ assuming and investment into green innovation, as well as to the field of information’s communication in a relevant way, which should gather financial, social and environment information. The absence of a normalized balance of financial and non-financial indicators used in measuring companies’ global performance, does allow them selecting of “agreed” indicators which should reflect the company under the light of high performance. But, the same reason urges the searcher for some research studies of the most adequate diagnostic model of global performance, which should faithfully reflect company’s current status. The purpose of this study is to measure the global performance of ANTIBIOTICE Trading Company, taking into account, both financial and non-financial indicators for a period of 5 years. For the financial years 2006 and 2008 company’s global performance is an acceptable one, while for the financial years 2007, 2009 and 2010 the global performance is a medium one. It should be highlighted the lack of involvement or transparency regarding social and environment responsibility in 2006 and weak financial performance in 2008, indicators which positioned the company to an acceptable level.

  1. Utility allowed returns and market extremes

    International Nuclear Information System (INIS)

    Murry, D.A.; Nan, G.D.; Harrington, B.M.

    1993-01-01

    In recent years interest rates have fluctuated from exceptionally high levels in the early 1980s to their current levels, the lowest in two decades. Observers and analysts generally have assumed that allowed returns by regulatory commissions follow the movement of interest rates; indeed some analysts use a risk premium method to estimate the cost of common equity, assuming a constant and linear relationship between interest rates and the cost of common equity. That suggests we could expect a relatively stable relationship between interest rates and allowed returns, as well. However, a simple comparison of allowed returns and interest rates shows that this is not the case in recent years. The relationship between market interest rates and the returns allowed by commissions varies and is obviously a great deal more complicated. Empirically, there appears to be only a narrow range where market interest rates significantly affect the allowed returns on common stock set by state commissions, at least for electric and combination utilities. If rates are at historically low levels, allowed returns based largely on market rates will hasten subsequent rate filings, and commissions appear to look beyond the low rate levels. Conversely, it appears that regulators do not let historically high market rates determine allowed returns either. At either high or low interest levels, caution seems to be the policy

  2. Financial Institutes of Nanoindustry Development in Russia

    Directory of Open Access Journals (Sweden)

    Strukova Tatyana Vladimirovna

    2015-05-01

    Full Text Available At the present stage Russia’s nanoindustry can be formed on the basis of new and old specialized financial and non-financial institutes, which form a milti-layered structure providing targeted investments for innovative projects. The active state fiscal policy plays a decisive role in the national nanoindustry formation at different stages of its development and approval. The article substantiates the need for state regulation of the nanoindustry development funding mechanism in Russia. The author characterizes the main principles, subjects, methods, tools and sources of nanoindustrialization financial mechanism. The article presents the system of Russian financial institutes of development, allowing to identify the goals, objectives, forms and tools for implementation of the functions of each of them in the process of innovative development. The author reveals the essence, types, role and interests of development institutes in the process of public and public-private funding of national innovation system. The problems of innovative projects funding, caused by the specific features of the Russian economy are designated; a number of measures aimed at coordinating the activities of financial institutions and consolidating the public and private financial resources in priority sectors and industries of the economy is proposed. The author substantiates the necessity of building a mechanism of institutional, organizational and informational interaction of the federal target programs regulation bodies focused on the development of innovative activity system, federal executive bodies and exchange institutes, as well as the coordinating mechanism allowing to maximize the effectiveness of using methods and tools for innovation support.

  3. The future(s) of emission allowances

    International Nuclear Information System (INIS)

    Rosenzweig, K.M.; Villarreal, J.A.

    1993-01-01

    The Clean Air Act Amendments of 1990 (CAAA) established a sulfur dioxide emission allowance system to be implemented by the US Environmental Protection Agency (EPA). Under the two-phase implementation of the program, electric utilities responsible for approximately 70 percent of SO 2 emissions in the United States will be issued emission allowances, each representing authorization to emit one ton of sulfur dioxide during a specified calendar year or a later year. Allowances will be issued to utilities with electric-generating units affected by the CAAA limits, as well as to certain entities which may choose to opt-in to the program. Each utility or other emission source must hold a number of allowances at least equal to its total SO 2 emissions during any given year. Unused allowances may be sold, traded, or held in inventory for use against SO 2 emissions in future years. Anyone can buy and hold allowances, including affected utilities, non-utility companies, SO 2 allowances brokers and dealers, environmental groups, and individuals. During Phase I of the program, allowances equivalent to approximately 6.4 million tons of SO 2 emissions will be allocated annually to a group of 110 large, high-SO 2 -emitting power plants. In Phase II, virtually all power-generating utilities (representing approximately 99.4 percent of total US utility emissions) will be subject to the program. The number of allowances issued will increase to approximately 8.9 million a year, with certain special allocations raising the actual number issued to 9.48 million between the years 2000 to 2009, and 8.95 million yearly thereafter. Thus, the CAAA goal of annual emissions of 9 million tons should be achieved by 2010, when virtually all US emission sources will be participating in the program

  4. Keynes, family allowances and Keynesian economic policy

    OpenAIRE

    Pressman, Steven

    2014-01-01

    This paper provides a short history of family allowances and documents the fact that Keynes supported family allowances as early as the 1920s, continuing through the 1930s and early 1940s. Keynes saw this policy as a way to help households raise their children and also as a way to increase consumption without reducing business investment. The paper goes on to argue that a policy of family allowances is consistent with Keynesian economics. Finally, the paper uses the Luxembourg Income Study to...

  5. Regulating household financial advice

    Directory of Open Access Journals (Sweden)

    Benjamin F. Cummings

    2012-08-01

    Full Text Available This paper reviews economic theory related to investment advice. This theory explains 1 why financial advisors need to be carefully regulated for the benefit of both the investment advice industry and for consumers, 2 why principles-based regulation (e.g., a fiduciary standard is more efficient than rules-based regulation, 3 why dual regulation of financial professionals providing investment or insurance advice is inefficient and inequitable policy, and 4 why the application of a universal and uniform fiduciary standard will be difficult to implement.

  6. Linkages between financial development, financial instability, financial liberalisation and economic growth in Africa

    OpenAIRE

    Enowbi Batuo, M.; Mlambo, Kupukile; Asongu, Simplice

    2017-01-01

    In the aftermath of the 2008 global financial crisis, the implications of financial liberalisation for stability and economic growth has come under increased scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development. However, others emphasise the link between financial liberalisation is intrinsically associated with financial instability which may be harmful to economic growth and development. This study assesses ...

  7. Corporate Investments in Asian Emerging Markets: Financial Conditions, Financial Development, and Financial Constraints

    OpenAIRE

    Wang, Jianxin; Gochoco-Bautista, Maria Socorro; Sotocinal, Noli

    2013-01-01

    Motivated by the literature on the finance–growth nexus, this paper explores the mechanisms through which finance affects corporate investments and capital accumulation. We separate the effects of financial conditions from those of financial development. Based on a sample of firms from five Asian emerging economies, we find that (1) financial conditions and financial development affect corporate investments through different channels. Financial conditions affect firms' growth opportunities an...

  8. Maximum allowable load on wheeled mobile manipulators

    International Nuclear Information System (INIS)

    Habibnejad Korayem, M.; Ghariblu, H.

    2003-01-01

    This paper develops a computational technique for finding the maximum allowable load of mobile manipulator during a given trajectory. The maximum allowable loads which can be achieved by a mobile manipulator during a given trajectory are limited by the number of factors; probably the dynamic properties of mobile base and mounted manipulator, their actuator limitations and additional constraints applied to resolving the redundancy are the most important factors. To resolve extra D.O.F introduced by the base mobility, additional constraint functions are proposed directly in the task space of mobile manipulator. Finally, in two numerical examples involving a two-link planar manipulator mounted on a differentially driven mobile base, application of the method to determining maximum allowable load is verified. The simulation results demonstrates the maximum allowable load on a desired trajectory has not a unique value and directly depends on the additional constraint functions which applies to resolve the motion redundancy

  9. Analysis of enterprise financial liquidity on the example of the confectioner's trade

    Directory of Open Access Journals (Sweden)

    Zbigniew Gołaś

    2009-01-01

    Full Text Available The article shows results of the analysis of the financial liquidity of enterprise on the example of Jutrzenka Partnership S.A., recorded on Stock Exchange/Securities Market in Warsaw. The analysis of financial liquidity was carried out for years 2000-2006 with use of the static, dynamic indicators and non-classic financial liquidity measures. The investigated partnership was characterised by well rounded level of financial liquidity in given time. However, the majority of the considered indicators show decreasing level of the financial liquidity, which is caused by stronger character of the financial liquidity management allowing generation of higher flow of income.

  10. 42 CFR 413.98 - Purchase discounts and allowances, and refunds of expenses.

    Science.gov (United States)

    2010-10-01

    ... financial management income. However, modern accounting theory holds that income is not derived from a... credit allowed on account of an overcollection. (c) Normal accounting treatment—Reduction of costs. All... are not income. If they are received in the same accounting period in which the purchases were made or...

  11. 34 CFR 675.45 - Allowable costs, Federal share, and institutional share.

    Science.gov (United States)

    2010-07-01

    ... education, financial self-help, and community service-learning opportunities. (3) Carry out activities in... 34 Education 3 2010-07-01 2010-07-01 false Allowable costs, Federal share, and institutional share. 675.45 Section 675.45 Education Regulations of the Offices of the Department of Education (Continued...

  12. Increasing Financial Security

    Science.gov (United States)

    Kiss, Elizabeth

    2006-01-01

    Earning, spending, saving and investing, and using credit are important aspects of money management that teens need to understand as they move into adulthood. Family and consumer sciences (FCS) professionals have a long history of addressing this important life skill. This brief article describes the High School Financial Planning Program (HSFPP),…

  13. Fighting the Financial Crisis

    DEFF Research Database (Denmark)

    Hull Kristensen, Peer

    2015-01-01

    This paper is concerned to show how the Danish political elite interpreted and responded to the consequences of the 2008 financial crisis for the Danish economy. In particular, the paper describes how this interpretive construction focused primarily on three features of the Danish context to the ...

  14. International Financial Reporting Standards

    DEFF Research Database (Denmark)

    Pontoppidan, Caroline Aggestam

    2011-01-01

    The advance of International Financial Reporting Standards (IFRS) across the globe has accelerated over the last few years. This is placing increasing demands on educators to respond to these changes by an increased focus on IFRS in the curricula of accounting students. This paper reviews a range...

  15. A Financial Marriage

    Institute of Scientific and Technical Information of China (English)

    LAN XINZHEN

    2010-01-01

    @@ Love is in the air as financial church bells ring,ushering in a bonding between CITIC Securities Co.Ltd.land Crédit Agricole S.A.(CASA).The Chinese company and the French bank are planning to establish a global investment bank and strategic brokerage alliance,said a memorandum of understanding signed by the two sides on May 3.

  16. Financial Giffen Goods

    DEFF Research Database (Denmark)

    Poulsen, Rolf; Rasmussen, Kourosh Marjani

    2008-01-01

    In the basic Markowitz and Merton models, a stock’s weight in efficient portfolios goes up if its expected rate of return goes up. Put differently, there are no financial Giffen goods. By an example from mortgage choice we illustrate that for more complicated portfolio problems Giffen effects do...

  17. Medical students' financial dilemma

    African Journals Online (AJOL)

    1991-05-18

    May 18, 1991 ... A study conducted at the University of Cape Town. R. P. COLBORN ... The financial position of 5th- and 6th-year medical students at the University of .... USA and the UK10,ll appear to have similar problems. Subjects and ...

  18. Financial Derivatives in China

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Francis Repka sees bright prospects for the future development of the financial derivatives market in China. Repka,Vice President of the Asian Bond Finance Department of Societe Generale, says the situation in France just after the birth of derivatives was very similar to the situation in China today.

  19. Issue of Financial Capability

    Science.gov (United States)

    Hasek, Roman; Petraskova, Vladimira

    2010-01-01

    For most people, including students, it is not easy to have a good grasp of the basic terms in the field of finance and of their interrelations, in particular due to the fact that the offer for financial products keeps changing and its statement is frequently unclear, insincere and confusing. The Pedagogical Faculty of the University of South…

  20. Consolidated financial statements

    OpenAIRE

    Blaha, Miroslav

    2010-01-01

    This work provides basic information about consolidation and consolidated financial statements. In the beginning there are definisions of the members of the group under discussion and their relationship. Hereafter concepts of consolidation, accounting methods and methods of consolidation are discussed. It also compares approach of different accounting systems to consolidation.

  1. Consumer financial behavior

    NARCIS (Netherlands)

    van Raaij, W.F.

    2014-01-01

    Consumer financial behavior is a domain between micro-economics, behavioral finance, and marketing. It is based on insights and behavioral theories from cognitive, economic, and social psychology (biases, heuristics, social influences), in the context of and sometimes in conflict with micro-economic

  2. EFFECTS OF THE GLOBAL FINANCIAL CRISIS IN THE BANKING SYSTEM OF KOSOVO

    OpenAIRE

    Myrvete Badivuku-Pantina; Anera Alishani

    2012-01-01

    Financial crises are phenomena that happened before and continue to happen even nowadays. There were many financial crises in the last century, starting with the Great Depression of 1929 and continuing with other financial crisis, and it was believed that people would learn from their previous experiences and would not allow the crisis to happen again. But the financial crisis of 2007, created the impression that no one wanted to learn for the real causes of their occurrence and consequences,...

  3. Economic Analysis in the System of Financial Planning of Forestry Enterprises

    Directory of Open Access Journals (Sweden)

    Ievdokymov Viktor V.

    2017-12-01

    Full Text Available The aim of the article is to develop organizational and methodological provisions of economic analysis of forestry enterprises’ financial plans as a result of financial planning. The importance of financial planning as a basis for developing managerial decisions regarding the financial potential is substantiated. The characteristic of the development stages and the importance of financial potential in countries of the world is given. The stages of forecasting as the basis of enterprises’ financial plans are considered. The composition of the subsystems, methods and functions of financial planning highlighted in the scientific literature is investigated. The place of economic analysis in financial planning and in the system of financial planning of an enterprise’s economic activity is determined. There identified the directions of information disclosure in a financial plan: formation of financial results, budget settlements, cash flow, capital investments, ratio analysis, financial status, breakdown of individual items. The prospect for further research is to determine the order of applying the analytical procedures for each of these directions of economic analysis to justify the application of the analytical procedures for assessing financial potential on the basis of financial plans of forestry enterprises. This will allow to create information space for managing the financial potential of a forestry enterprise to achieve its tactical and strategic goals.

  4. Financial literacy: an interface between financial information and ...

    African Journals Online (AJOL)

    D.G. Gouws is in the School of Financial Management Sciences, University of Pretoria, and Ms ... connection between the financial numbers and the real business world context. ...... The Origin of Wealth: Evolution, Complexity, and the Radical.

  5. The role of 'financial myths' in financial crises

    OpenAIRE

    Eric S. Rosengren

    2011-01-01

    Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Boston University conference on The State of Financial Reform (panel on Lessons Learned from the Global Financial Meltdown), February 28, 2011, Boston, Massachusetts

  6. APPLICATION OF FINANCIAL ETHICS IN ANNUAL FINANCIAL REPORTING OF BANKS

    Directory of Open Access Journals (Sweden)

    Ayuba A. Aminu

    2016-03-01

    Full Text Available The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities.

  7. Effect of Financial Stress and Positive Financial Behaviors on Cost-Related Nonadherence to Health Regimens Among Adults in a Community-Based Setting.

    Science.gov (United States)

    Patel, Minal R; Kruger, Daniel J; Cupal, Suzanne; Zimmerman, Marc A

    2016-04-07

    Little is known about the role of positive financial behaviors (behaviors that allow maintenance of financial stability with financial resources) in mitigating cost-related nonadherence (CRN) to health regimens. This study examined the relationships between positive financial behaviors, financial stress, and CRN. Data came from the 2011 Speak to Your Health! Community Survey (n = 1,234). Descriptive statistics were computed to examine financial stress and CRN, by chronic condition and health insurance status. We used multivariate logistic regression models to examine the relationship between positive financial behaviors and financial stress and their interaction on a composite score of CRN, controlling for health insurance status, educational level, age, marital status, number of chronic conditions, and employment status. Thirty percent of the sample engaged in CRN. Participants reported moderate financial stress (mean, 13.85; standard deviation [SD] = 6.97), and moderate positive financial behavior (mean, 8.84; SD = 3.24). Participants with employer-sponsored insurance, Medicaid, Medicare, the Genesee Health Plan, high blood pressure, asthma, and diabetes had the highest proportion of CRN. The relationship between financial stress and CRN was not significantly different between those who reported lower versus higher levels of positive financial behavior (P = .32). Greater financial stress was associated with a greater likelihood of CRN (odds ratio [OR] = 2.49; 95% confidence interval [CI], 2.08-2.99). Higher level of positive financial behavior was associated with a lower likelihood of CRN (OR = 0.80; 95% CI, 0.67-0.94). Financial literacy as a means of promoting positive financial behavior may help reduce CRN. An intervention strategy focused on improving financial literacy may be relevant for high-risk groups who report high levels of financial stress.

  8. Financial Literacy and Financial Education: Review and Policy Implications

    OpenAIRE

    Annamaria Lusardi

    2006-01-01

    In recent years, as workers have gained an unprecedented degree of control over their pensions and savings, the importance of financial literacy and financial education has increased considerably. Large changes in the structure of financial markets, labor markets, and demographics in developed countries have led to this change. Consumers have a bewildering array of complex financial products – from reverse mortgages to annuities – to choose from, making saving decisions increasingly complex. ...

  9. Personal Financial Literacy and Financial Planning in Klang Valley, Malaysia

    OpenAIRE

    Hoe, Siew Yee

    2008-01-01

    The financial planning industry in Malaysia is still very much at its inception stage. Currently, regulators- Bank Negara Malaysia and Securities Commission of Malaysia have started to regulate the industry by imposing requirements for whoever wanted to venture into the financial planning profession. The title of ‘Financial Planner’ is now highly legalized by the authorities. Empirical studies have been done by overseas scholars and found that the lack of personal financial literacy has been ...

  10. Materiality from financial towards non-financial reporting

    OpenAIRE

    Chiara Mio

    2013-01-01

    The article aims at discussing the evolution of the concept of materiality in financial and, more specifically, non-financial reporting. Materiality will play a central role in the next years in order for reports to reach conciseness, which is at present one of the main goals both financial and non-financial reporting (in particular Integrated Reporting) aims to achieve. The article reviews the most relevant materiality frameworks and definitions and provides further insights for the advancem...

  11. Enhancing Financial Security in Agricultural Business: Financial and Property Aspects

    OpenAIRE

    Yuliya Bezdushna

    2014-01-01

    The article provides the analysis of information support for the developing agrarian businesses financial security activities. The impact of financial statements on financial security has been proved through generalization procedure of such calculating indicators as operating margin, return on assets, total liquidity ratio and financial autonomy ratio. A causal effect between mass underestimation of operating fixed assets in accounting and inflated profitability rates in agribusinesses operat...

  12. Systematization of falsification risk factors in financial statements: accounting aspect

    Directory of Open Access Journals (Sweden)

    N.О. Mizyakina

    2016-12-01

    Full Text Available The presence of false information in the financial statements significantly undermines the confidence of investors and creditors of a company. This necessitates finding and identifying risk factors for falsifying financial statements. Risk factors for financial statements falsification are various and there are different approaches to their classification. It is found out that there is the problem on the clear separation of the concept "creative accounting" (which allows to present a company in the best light for investors and creditors within the law and the concept "falsification of financial statements indicators", which undermines confidence and causes million expenditures of investors and creditors. The article determines the main reasons and factors that lead to the falsification of enterprise’s financial statements. The study suggests the approaches to the classification of risk factors for falsifying financial statements, including those, which have a direct or indirect impact on the reporting. The classification of risk factors for falsifying financial statements is necessary to systematize falsification risks of financial statements in order to minimize them and avoid them during the process of formation of financial reporting indicators.

  13. Emission allowances -- Long-term price trend

    International Nuclear Information System (INIS)

    Lennox, F.H.

    1994-01-01

    Estimated trends in emission allowance (EA) values have been of interest to all those affected by the Clean Air Act Amendments of 1990 since it became law in 1990. The authors published estimates of the values of EAs in December 1991, and revised their estimate in November 1992. The summary trends of the 1992 estimate is shown here. General estimates such as these are no longer useful. Everyone directly involved in complying with the Act or in buying and selling allowances has developed their own outlook on EA values. Many recent trades have been publicized. The prices from the first auction are also well known. Therefore this article is concerned only with what might happening the long-run. Once Phase 2 compliance is essentially complete and emissions roughly match Emission Allowance allocations of some 9.8 million tons annually, what pressures will there be on prices? What will be the direction of values after Phase 2 is in balance?

  14. Financial Stress and Financial Counseling: Helping College Students

    Science.gov (United States)

    Britt, Sonya L.; Canale, Anthony; Fernatt, Fred; Stutz, Kristen; Tibbetts, Racquel

    2015-01-01

    This study had two distinct purposes. First, to determine the predictors of financial stress among college students who sought free peer-based financial counseling from a large Midwestern university (N = 675). Secondly, to determine the effectiveness of the particular financial counseling center from a subsample of those who sought help (N = 97).…

  15. Workplace Financial Education Facilitates Improvement in Personal Financial Behaviors

    Science.gov (United States)

    Prawitz, Aimee D.; Cohart, Judith

    2014-01-01

    Based on the life-cycle theory of consumption, this quasi-experimental study of 995 employees examined changes in financial behaviors following employee-needs-driven workplace financial education. Repeated-measures ANOVA compared participants and non-participants on perceived financial wellness and savings ratios; main effects indicated that both…

  16. Inmate Perceptions of Financial Education Needs: Suggestions for Financial Educators

    Science.gov (United States)

    Call, Lindsay Larson; Dyer, W. Justin; Wiley, Angela R.; Day, Randal D.

    2013-01-01

    Recently, national attention has turned to the need for increased financial education, particularly for low-income populations. Incarcerated individuals represent a growing low-income group with unique needs that could likely benefit from financial education. However, few studies have examined the specific financial education needs of inmates,…

  17. Financial Literacy and Financial Behaviour: Experimental Evidence from Rural Rwanda

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, E.H.; Lensink, Robert

    We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the new

  18. FINANCIAL INFORMATION, EFFECTS OF FINANCIAL INFORMATION ON ECONOMIC DECISION

    Directory of Open Access Journals (Sweden)

    TAK ISA

    2010-12-01

    Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.

  19. Financial Planners: Educating Widows in Personal Financial Planning

    Science.gov (United States)

    Korb, Brian R.

    2010-01-01

    Widows constitute a growing segment of the U.S. population; however, very little has been done to educate them on the basics of personal financial planning. The creation and implementation of financial planning education programs for widows can help them become more financially literate and free them from anxiety and fear. Interviews with eight…

  20. Tradable allowances in a restructuring electric industry

    International Nuclear Information System (INIS)

    Tschirhart, J.

    1999-01-01

    The SO 2 tradable allowance program has been introduced into an electric industry undergoing dramatic changes. Entry of nonutilities into the industry and the emergence of stranded costs are two major changes that are shown to have an impact on the market for allowances and the industry's incentives to switch to cleaner fuels. The degree of impact depends on the extent to which consumers bypass traditional utilities and buy from entrants, and on public utility commission policies regarding the recovery of stranded costs. In turn, the amount of stranded costs depends on fuel switching. The results follow from simulations of a two-utility model that illustrate the qualitative effects of changing policies

  1. Banks’ disclosure and financial stability (110KB)

    OpenAIRE

    Sowerbutts, Rhiannon; Zimmerman, Peter; Zer, Ilknur

    2013-01-01

    Inadequate public disclosure by banks contributed to the financial crisis. This is because investors, unable to judge the risks that banks are bearing, withdraw lending in times of systemic stress. This article presents quantitative indices which allow for the comparison of disclosure between banks and over time. Internationally, disclosure has improved since 2000, particularly around banks’ valuation methods and funding risk. However, more information alone is not sufficient to solve the pro...

  2. Financialization, Crisis and Commodity Correlation Dynamics

    OpenAIRE

    Annastiina Silvennoinen; Susan Thorp

    2010-01-01

    We study bi-variate conditional volatility and correlation dynamics for individual commodity futures and financial assets from May 1990-July 2009 using DSTCC-GARCH (Silvennoinen and Terasvirta 2009). These models allow correlation to vary smoothly between extreme states via transition functions driven by indicators of market conditions. Expected stock volatility and money manager open interest in futures markets are relevant transition variables. Results point to increasing integration betwee...

  3. Global financial crisis

    Directory of Open Access Journals (Sweden)

    MSc. Jusuf Qarkaxhija

    2011-03-01

    Full Text Available The most recent developments in economy are a clear indicator of many changes, which are a result of this high rate pacing, which also demonstrates as such. Market economy processes occur as a result of intertwining of many potential technological and human factors, thereby creating a system of numerous diver-gences and turbulences. Economics, a social science, is characteri-sed with movements from a system to another system, and is har-monized with elements or components which have impacted the development and application of economic policies as a result. This example can be illustrated with the passing from a commanded system (centralized to a self-governing (decentrali-zed system, while the movement from a system to another is known as transi-tion. Such transition in its own nature bears a number of problems of almost any kind (political, economic, social, etc., and is charac-terised with differences from a country to another. Financial crisis is a phenomenon consisting of a perception of economic policies and creation of an economic and financial stabi-lity in regional and global structures. From this, one may assume that each system has its own changes in its nature, and as a result of these changes, we have the crisis of such a system. Even in the economic field, if we look closely, we have such a problem, where development trends both in human and technological fields have created a large gap between older times and today, thereby crea-ting dynamics with a high intensity of action. If we dwell on the problem, and enter into the financial world, we can see that the so-called industrialized countries have made giant leaps in deve-lopment, while countries in transition have stalled in many fields, as a result of a high rate of corruption and unemployment in these countries, and obviously these indicators are directly connected, thereby stroking the financial system in these countries. Corruption is an element, which directly and indirectly

  4. Corporate Information Management Financial Statements

    National Research Council Canada - National Science Library

    Gimble, Thomas

    1995-01-01

    The audit objective was to determine whether the OASD(C31) methods for preparing FY 1996 CIM, general purpose financial statements will result in auditable and complete general purpose financial statements...

  5. Financial Management: An Organic Approach

    Science.gov (United States)

    Laux, Judy

    2013-01-01

    Although textbooks present corporate finance using a topical approach, good financial management requires an organic approach that integrates the various assignments financial managers confront every day. Breaking the tasks into meaningful subcategories, the current article offers one approach.

  6. Understanding Trust in Financial Services

    DEFF Research Database (Denmark)

    Hansen, Torben

    2012-01-01

    Although the financial crisis has elevated the interest for factors such as consumer financial healthiness, broad-scope trust, financial knowledge, and consumer relationship satisfaction, no existing model describes how these factors may influence consumer financial relationship trust...... healthiness, broad-scope trust, knowledge, and satisfaction positively affect narrow-scope trust in financial services. Furthermore, it is found that broad-scope trust negatively moderates the relationships between financial healthiness and narrow-scope trust and between satisfaction and narrow-scope trust....... This research extends prior research by developing a conceptual framework explaining how these constructs affect consumers' trust in their financial service provider. Based on two surveys comprising 764 pension consumers and 892 mortgage consumers, respectively, the results of this study indicate that financial...

  7. ICAF Financial Services Industry Study

    National Research Council Canada - National Science Library

    Allison, Douglas; Barry, Kevin; Beaver, Philip; Browne, Michael; Cubillos, Claudio; Hanger, Wallace; Kluchko, Luke; LaDue, Charles; McGhee, Michael; Mitsoff, Gregory

    2005-01-01

    .... The industry includes those firms that provide financial services to organizations or individuals, the government agencies that regulate the industry, and the markets that facilitate the exchange of financial assets...

  8. Financial Literacy Education for Women

    Science.gov (United States)

    Jarecke, Jodi; Taylor, Edward W.; Hira, Tahira K.

    2014-01-01

    Exploring the pedagogical approaches of four women's financial literacy education programs, this chapter provides an overview of trends and needs in financial education for women and offers pedagogical strategies for teaching women about finance.

  9. 10 CFR 440.18 - Allowable expenditures.

    Science.gov (United States)

    2010-01-01

    ... part for labor, weatherization materials, and related matters for a renewable energy system, shall not... beginning in calendar year 2010 and the $3,000 average for renewable energy systems will be adjusted... 10 Energy 3 2010-01-01 2010-01-01 false Allowable expenditures. 440.18 Section 440.18 Energy...

  10. 42 CFR 417.534 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... typical “provider” costs, and costs (such as marketing, enrollment, membership, and operation of the HMO... principles applicable to provider costs, as set forth in § 417.536. (2) The allowability of other costs is determined in accordance with principles set forth in §§ 417.538 through 417.550. (3) Costs for covered...

  11. 44 CFR 295.21 - Allowable compensation.

    Science.gov (United States)

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Allowable compensation. 295.21 Section 295.21 Emergency Management and Assistance FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT... no-cost crisis counseling services available in the community. FEMA will not reimburse for treatment...

  12. 38 CFR 21.260 - Subsistence allowance.

    Science.gov (United States)

    2010-07-01

    ... rehabilitation facility or sheltered workshop; independent instructor; institutional non-farm cooperative: Full...) VOCATIONAL REHABILITATION AND EDUCATION Vocational Rehabilitation and Employment Under 38 U.S.C. Chapter 31... rehabilitation program under 38 U.S.C. Chapter 31 will receive a monthly subsistence allowance at the rates in...

  13. 43 CFR 12.62 - Allowable costs.

    Science.gov (United States)

    2010-10-01

    ... uniform cost accounting standards that comply with cost principles acceptable to the Federal agency. ... COST PRINCIPLES FOR ASSISTANCE PROGRAMS Uniform Administrative Requirements for Grants and Cooperative... increment above allowable costs) to the grantee or subgrantee. (b) Applicable cost principles. For each kind...

  14. 20 CFR 632.37 - Allowable costs.

    Science.gov (United States)

    2010-04-01

    ... otherwise indicated below, direct and indirect costs shall be charged in accordance with 41 CFR 29-70 and 41... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Allowable costs. 632.37 Section 632.37 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR INDIAN AND NATIVE AMERICAN...

  15. Financial inclusion: Policies and practices

    OpenAIRE

    Thankom Arun; Rajalaxmi Kamath

    2015-01-01

    As a key enabler for development, financial inclusion is firmly placed on the agenda of most governments as a key policy priority. Against this background, this round table provides a global and regional perspective on the policies and practices of financial inclusion. Using macro data, the collection reveals the diversity in the efforts towards achieving financial inclusion and the need for a progressive approach in financial inclusion. Further to this, the round table provides the regional ...

  16. Malaysia; Financial Sector Stability Assessment

    OpenAIRE

    International Monetary Fund

    2013-01-01

    This assessment is a review of the financial environment of Malaysia. Like many other Asian countries, Malaysia experienced financial distress in the late 1990s, but the country’s policy reforms have moved it to a successful economy. A ten-year financial plan (2001–10) by Bank Negara Malaysia restructured the financial sector. Banks were well capitalized, household debts were strengthened, and securities and insurances were developed. Malaysia thus became the global center for Islamic finance...

  17. Gender issues of financial analysts

    OpenAIRE

    Jingwen Ge

    2013-01-01

    Increased attention has been drawn to the gender disparity in workplace. This dissertation is dedicated to provide sight to the gender issues in financial analysts. Profound literature reviews are conducted about gender issues and financial analysts, respectively in order to comprehend the existing gender concerns in the business world, and role and functions of financial analysts. Research proposals are described to answer the following question: whether women financial analysts are more lik...

  18. Liquidity management through financial planning

    OpenAIRE

    Kameníková Katarína

    2001-01-01

    One of the basic goals of financial management is to provide financial property and capital for running of the firm, as well as for its development, that means provide optimal firm´s liquidity.To improve liquidity is possible provide through various ways. In present time there is increasing importance of financial planning., where planning of liquidity presents one of its integral part. Therefore I deal in presented paper with possible liquidity improvement through calculation of financial pl...

  19. Financial Integration and Asset Returns

    OpenAIRE

    P Martin; H Rey

    2000-01-01

    The paper investigates the impact of financial integration on asset return, risk diversification and breadth of financial markets. We analyse a three-country macroeconomic model in which (i) the number of financial assets is endogenous; (ii) assets are imperfect substitutes; (iii) cross-border asset trade entails some transaction costs; (iv) the investment technology is indivisible. In such an environment, lower transaction costs between two financial markets translate to higher demand for as...

  20. The Geography of Financial Literacy

    Directory of Open Access Journals (Sweden)

    Christopher Bumcrot

    2013-07-01

    Full Text Available This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the extent to which differences in financial literacy can be explained by states’ demographic and economic characteristics. To assess financial literacy, five questions were added to the 2009 National Financial Capability Study, covering fundamental concepts of economics and finance encountered in everyday life: simple calculations about interest rates and inflation, the workings of risk diversification, the relationship between bond prices and interest rates, and the relationship between interest payments and maturity in mortgages. We constructed an index of financial literacy based on the number of correct answers provided by each respondent to the five financial literacy questions. The financial literacy index reveals wide variation in financial literacy across states. Much of the variation is attributable to differences in the demographic makeup of the states; however, a handful of states have either higher or lower levels of financial literacy than is explained by demographics alone. Also, there is a significant correlation between the financial literacy of a state and that state’s poverty level. The findings indicate directions for policy makers and practitioners interested in targeting areas where financial literacy is low.

  1. Financial literacy of university students

    OpenAIRE

    Rodrigues, Cristina S.; Vieira, Filipa Dionísio; Amaral, António Manuel Pereira da Silva; Martins, F. Vitorino

    2012-01-01

    The current financial crisis highlights real problems profoundly related to the level of financial knowledge. Some studies suggest that many individuals, including small business owners, do not have adequate financial skills to be able to handle their finances. The term "financial literacy" summarizes the set of knowledge, skills and attitudes necessary to enable recognition and understanding of the foundations of personal finance. Informed and literate individuals are able to make responsibl...

  2. Financial stability or economic stability?

    OpenAIRE

    Ana POPA; Laura GIURCA VASILESCU

    2010-01-01

    This paper is based on the dilemma: effect or cause in the analysis of the economic and financial crisis? The first finding of the study is that it has always been easier to consider that the mistakes from the financial field caused the economic crisis. Currently, in the European Union and Romania there is a concern for aggressive action against financial instability. The second finding is that the crisis phenomenon manifest synergetic, thus the deterioration in the macro and micro- financial...

  3. Financial management of construction contractors.

    OpenAIRE

    Lacaria, Chris J.

    1994-01-01

    The scope of this paper is to discuss the financial management of a construction contractor. This paper attempts to approach this subject in a logical and systematic way. It communicates the importance of financial analysis and planning along with cash planning and profit planning. This report is not intended to be an all inclusive discussion of financial management in construction. Contractor's Financial Management is an extremely important subject. It has been told ...

  4. Canada; Financial Sector Stability Assessment

    OpenAIRE

    International Monetary Fund

    2014-01-01

    This report discusses key findings of the Financial Sector Stability Assessment on Canada. Canada’s financial system successfully navigated the global financial crisis, and stress tests suggest that major financial institutions would continue to be resilient to credit, liquidity, and contagion risks arising from a severe stress scenario. Elevated housing prices and high household debt remain an area of concern, though targeted prudential and macroprudential measures are proving to be effectiv...

  5. Market liquidity and financial stability.

    OpenAIRE

    Crockett, A.

    2008-01-01

    Stability in financial institutions and in financial markets are closely intertwined. Banks and other financial institutions need liquid markets through which to conduct risk management. And markets need the back-up liquidity lines provided by financial institutions. Market liquidity depends not only on objective, exogenous factors, but also on endogenous market dynamics. Central banks responsible for systemic stability need to consider how far their traditional responsibility for the health ...

  6. VALUES OF THE EUROPEAN FINANCIAL SPACE

    Directory of Open Access Journals (Sweden)

    NICU DURET

    2011-04-01

    Full Text Available This paper aims to analyze the perspective of the European financial space which should allow the professional intermediaries – the credit establishments, the insurance companies or investment services, to propose their services to the entire community of customers. Actually, here are considered the traditional banking services, such as those that provide insurance, especially those relating to life insurance.The access to regulated markets, it takes place in the perspective of this financial space, especially after coming into circulation of Euro coin. It should be insight, that the access to these markets, often requires the using of intermediaries. We can not speak about the existence of the financial space, without the freedom of action of these professional intermediaries. Concerning the freedom of these services, we can say that they depend on the movement of capital, and the movement capital is engaged since the directive of May 11, 1966, and subsequently is required after the June 24, 1988 and was confirmed by the Maastricht Treaty. Thus, we can discuss about the liberty of movement of capital, through angle the coordination of national legislation in matters of banks, the insurance and the investment services through a significant number of directives adopted. Nowadays, the European financial space is overtake, the EU borders and the internationalization of operations is require the extensive possible legal framework of application, also all the directives issued in matters of banks and insurance are covered by Annex VIII of the Agreement on the European Financial Space. The agreement also provides the interdictions of restrictions or discrimination concerning the movements of capital. As a consequence, the study is approach both to aspects concerning the European financial space and the interdictictions of restrictions or discrimination concerning the movements of capital.

  7. DIAGNOSIS OF FINANCIAL EQUILIBRIUM

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2013-04-01

    Full Text Available The analysis based on the balance sheet tries to identify the state of equilibrium (disequilibrium that exists in a company. The easiest way to determine the state of equilibrium is by looking at the balance sheet and at the information it offers. Because in the balance sheet there are elements that do not reflect their real value, the one established on the market, they must be readjusted, and those elements which are not related to the ordinary operating activities must be eliminated. The diagnosis of financial equilibrium takes into account 2 components: financing sources (ownership equity, loaned, temporarily attracted. An efficient financial equilibrium must respect 2 fundamental requirements: permanent sources represented by ownership equity and loans for more than 1 year should finance permanent needs, and temporary resources should finance the operating cycle.

  8. Weathering the financial storm

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursson, Thórarinn G.

    2011-01-01

    The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly. In this ......The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly...... pegs outside EMU were hit particularly hard, while inflation targeting seemed to mitigate the crisis. Finally, we find some evidence suggesting a role for international real linkages and institutional credibility. Our key results are robust to various alterations in the empirical setup and we are able...

  9. Erecting a Sturdy Financial Structure.

    Science.gov (United States)

    West, Jeffrey J.

    1998-01-01

    Explanation of the technological setting in which college and university financial systems have developed is provided for financial officers, to aid in devising a plan for the chart of accounts and erecting an efficient, logical, flexible financial structure. Topics include software/hardware advances, understanding the demand for financial…

  10. MANIPULATION OF THE FINANCIAL STATEMENTS

    OpenAIRE

    Gulin Danimir

    2008-01-01

    An increase in concentration of quoted companies on a relatively small number of stock markets requires a better equalisation of financial reporting framework. Globalisation of financial markets requires harmonisation of financial standards. In 1998, an agreement between IOSCO (International Organisation of Securities Commission) and IASC (International Accounting Standards Committee) on application of International Accounting Standards on American stock exchanges was consequently reached. Si...

  11. Financial globalization and crises: overview

    NARCIS (Netherlands)

    Beck, T.; Claessens, S.; Schmukler, S.L.; Caprio, G.; Beck, T.; Claessens, S.; Schmukler, S.L.

    2013-01-01

    Financial globalization, the integration of countries with the global financial system, has increased substantially since the 1970s and particularly with more force since the 1990s. Financial globalization has shown to pose both benefits and risks to developed countries and developing countries

  12. Financial crisis and monetary policy

    NARCIS (Netherlands)

    Karatas, B.

    2014-01-01

    Written in the midst of the Global Financial Crisis, the goal of this dissertation is to investigate causes of financial crises in general in order to provide empirical evidence of the driving forces of various crises types. Specifically, this thesis analyses the most common types of financial

  13. Strategic Planning and Financial Management

    Science.gov (United States)

    Conneely, James F.

    2010-01-01

    Strong financial management is a strategy for strategic planning success in student affairs. It is crucial that student affairs professionals understand the necessity of linking their strategic planning with their financial management processes. An effective strategic planner needs strong financial management skills to implement the plan over…

  14. "Financial Bubbles" and Monetary Policy

    Science.gov (United States)

    Tikhonov, Yuriy A.; Pudovkina, Olga E.; Permjakova, Juliana V.

    2016-01-01

    The relevance of this research is caused by the need of strengthening a role of monetary regulators to prevent financial bubbles in the financial markets. The aim of the article is the analysis of a problem of crisis phenomena in the markets of financial assets owing to an inadequate growth of their cost, owing to subjective reasons. The leading…

  15. Financial Sector Assessment Update : Uganda

    OpenAIRE

    World Bank

    2005-01-01

    A joint International Monetary Fund-World Bank team conducted an assessment update of Uganda's financial system in connection with the Financial Sector Assessment Program (FSAP) in November, 2004. The purpose of the mission was to help the Ugandan authorities identify financial system strengths and weaknesses with a view to implementing an action plan to increase the system's contribution ...

  16. Communication impacting financial markets

    Science.gov (United States)

    Vitting Andersen, Jørgen; Vrontos, Ioannis; Dellaportas, Petros; Galam, Serge

    2014-10-01

    Since the attribution of the Nobel prize in 2002 to Kahneman for prospect theory, behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual investment behavior. Behavioral finance thereby ignores any interaction between participants. We introduce a socio-financial model (Vitting Andersen J. and Nowak A., An Introduction to Socio-Finance (Springer, Berlin) 2013) that studies the impact of communication on the pricing in financial markets. Considering the simplest possible case where each market participant has either a positive (bullish) or negative (bearish) sentiment with respect to the market, we model the evolution of the sentiment in the population due to communication in subgroups of different sizes. Nonlinear feedback effects between the market performance and changes in sentiments are taken into account by assuming that the market performance is dependent on changes in sentiments (e.g., a large sudden positive change in bullishness would lead to more buying). The market performance in turn has an impact on the sentiment through the transition probabilities to change an opinion in a group of a given size. The idea is that if for example the market has observed a recent downturn, it will be easier for even a bearish minority to convince a bullish majority to change opinion compared to the case where the meeting takes place in a bullish upturn of the market. Within the framework of our proposed model, financial markets stylized facts such as volatility clustering and extreme events may be perceived as arising due to abrupt sentiment changes via ongoing communication of the market participants. The model introduces a new volatility measure which is apt of capturing volatility clustering and from maximum-likelihood analysis we are able to apply the model to real data and give additional long term insight into where a market is

  17. Translation of Financial Statements

    OpenAIRE

    Dalthan Simas; Otavio De Medeiros

    2005-01-01

    This paper has the purpose of surveying and critically analyzing the effects of accounting procedures which are closely related to groups of companies operating multinationally. These are the methods for translation of financial statements, e.g. the Temporal and the Closing- rate Methods, as far as those methods are embodied in accounting standards which have been either recommended or adopted by countries such as the UK and US. We conclude that with regard to changing prices, General Price L...

  18. Emotion and financial markets

    OpenAIRE

    Lucy F. Ackert; Bryan K. Church; Richard Deaves

    2003-01-01

    Psychologists and economists hold vastly different views about human behavior. Psychologists contend that economists' models bear little relation to actual behavior. This view is supported by a large body of psychological research that shows that emotional state can significantly affect decision making. ; Economists, on the other hand, argue that psychological studies have no theoretical basis and offer little empirical evidence about people's decision-making processes. The reigning financial...

  19. Financial Statement Math

    OpenAIRE

    2007-01-01

    game tool Game Tool Interactive Media Element The purpose of this interactive exercise is to help you understand the math in the income statement and balance sheet., Give the proper mathematical computations in order to correctly prepare the income statement and the balance sheet.The exercise is divided into 3 parts: The income Statement, The Balance Sheet - Assets, The Balance Sheet - Liabilities, GB3050 Financial Reporting and Analysis

  20. Offshoring and financial markets

    OpenAIRE

    Battisti, Gianfranco

    2014-01-01

    During the 20th century all economic structures underwent the impact of two epochal phenomena, the communications revolution and the financialization of economy. As a consequence of the never ending technological progress, the first has repeatedly reduced the friction of distance, provoking a radical change in the map of locational advantages. The result was a new model of international distribution of production that projected its effects to the core of business management, triggering a disi...

  1. Financial Sector Assessment : Turkey

    OpenAIRE

    World Bank; International Monetary Fund

    2016-01-01

    The fundamental challenges confronting the Turkish financial system are to reduce dependence on external and foreign currency financing and to increase the maturity and diversity of funding instruments on which banks and firms depend. The long-standing shortfall of national savings to finance domestic investment, persistent elevated inflation, and bouts of exchange rate volatility have boosted reliance on foreign currency financing from international capital markets and have also inc...

  2. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects......: business entities, the transformation process, types of businesses, stakeholders, legislation, the annual report, the VAT system, double-entry bookkeeping, inventories, and year-end cast flow analysis....

  3. The US Financial Crisis

    DEFF Research Database (Denmark)

    Campbell, John L.

    2011-01-01

    Many comparative political economists hold that market performance depends on the presence of institutional complementarities. Some argue that when institutions reinforce similar incentives markets work best. Others disagree and argue that for markets to function well institutions must compensate...... for each other's shortcomings rather than reinforce each other's incentives. This paper uses evidence from the US financial crisis of 2008 to adjudicate this debate. It argues that different types of institutional complementarities are necessary in combination to ensure market stability and successful...

  4. Financial problems and cooperation

    Energy Technology Data Exchange (ETDEWEB)

    Izquierdo, J.

    1994-12-31

    For a Bank, an usual way to attract new clients is by offering better interest rates depending on the amount of money that the client deposits in an account: {open_quotes}The more money you have the higher interest rate you get{close_quotes}. For a company is also a common practice to offer their clients discounts connected with the number of units of the product they order: {open_quotes}The more you order, the lower price per unit you pay{close_quotes}. From these situations arises the possibility to take profit if the clients cooperate and join their money or their orders. Hence, we define a new class of cooperative games called Financial Games. We study basic properties and necessary conditions for a game to belong to this class of games and we define the concept of duality for Financial games. The core is always non-empty and, moreover, Financial games are always totally balanced. We look at some special amputations lying in the Core and we study the reduced game on the j{sup th} player at {rvec x} where x{sub j} = b{sub j} = v(N) {minus} v(N {minus} j).

  5. Financial aspects of decommissioning

    International Nuclear Information System (INIS)

    Chirica, T.; Havris, A.

    2003-01-01

    European Commission adopted recently two proposals of Directives designed to pave the way for a Community approach to the safety of nuclear power plants and the processing of radioactive waste. Nuclear safety cannot be guaranteed without making available adequate financial resources. With regard, in particular, to the decommissioning of nuclear facilities, the Directive defines the Community rules for the establishment, management and use of decommissioning funds allocated to a body with legal personality separate from that of the nuclear operator. In order to comply with the acquis communautaire, Romanian Government issued the Emergency Ordinance no. 11/2003 which set up the National Agency for Radioactive Waste (ANDRAD) and soon will be established the financial mechanism for raising the necessary funds. Societatea Nationala 'Nuclearelectrica' S.A. operates, through one of its branches, Cernavoda NPP Unit 1 and has to prepare its decommissioning strategy and to analyze the options to assure the financing for covering the future costs. The purpose of this paper is to clarify the financial systems' mechanisms to the satisfaction of the nuclear operator obligations, according to the disbursement schedule foreseen by decommissioning projects . The availability of cash to pay for all the decommissioning expenditure must be foreseen by setting up assets and establishing a suitable financing plan. The different practices of assets management shall be presented in this paper on the basis of the international experience. Some calculation samples shall be given as an illustration. (author)

  6. EDF - Quarterly Financial Information

    International Nuclear Information System (INIS)

    Trivi, Carole; Boissezon, Carine de; Hidra, Kader

    2014-01-01

    EDF's sales in the first quarter of 2014 were euro 21.2 billion, down 3.9% from the first quarter of 2013. At constant scope and exchange rates, sales were down 4.2% due to mild weather conditions, which impacted sales of electricity in France, gas sales abroad and trading activities in Europe. UK sales were nonetheless sustained by B2B sales due to higher realised wholesale market prices. In Italy, sales growth was driven by an increase in electricity volumes sold. The first quarter of 2014 also saw the strengthening of the Group's financial structure with the second phase of its multi-annual hybrid funding programme (nearly euro 4 billion equivalent) as well as the issue of two 100-year bonds in dollars and sterling aimed at significantly lengthening average debt maturity. 2014 outlook and 2014-2018 vision: - EDF Group has confirmed its financial objectives for 2014; - Group EBITDA excluding Edison: organic growth of at least 3%; - Edison EBITDA: recurring EBITDA target of euro 1 billion and at least euro 600 million in 2014 before effects of gas contract re-negotiations; - Net financial debt / EBITDA: between 2x and 2.5x; - Pay-out ratio of net income excluding non-recurring items post-hybrid: 55% to 65%. The Group has reaffirmed its goal of achieving positive cash flow after dividends, excluding Linky, in 2018

  7. A financial network perspective of financial institutions' systemic risk contributions

    Science.gov (United States)

    Huang, Wei-Qiang; Zhuang, Xin-Tian; Yao, Shuang; Uryasev, Stan

    2016-08-01

    This study considers the effects of the financial institutions' local topology structure in the financial network on their systemic risk contribution using data from the Chinese stock market. We first measure the systemic risk contribution with the Conditional Value-at-Risk (CoVaR) which is estimated by applying dynamic conditional correlation multivariate GARCH model (DCC-MVGARCH). Financial networks are constructed from dynamic conditional correlations (DCC) with graph filtering method of minimum spanning trees (MSTs). Then we investigate dynamics of systemic risk contributions of financial institution. Also we study dynamics of financial institution's local topology structure in the financial network. Finally, we analyze the quantitative relationships between the local topology structure and systemic risk contribution with panel data regression analysis. We find that financial institutions with greater node strength, larger node betweenness centrality, larger node closeness centrality and larger node clustering coefficient tend to be associated with larger systemic risk contributions.

  8. Super-allowed Fermi beta-decay

    International Nuclear Information System (INIS)

    Wilkinson, D.H.

    2005-01-01

    A final analysis of J π =0 + ->0 + super-allowed Fermi transitions yields vertical bar V ud vertical bar 2 =0.9500±0.0007; vertical bar V ud vertical bar 2 + vertical bar V us vertical bar 2 + vertical bar V ub vertical bar 2 =0.9999±0.0011 with the operational vector coupling constant G V */(-bar c) 3 =(1.15052±0.00021)x10 -5 GeV -2

  9. Making It Personal: Per Capita Carbon Allowances

    DEFF Research Database (Denmark)

    Fawcett, Tina; Hvelplund, Frede; Meyer, Niels I

    2009-01-01

    The Chapter highligts the importance of introducing new, efficient schemes for mitigation of global warming. One such scheme is Personal Carbon Allowances (PCA), whereby individuals are allotted a tradable ration of CO2 emission per year.This chapter reviews the fundamentals of PCA and analyzes its...... merits and problems. The United Kingdom and Denmark have been chosen as case studies because the energy situation and the institutional setup are quite different between the two countries....

  10. THE ACCOUNTING TREATMENT OF THE TOURISM UNIT’S FINANCIAL STATEMENTS IN AGREEMENT WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS

    Directory of Open Access Journals (Sweden)

    BOGDAN RĂVAŞ

    2011-01-01

    Full Text Available Financial statements should be presented on a going-concern basis unless management intends to liquidate the tourism unit or cease trading. If not presented on a going concern basis, the fact and rationale for not using it should be disclosed. Uncertainties related to events and conditions that cast significant doubt on the tourism unit's ability to continue as a going concern should be disclosed. The Statement of Financial Position provides information about the financial position of the tourism unit and it should distinguish between major categories and classifications of assets and liabilities current or noncurrent distinction. Departure from the requirements of an IFRS is allowed only in the extremely rare circumstance in which the application of the IFRS would be so misleading as to con-flict with the objectives of financial statements. In such circumstances, the tourism unit should disclose the reasons for and the financial effect of the departure from the IFRS.

  11. Financial Constrains for Innovative Firms: The Role of Size, Industry and ICT Uses as Determinants of Firms' Financial Structure

    Science.gov (United States)

    Castillo-Merino, David; Vilaseca-Requena, Jordi; Plana-Erta, Dolors

    This paper uses a large and original data set of Catalan firms in all the economic branches to analyse the effects of size, industry and degree of ICT uses on financial constraints for innovative firms. We have conducted a micro econometric analysis following Henry et al. (1999) investment model to empirically contrast the relationship between firms' investment spread over time and their financial structure, and we have used von Kalckreuth (2004) methodology, based on an original survey with data on financial issues. Our results show that it exits a positive and significant relationship between investment shift and financial structure, emerging financial constraints for more innovative firms. Furthermore, these constraints are higher for micro companies and firms within the knowledge-advanced services' industry. Finally, we have also found that advanced ICT uses by more innovative firms allow them to reduce constraints of access to sources of finance.

  12. An economic and financial exploratory

    Science.gov (United States)

    Cincotti, S.; Sornette, D.; Treleaven, P.; Battiston, S.; Caldarelli, G.; Hommes, C.; Kirman, A.

    2012-11-01

    This paper describes the vision of a European Exploratory for economics and finance using an interdisciplinary consortium of economists, natural scientists, computer scientists and engineers, who will combine their expertise to address the enormous challenges of the 21st century. This Academic Public facility is intended for economic modelling, investigating all aspects of risk and stability, improving financial technology, and evaluating proposed regulatory and taxation changes. The European Exploratory for economics and finance will be constituted as a network of infrastructure, observatories, data repositories, services and facilities and will foster the creation of a new cross-disciplinary research community of social scientists, complexity scientists and computing (ICT) scientists to collaborate in investigating major issues in economics and finance. It is also considered a cradle for training and collaboration with the private sector to spur spin-offs and job creations in Europe in the finance and economic sectors. The Exploratory will allow Social Scientists and Regulators as well as Policy Makers and the private sector to conduct realistic investigations with real economic, financial and social data. The Exploratory will (i) continuously monitor and evaluate the status of the economies of countries in their various components, (ii) use, extend and develop a large variety of methods including data mining, process mining, computational and artificial intelligence and every other computer and complex science techniques coupled with economic theory and econometric, and (iii) provide the framework and infrastructure to perform what-if analysis, scenario evaluations and computational, laboratory, field and web experiments to inform decision makers and help develop innovative policy, market and regulation designs.

  13. Financial inclusion: Policies and practices

    Directory of Open Access Journals (Sweden)

    Thankom Arun

    2015-12-01

    Full Text Available As a key enabler for development, financial inclusion is firmly placed on the agenda of most governments as a key policy priority. Against this background, this round table provides a global and regional perspective on the policies and practices of financial inclusion. Using macro data, the collection reveals the diversity in the efforts towards achieving financial inclusion and the need for a progressive approach in financial inclusion. Further to this, the round table provides the regional perspectives on the policies and practices of financial inclusion in India, South Africa, and Australia.

  14. College Students and Financial Distress: Exploring Debt, Financial Satisfaction, and Financial Anxiety

    Science.gov (United States)

    Archuleta, Kristy L.; Dale, Anita; Spann, Scott M.

    2013-01-01

    The impact of financial concerns on overall mental health has become a popular topic among researchers and practitioners. In this exploratory study, possible associations of financial anxiety were explored using a sample of 180 college students who sought services at a university peer financial counseling center in a Midwestern state. Of…

  15. Impact of Unbalanced Development of Economy on Financial Sector Stability

    Directory of Open Access Journals (Sweden)

    Kozlov Vladislav I.

    2013-11-01

    Full Text Available The article is devoted to the study of c connection between the stability of development of the financial sector and its share in the aggregate volume of production. The article conducts a comparative study of the countries that suffered the large-scale financial and economic crisis in 2007 (USA and Great Britain and countries economies of which turned out to be more stable (Czech Republic, Poland and Finland. In the course of the study the article marks out indicators that allow characterisation of the degree of balancing of economic development. The developed approach is applied for analysis of the Ukrainian economy in the pre-crisis period. Results of the study allow assertion that excessive growth of the financial sector increases the risk of realisation of financial and economic crises independent on the level of economic development of a country. The article develops an approach to assessment of the role of the financial sector in economy. It underlines important aspects of its application for analysing economies of developing countries. The article leaves a vast expanse for further studies and focuses on importance of monitoring of the state and development of the financial sector with consideration of the direction and rates of development of other sectors of economy. The obtained results justify the necessity of use of indicators that characterise structure of the national economy by financial sector control bodies.

  16. The Diversification Benefits of Including Carbon Assets in Financial Portfolios

    Directory of Open Access Journals (Sweden)

    Yinpeng Zhang

    2017-03-01

    Full Text Available Carbon allowances traded in the EU-Emission Trading Scheme (EU-ETS were initially designed as an economic motivation for efficiently curbing greenhouse as emissions, but now it mimics quite a few characteristics of financial assets, and have now been used as a candidate product in building financial portfolios. In this study, we examine the time-varying correlations between carbon allowance prices with other financial indices, during the third phase of EU-ETS. The results show that, at the beginning of this period, carbon price was still strongly corrected with other financial indices. However, this connection was weakened over time. Given the relative independence of carbon assets from other financial assets, we argue for the diversification benefits of including carbon assets in financial portfolios, and building such portfolios, respectively, with the traditional global minimum variance (GMV strategy, the mean-variance-OGARCH (MV-OGARCH strategy, and the dynamic conditional correlation (DCC strategy. It is shown that the portfolio built with the MV-OGARCH strategy far out-performs the others and that including carbon assets in financial portfolios does help reduce investment risks.

  17. The existence and persistence of household financial hardship

    OpenAIRE

    Brown, S.; Ghosh, P.; Taylor, K.

    2012-01-01

    We investigate the existence and persistence of financial hardship at the household level using data from the British Household Panel Survey. Our modelling strategy makes three important contributions to the existing literature on household finances. Firstly, we model nine different types of household financial problems within a joint framework, allowing for correlation in the random effects across the nine equations. Secondly, we develop a dynamic framework in order to model the persistence ...

  18. FINANCIAL INNOVATIONS IN THE STRATEGIC ANALYSIS OF BANK BUSINESS

    Directory of Open Access Journals (Sweden)

    A. N. Rasskazova

    2013-01-01

    Full Text Available In paper we identified the financial innovations in the strategic analysis of bank business. On the real data analytical research is executed and empirical proofs of practical applicability of the new financial performance, allowing to create the mechanism of strategic management by shareholder value in bank are received. The received results can be used for monitoring of acceptance of managerial decisions from the party and in interests of owners of bank

  19. Money matters: Rapid post-earthquake financial decision-making

    Science.gov (United States)

    Wald, David J.; Franco, Guillermo

    2016-01-01

    Post-earthquake financial decision-making is a realm beyond that of many people. In the immediate aftermath of a damaging earthquake, billions of dollars of relief, recovery, and insurance funds are in the balance through new financial instruments that allow those with resources to hedge against disasters and those at risk to limit their earthquake losses and receive funds for response and recovery.

  20. FASB's ASU 2011-7 changes financial statement reporting requirements.

    Science.gov (United States)

    Reinstein, Alan; Churyk, Natalie Tatiana

    2012-02-01

    FASB's new Accounting Standards Update 2011-07 will change how healthcare entities accumulate and report major portions of their financial statements, including patient revenues, net accounts receivables, and bad-debt expenses. Healthcare entities now must reclassify their provisions for bad debts associated with patient service revenue from an operating expense to a deduction from patient service revenue (net of contractual allowances and discounts). International Financial Reporting Standards do not require healthcare entities to comply with this new standard.

  1. THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

    OpenAIRE

    Ivanka Daneva

    2015-01-01

    Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.

  2. on International Financial Reporting Standards

    Directory of Open Access Journals (Sweden)

    Edyta Łazarowicz

    2016-07-01

    Full Text Available The article analyses and assesses proposals for changes concerning the objective of financial reportingbased on International Financial Reporting Standards (IFRS, presented in comments on the exposuredraft of the Conceptual Framework for Financial Reporting (2015. The majority of respondents thinkthat the objective of financial reporting should give more prominence to the importance of providinginformation about management’s stewardship. Moreover, some respondents suggest introducing thedefinition of stewardship into the Conceptual Framework and presenting implications of shifts in theobjective of financial reporting for the future standard setting and for preparing financial statements.Based on the analysis of comment letters and the review of accounting literature, the conclusion is thatthe objective of financial reporting should be changed. It is, however, disputable, if stewardship should bea separate object. There is too little research on the relation between the stewardship and decisionusefulnessobjectives. The findings of this research could show accounting standard-setters the potentialtrade-offs and conflicts between these objectives.

  3. Public health financial management competencies.

    Science.gov (United States)

    Honoré, Peggy A; Costich, Julia F

    2009-01-01

    The absence of appropriate financial management competencies has impeded progress in advancing the field of public health finance. It also inhibits the ability to professionalize this sector of the workforce. Financial managers should play a critical role by providing information relevant to decision making. The lack of fundamental financial management knowledge and skills is a barrier to fulfilling this role. A national expert committee was convened to examine this issue. The committee reviewed standards related to financial and business management practices within public health and closely related areas. Alignments were made with national standards such as those established for government chief financial officers. On the basis of this analysis, a comprehensive set of public health financial management competencies was identified and examined further by a review panel. At a minimum, the competencies can be used to define job descriptions, assess job performance, identify critical gaps in financial analysis, create career paths, and design educational programs.

  4. Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2013-09-01

    Full Text Available Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958 using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.

  5. Measuring financial performance: an overview of financial statements.

    Science.gov (United States)

    Dalsted, N L

    1995-07-01

    Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.

  6. Sulfur dioxide allowances. Trading and technological progress

    International Nuclear Information System (INIS)

    Kumar, Surender; Managi, Shunsuke

    2010-01-01

    The US Clean Air Act Amendments introduce an emissions trading system to regulate SO 2 emissions. This study finds that changes in SO 2 emissions prices are related to innovations induced by these amendments. We find that electricity-generating plants are able to increase electricity output and reduce emissions of SO 2 and NO x from 1995 to 2007 due to the introduction of the allowance trading system. However, compared to the approximate 8% per year of exogenous technological progress, the induced effect is relatively small, and the contribution of the induced effect to overall technological progress is about 1-2%. (author)

  7. Student financial support. An inventory in 24 European countries. Background report for the project on portability of student financial support

    OpenAIRE

    Vossensteyn, Johan J.

    2004-01-01

    This report provides a description of the current national systems of student financial support in 24 European countries. It provides information on tuition fees, grants, scholarships, student loans, and indirect student support through students families (family allowances and tax benefits) and support in kind in the form of subsidies for travel, accommodation, student restaurants etc. It forms a background report for the study on the extent to which student financial support can be used for ...

  8. What parents say about the allowance: Function of the allowance for parents of different economic incomes

    Directory of Open Access Journals (Sweden)

    Irani Lauer Lellis

    2012-06-01

    Full Text Available The practice of giving allowance is used by several parents in different parts of the world and can contribute to the economic education of children. This study aimed to investigate the purposes of the allowance with 32 parents of varying incomes. We used the focus group technique and Alceste software to analyze the data. The results involved two classes related to the process of using the allowance. These classes have covered aspects of the role of socialization and education allowance, serving as an instrument of reward, but sometimes encouraging bad habits in children. The justification of the fathers concerning the amount of money to be given to the children and when to stop giving allowance were also highlighted.   Keywords: allowance; economic socialization; parenting practices.

  9. Reconfiguring the Financial Markets

    Directory of Open Access Journals (Sweden)

    Ion Bucur

    2009-12-01

    Full Text Available The debut of the new millennium is marked by the increased economic and social imbalances. An important task of economic science is to identify the causes and factors that contributed to the radical transformation of the unfolding conditions of economic activity. The existence of different perspectives to approach the new realities may offer greater opportunities for decrypting the conditions that generated so far unknown developments, as well as for shaping solutions to promote new paths of progress and civilization. The defining with profound implications on the economy and society is represented by the globalization. From this perspective, we have analysed the new dimensions of capital accumulation and economic growth in the context of deregulation and liberalization of the international capital movements. In this context, we have noticed the increasing influence of the financial markets on the economy, the tendency to remove the finances from the real economy requirements, the growing role of external financing using more volatile capital goods, increased competition regarding the access to financing, the significant increase of power of the international capital markets whose characteristic is represented by the increased instability, the implications of the investors’ obsession with an excessive profitableness of their own funds and the expansion of using sophisticated financial products. Realities of today’s financial markets, which are the subject of numerous studies and analysis, have contributed to the association of the arguments that are contesting the thesis on the virtues of self-regulation markets and promoting a new paradigm, within which finances should subordinate the requirements of a balanced and sustained economic growth.

  10. Offshoring and financial markets

    Directory of Open Access Journals (Sweden)

    Gianfranco Battisti

    2014-06-01

    Full Text Available The paper analyses the nature and extent of the offshore world, a grey area that is playing a major role in present-day economy. The main institutions moulding this peculiar environment are discussed: preferential tax regimes, tax havens and offshore financial centers. Their role in the globalised world is outlined after a scrutiny of the specialized literature, reports by non-governmental bodies and companies’ advertisings. Finally, we present a tentative reconstruction of its geographical organization, inclusive of cartographic representations of the main international networks.

  11. Analyzing Chinese Financial Reporting

    Institute of Scientific and Technical Information of China (English)

    SABRINA; ZHANG

    2008-01-01

    If the world’s capital markets could use a harmonized accounting framework it would not be necessary for a comparison between two or more sets of accounting standards. However,there is much to do before this becomes reality.This article aims to pres- ent a general overview of China’s General Accepted Accounting Principles(GAAP), U.S.General Accepted Accounting Principles and International Financial Reporting Standards(IFRS),and to analyze the differ- ences among IFRS,U.S.GAAP and China GAAP using fixed assets as an example.

  12. Financial and Non Financial Factors on Going-Concern Opinion

    Directory of Open Access Journals (Sweden)

    Junaidi Junaidi

    2012-09-01

    Full Text Available Company's ability to survive is a fundamental uncertainty faced in the preparation and auditing financial statements. Provision of going-concern opinion on these financial statements the company is still being debated. Public Accountant Professional Standards in section 341 states that the auditor is responsible for evaluating whether there is a major doubt on the ability of entities in the continued survival of the appropriate period of time, not more than one year from the date of the financial statements being audited. This research analyzed the financial and non financial factors that affected the provision of going-concern opinion. This research used samples of 63 companies with 315 observations, taken from years 2005-2009. The logistic regression analysis showed that the company's financial condition variables, mitigating evidence, and disclosure significantly influence the acceptance of going-concern opinion. Enterprise risk was not significant at propensity of going-concern opinion.

  13. Adjustments to financial and social benefits

    CERN Document Server

    HR Department

    2009-01-01

    In accordance with decisions taken by the Finance Committee and Council in December 2008, certain financial and social benefits will be adjusted with effect from 1st January 2009. An increase of 2.7% will be applied to the scale of basic salaries and the scale of stipends paid to Fellows (Annexes R A 5 and R A 6 of the Staff Rules and Regulations, respectively). As a result of the evolution of the Geneva consumer price index, the following financial elements will increase by 3.2%: a) Family Allowance, Child Allowance and Infant Allowance (Annex R A 3 of the Staff Rules and Regulations) b) Payment of education fees: payment ceilings (Annex R A 4 of the Staff Rules and Regulations) for the academic year 2008/2009. As a result of the evolution of the Geneva consumer price index, adjustments will be applied to the subsistence allowances of Paid Associates and Students. The adjusted amounts are available in Departmental Secretariats. Human Resources Department Tel. 70674

  14. Genesis nature of financial strategy

    Directory of Open Access Journals (Sweden)

    O.V. Pashchenko

    2015-03-01

    Full Text Available The article is devoted to the study of the origin and history of the interpretation of the genesis of «strategy», «financial strategy», its elements and composite types. Scientists studied different views on the concept of strategy. Several specific positions founders of different approaches to define the strategy of schools operating strategies involved in the formulation and implementation of the concept of «strategy». Evaluation of different schools of strategies that deepened understanding of the industry and its strategy in the early stages of formation. Based on the works of various scholars studied by the author actually proposed interpretation of the concept strategy. The general industry and functional strategies which include the following strategies: innovation, resource, financial, production, marketing and human resources. Allocated financial strategy and its significant impact on other strategies. Author developed financial sector strategy and financial strategy of competitive enterprise. The importance of financial strategies under conditions of companies and the industry as a whole, as well as components of development of financial strategy. Deals with the factors that must be considered in the development and implementation of financial strategies. The systems analysis strategies and the impact on financial results, the estimation of their attractiveness and risk. Considered classification on the basis of financial strategies and sectoral orientation of the financial sector strategy based on company size, its form and noted the importance of this trait in systematizing strategies. The expediency of the financial strategy. Defined competitive advantage and efficiency of business and industry through the implementation of various financial strategies.

  15. Financial Statements in Providing Financial Security of Agricultural Enterprises

    OpenAIRE

    Olha Vdovenko

    2014-01-01

    In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...

  16. ORGANIZATION OF NON-BANK FINANCIAL INSTITUTIONS AND THEIR NEED FOR SUPERVISION

    Directory of Open Access Journals (Sweden)

    Medar Lucian-Ion

    2009-11-01

    Full Text Available In order to monitor lending operations, implicitly leading to an increase in money supply, and all financial and non-financial transactions, non-bank financial institutions allow empowered personnel of National Bank of Romania to examine their records, accounts and transactions, providing to this end all the documents and information concerning the management, internal control and operations of non-bank financial institutions, as will be required. Registered non-bank financial institutions carrying out monetary activities are legal persons reporting to the Credit Risk Control of National Bank of Romania, in compliance with the field regulations issued by the above mentioned bank.

  17. ORGANIZATION OF NON-BANK FINANCIAL INSTITUTIONS AND THEIR NEED FOR SUPERVISION

    Directory of Open Access Journals (Sweden)

    Lucian-Ion MEDAR

    2010-06-01

    Full Text Available In order to monitor lending operations, implicitly leading to an increase in money supply, and all financial and non-financial transactions, non-bank financial institutions allow empowered personnel of National Bank of Romania to examine their records, accounts and transactions, providing to this end all the documents and information concerning the management, internal control and operations of non-bank financial institutions, as will be required. Registered non-bank financial institutions carrying out monetary activities are legal persons reporting to the Credit Risk Control of National Bank of Romania, in compliance with the field regulations issued by the above mentioned bank.

  18. Financial Economy and Financial System: Basis of Structural Interconnection

    OpenAIRE

    Khorosheva Olena I.

    2014-01-01

    The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an ...

  19. Financial Management, Profile of the Air Force Financial Managers

    National Research Council Canada - National Science Library

    1997-01-01

    ... are confined to comparable organizations and financial management positions in the services. These positions most often include comptrollers, deputy comptrollers, and budget officers located at operational...

  20. 34 CFR 656.30 - What are allowable costs and limitations on allowable costs?

    Science.gov (United States)

    2010-07-01

    ... FOREIGN LANGUAGE AND AREA STUDIES OR FOREIGN LANGUAGE AND INTERNATIONAL STUDIES What Conditions Must Be... 34 Education 3 2010-07-01 2010-07-01 false What are allowable costs and limitations on allowable costs? 656.30 Section 656.30 Education Regulations of the Offices of the Department of Education...

  1. 40 CFR 82.8 - Grant of essential use allowances and critical use allowances.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 17 2010-07-01 2010-07-01 false Grant of essential use allowances and critical use allowances. 82.8 Section 82.8 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY... Albemarle Bill Clark Pest Control, Inc. Burnside Services, Inc. Cardinal Professional Products Chemtura Corp...

  2. 75 FR 14442 - Federal Travel Regulation (FTR); Relocation Allowances-Relocation Income Tax Allowance (RITA) Tables

    Science.gov (United States)

    2010-03-25

    ... GENERAL SERVICES ADMINISTRATION [GSA Bulletin FTR 10-04] Federal Travel Regulation (FTR); Relocation Allowances-- Relocation Income Tax Allowance (RITA) Tables AGENCY: Office of Governmentwide Policy... (73 FR 35952) specifying that GSA would no longer publish the RITA tables found in 41 CFR Part 301-17...

  3. 76 FR 32340 - Federal Travel Regulation; Temporary Duty (TDY) Travel Allowances (Taxes); Relocation Allowances...

    Science.gov (United States)

    2011-06-06

    ... reflection of the actual tax impact on the employee. Therefore, this proposed rule offers the one-year RITA... to estimate the additional income tax liability that you incur as a result of relocation benefits and... Allowances (Taxes); Relocation Allowances (Taxes) AGENCY: Office of Governmentwide Policy (OGP), General...

  4. Financial top 100

    International Nuclear Information System (INIS)

    Jaremko, G.

    1999-01-01

    The way in which the oil industry has rebounded from a difficult financial year was discussed. In 1998, oil prices fell by about 30 per cent from 1997 prices to average US$14.40. In the second quarter of 1999, the rebounding international markets raised oil prices by about one-third to an average US$17.60. Recent surveys have shown that the oil and gas industry will experience major changes in the decade ahead. It was forecasted that in 25 years, total Canadian oil production could near three million barrels per day, an increase of 36 per cent from today's 2.2 million. However, as conventional reserves are running out, production of conventional oil is expected to be diminished by about two-thirds. Naturally-occurring, light refinery-ready oil is forecasted to come mostly from the east coast, whereas western output will be dominated by oil sands. Natural gas will continue to be a huge growth opportunity in the west because of new pipeline expansions and exports to the United States. This paper presented a list of Canada's financial top 100 oil and gas companies which emerged with the best endurance. The list included statistics from 1997 and 1998 for gross revenues, total assets, net income, cash/operating activities, capital expenditures, closing share prices (with percentage change), and market capitalization. 1 fig., 1 tab

  5. FINANCIAL DIAGNOSIS OF STOCKS

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2014-12-01

    Full Text Available Financial diagnosis is a part of a company’s general diagnosis. The role of the financial diagnosis is to establish the situation of the company at a given time, to see if it is viable, to help the decision-makers to take the best measures to continue or cease the activity, or to sell, buy or liquidate the company. Each entity is unique and arbitrarily applying some analysis models used by other companies can lead to significant errors. One cannot analyze in the same way a company that produces household products and a trade company. In the first one, the working capital must be positive, because permanent capitals must finance the fixed assets which have a high value, and the working capital will finance the operating cycle. In case of a trade company, a negative working capital might represent a positive activity, because the duration of the operating cycle is much shorter, and short term sources can also finance the company’s tangible assets.

  6. Latent class models in financial data analysis

    Directory of Open Access Journals (Sweden)

    Attilio Gardini

    2007-10-01

    Full Text Available This paper deals with optimal international portfolio choice by developing a latent class approach based on the distinction between international and non-international investors. On the basis of micro data, we analyze the effects of many social, demographic, economic and financial characteristics on the probability to be an international investor. Traditional measures of equity home bias do not allow for the existence of international investment rationing operators. On the contrary, by resorting to latent class analysis it is possible to detect the unobservable distinction between international investors and investors who are precluded from operating into international financial markets and, therefore, to evaluate the role of these unobservable constraints on equity home bias.

  7. Statistical inference for financial engineering

    CERN Document Server

    Taniguchi, Masanobu; Ogata, Hiroaki; Taniai, Hiroyuki

    2014-01-01

    This monograph provides the fundamentals of statistical inference for financial engineering and covers some selected methods suitable for analyzing financial time series data. In order to describe the actual financial data, various stochastic processes, e.g. non-Gaussian linear processes, non-linear processes, long-memory processes, locally stationary processes etc. are introduced and their optimal estimation is considered as well. This book also includes several statistical approaches, e.g., discriminant analysis, the empirical likelihood method, control variate method, quantile regression, realized volatility etc., which have been recently developed and are considered to be powerful tools for analyzing the financial data, establishing a new bridge between time series and financial engineering. This book is well suited as a professional reference book on finance, statistics and statistical financial engineering. Readers are expected to have an undergraduate-level knowledge of statistics.

  8. Financial Literacy: Empirical Sociological Approaches

    Directory of Open Access Journals (Sweden)

    Henye Livia Kovacsne

    2015-05-01

    Full Text Available The recent financial crises that started in the USA and spread all over Europe highlighted the importance of research in the field of financial culture. A variety of research projects pointed out that the general population’s financial literacy is lacking basic knowledge. The ever changing economic climate, demographic changes, tendencies in the financial processing sector and the acceleration in product innovation put considerable pressure on the everyday decision making process of a household. The overview of the international and national research on the subject proves that the improving of the population’s, especially the young people’s financial literacy is a priority both in leading economic countries and in Hungary, too. The idea of financial culture is as complex as the variety of research into the topic proves it. This article aims to point out the complicated nature of the notion and the variety of research that has been inserted into it.

  9. A REVIEW OF FINANCIAL EDUCATION

    Directory of Open Access Journals (Sweden)

    Fatih Temizel

    2015-07-01

    Full Text Available This study determines the importance of financial education in contemporary societies. A review of various organizations for increasing financial education whose individual and societal importance has been internationally accepted is also offered. Towards this end initiatives undertaken by international organizations and national authorities are examined. Aspects of these initiatives that can be offered as best practices for developing nations are identified. For the Turkish case financial education examples that can be organized under public authority leadership, with NGO participation are collated. Various experiences about measuring and increasing financial literacy are examined. Among these are the implementations in Australia, Japan, England and the United States. It is put forth, in light of international experience, that increasing access to financial education and efficiency of financial services are possible through, informing, education and consulting.

  10. Macroprudential policy and financial stability

    Directory of Open Access Journals (Sweden)

    Bogdan CHIRIACESCU

    2013-02-01

    Full Text Available This paper tries a conceptual framing of the issue of financial stability in economic theory and also to identify solutions to address episodes of financial instability. An essential reference is Minsky's financial instability hypothesis, which argues that a fundamental feature of the financial system is that it swings between robustness and fragility and these pendulum swings are an integral part of the process that generates the business cycle. Studies show that the effects of banking crises on economic activity are important both in magnitude and duration. Recently, macroprudential policy stood out as a central pillar in promoting financial stability in a broad sense. Regarding specific objectives of macroprudential policy, the prevalent vision refers to limiting systemic risk and macroeconomic costs of financial crises, but there are also important nuances.

  11. Financial potential of migrants’ capital in Ukraine

    Directory of Open Access Journals (Sweden)

    I.М. Krupka

    2015-06-01

    financial capital potential for the development of the national economy. Solving the problem of efficient use of migrants’ capital requires reforms of the tax area, government financial policy, regulation of entrepreneurship etc. Creating relevant socio-economic and legal conditions in Ukraine will allow us to direct the potential of migrants’ capital at the domestic financial market and the development of the national economy in terms of transformation and globalization.

  12. Chapter 2: The Financial Crisis

    OpenAIRE

    Hans-Werner Sinn; John Hassler; Gilles Saint-Paul; Giancarlo Corsetti; Michael P. Devereux; Tim Jenkinson; Jan-Egbert Sturm; Xavier Vives

    2009-01-01

    The financial turmoil that originated in 2007 and developed into an unprecedented crisis battering financial and real markets is the latest manifestation, on a grand scale and with new attributes, of a welldefined pathology in the process of market liberalization and integration in the post-Bretton Woods era. At the root of the crisis lies a fundamental inconsistency between financial globalisation – the process of liberalization and deregulation driving the impressive growth of world finan...

  13. Essays on financial analysts' forecasts

    OpenAIRE

    Rodriguez, Marius del Giudice

    2006-01-01

    This dissertation contains three self-contained chapters dealing with specific aspects of financial analysts' earnings forecasts. After recent accounting scandals, much attention has turned to the incentives present in the career of professional financial analysts. The literature points to several reasons why financial analysts behave overoptimistically when providing their predictions. In particular, analysts may wish to maintain good relations with firm management, to please the underwriter...

  14. Uruguay; Financial System Stability Assessment

    OpenAIRE

    International Monetary Fund

    2013-01-01

    The buffers built in the aftermath of Uruguay’s 2002 banking crisis have shielded the financial sector from the effects of the global financial turmoil. Growth has been robust and the outlook continues to be favorable. However, inflation persists but capital inflows have improved, and policy measures have been taken in response. Uruguay exhibits no obvious signs of near-term domestic macrofinancial vulnerability. The external risks to the economy and the financial system come from a fragile g...

  15. Empowering Physicians with Financial Literacy.

    Science.gov (United States)

    Bar-Or, Yuval

    2015-01-01

    Most doctors complete their medical training without sufficient knowledge of business and finance. This leads to inefficient financial decisions, avoidable losses, and unnecessary anxiety. A big part of the problem is that the existing options for gaining financial knowledge are flawed. The ideal solution is to provide a simple framework of financial literacy to all students: one that can be adapted to their specific circumstances. That framework must be delivered by an objective expert to young physicians before they complete medical training.

  16. Analisis Financial Deepening di Indonesia

    OpenAIRE

    Ruslan, Dede

    2011-01-01

    This paper aims to analize the financial deepening on Indonesia economy. The focusof analysize is to identifiying effect of interest rate, exchange rate and Gross DomesticProduct (GDP) to financial deepening on Indonesian economy for 1980-2007. Methodeof analysize is linier regression model. The result of analysize are Gross DomesticProduct (GDP) and interest rate have significant effect to financial deepening onIndonesian economy.

  17. Financial accounting for radiology executives.

    Science.gov (United States)

    Seidmann, Abraham; Mehta, Tushar

    2005-03-01

    The authors review the role of financial accounting information from the perspective of a radiology executive. They begin by introducing the role of pro forma statements. They discuss the fundamental concepts of accounting, including the matching principle and accrual accounting. The authors then explore the use of financial accounting information in making investment decisions in diagnostic medical imaging. The paper focuses on critically evaluating the benefits and limitations of financial accounting for decision making in a radiology practice.

  18. financial analysis of the company

    OpenAIRE

    Pojerová, Jana

    2008-01-01

    The main goal of this bachelor thesis called "Company Financial Analysis" is to evaluate the financial situation of ZS Kosova Hora a.s. in the years 2005 2013 using standard methods of financial analysis. To achieve this goal horizontal and vertical analyses, ratio analysis, pyramidal decomposition of the ROE indicator and solvency and bankruptcy models have been used. In all these areas the selected company has been compared with a selected sample of other agricultural enterprises and its fi...

  19. CONSOLIDATED FINANCIAL STATEMENTS UNDER IFRS

    OpenAIRE

    Tănase Alin-Eliodor; Calotă Traian-Ovidiu

    2013-01-01

    This article is focuses on accounting consolidation techniques and the preparation of consolidation worksheets for the components of financial statements (statement of comprehensive income, statement of changes in equity, and financial position). The presented group includes parent company, two subsidiaries (only one fully controlled by the parent company) and a jointly controlled entity. The financial statements are presented under the following standards IFRS 3 Business Combination, IAS 27 ...

  20. Nigeria; Financial Sector Stability Assessment

    OpenAIRE

    International Monetary Fund

    2013-01-01

    This Financial Sector Stability Assessment on Nigeria discusses the macroeconomic performance and structure of the financial system. Although Nigerian economy experienced both domestic and external shocks in recent years, the economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009. The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place. However, the regulatory and supervisor...

  1. Canada and international financial institutions

    OpenAIRE

    Robert Lafrance; James Powell

    1996-01-01

    International financial institutions, such as the International Monetary Fund, the World Bank and the Bank for International Settlements, are important players in the global financial system. This article provides an overview of the major international financial institutions to which Canada belongs. The paper highlights their activities and the nature of Canada's involvement, including that of the Bank of Canada. Recent initiatives coming out of the Halifax and Lyon Summits to improve the eff...

  2. CVFA: Coal vendor financial advisor

    International Nuclear Information System (INIS)

    Goote, W.G.; Andersen, S.

    1992-01-01

    An expert system for determining coal vendor financial viability in fuel purchasing contracts at an electric utility is described. The system blends rules, data objects, and financial knowledge to provide a rational basis for accepting or rejecting coal contracts given the financial capability of the coal vendor. The discussion concludes with a critique of managerial issues in the development of the system and its use in decision making. 3 refs., 1 fig

  3. Dynamic bifurcations on financial markets

    International Nuclear Information System (INIS)

    Kozłowska, M.; Denys, M.; Wiliński, M.; Link, G.; Gubiec, T.; Werner, T.R.; Kutner, R.; Struzik, Z.R.

    2016-01-01

    We provide evidence that catastrophic bifurcation breakdowns or transitions, preceded by early warning signs such as flickering phenomena, are present on notoriously unpredictable financial markets. For this we construct robust indicators of catastrophic dynamical slowing down and apply these to identify hallmarks of dynamical catastrophic bifurcation transitions. This is done using daily closing index records for the representative examples of financial markets of small and mid to large capitalisations experiencing a speculative bubble induced by the worldwide financial crisis of 2007-08.

  4. Financial Literacy, Financial Education and Economic Outcomes. NBER Working Paper No. 18412

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2012-01-01

    In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

  5. Benin - Access to Financial Services

    Data.gov (United States)

    Millennium Challenge Corporation — The performance evaluation undertaken included administrative financial data from MFIs and MSMEs which received grants under the Benin Compact as well as survey data...

  6. Genesis of enterprise financial security

    Directory of Open Access Journals (Sweden)

    Davydenko N. M.

    2015-05-01

    Full Text Available The article analyzes the scientific approaches to the definition of «financial security of entities», advantages and disadvantages of these approaches are highlighted. The own definition of financial security of entities is given. The composition of elements of enterprise financial security and principles of its provision are defined. Тhe role of individual elements of financial security to ensure high efficiency operation and development of enterprises is significant and has a direct impact on their solvency, liquidity and profitability.

  7. Markets for financial transmission rights

    International Nuclear Information System (INIS)

    Kristiansen, T.

    2004-01-01

    Results of a survey of markets for financial transmission rights that facilitate competitive, open and non-discriminatory electricity market design are discussed. Specifically, the survey covered Pennsylvania, New Jersey, Maryland (PJM), New York, California, New England, Texas and New Zealand. The main emphasis was on the PJM and the New York markets, since they are the most mature. Interwowen with the results is a thorough discussion of the properties, features and the design of financial transaction rights in the various jurisdictions, the advantages, disadvantages and market performance of financial transmission rights, market performance criteria, and the mechanism for acquiring financial transmission rights. 49 refs., 14 tabs., 6 figs

  8. Banks, markets, and financial stability

    OpenAIRE

    Eder, Armin; Fecht, Falko; Pausch, Thilo

    2014-01-01

    In a theoretical model of the Diamond-Dybvig style, in which deposit-taking banks and financial markets coexist, bank behavior is analyzed taking into account a positive ex-ante probability of a future financial crisis. We focus on the role of the interaction of market liquidity and banks' funding liquidity in the propagation of shocks in the financial system. Our findings suggest that in particular bank-dominated financial systems are prone to contagious bank runs due to asset price deterior...

  9. Psychosocial factors and financial literacy.

    Science.gov (United States)

    Murphy, John L

    2013-01-01

    This study uses data from the Health and Retirement Study (HRS) to analyze the psychological and social variables associated with financial literacy. The HRS is a nationally representative longitudinal survey of individuals older than age 50 and their spouses. An ordinary least squares linear regression analysis explores the relationship between financial literacy and several economic and psychosocial variables. After controlling for earnings, level of education, and other socioeconomic variables in this exploratory study, I find that financial satisfaction and religiosity are correlated with financial literacy.

  10. Endogenous money, circuits and financialization

    OpenAIRE

    Malcolm Sawyer

    2013-01-01

    This paper locates the endogenous money approach in a circuitist framework. It argues for the significance of the credit creation process for the evolution of the economy and the absence of any notion of ‘neutrality of money’. Clearing banks are distinguished from other financial institutions as the providers of initial finance in a circuit whereas other financial institutions operate in a final finance circuit. Financialization is here viewed in terms of the growth of financial assets an...

  11. Does Confucianism allow for body donation?

    Science.gov (United States)

    Jones, D Gareth; Nie, Jing-Bao

    2018-01-16

    Confucianism has been widely perceived as a major moral and cultural obstacle to the donation of bodies for anatomical purposes. The rationale for this is the Confucian stress on xiao (filial piety), whereby individuals' bodies are to be intact at death. In the view of many, the result is a prohibition on the donation of bodies to anatomy departments for the purpose of dissection. The role of dissection throughout the development of anatomy within a Confucian context is traced, and in contemporary China the establishment of donation programs and the appearance of memorial monuments is noted. In reassessing Confucian attitudes, the stress laid on a particular interpretation of filial piety is questioned, and an attempt is made to balance this with the Confucian emphasis on a moral duty to those outside one's immediate family. The authors argue that the fundamental Confucian norm ren (humaneness or benevolence) allows for body donation as people have a moral duty to help others. Moreover, the other central Confucian value, li (rites), offers important insights on how body donation should be performed as a communal activity, particularly the necessity of developing ethically and culturally appropriate rituals for body donation. In seeking to learn from this from a Western perspective, it is contended that in all societies the voluntary donation of bodies is a deeply human activity that is to reflect the characteristics of the community within which it takes place. This is in large part because it has educational and personal repercussions for students. Anat Sci Educ. © 2018 American Association of Anatomists. © 2018 American Association of Anatomists.

  12. Assessing allowable take of migratory birds

    Science.gov (United States)

    Runge, M.C.; Sauer, J.R.; Avery, M.L.; Blackwell, B.F.; Koneff, M.D.

    2009-01-01

    Legal removal of migratory birds from the wild occurs for several reasons, including subsistence, sport harvest, damage control, and the pet trade. We argue that harvest theory provides the basis for assessing the impact of authorized take, advance a simplified rendering of harvest theory known as potential biological removal as a useful starting point for assessing take, and demonstrate this approach with a case study of depredation control of black vultures (Coragyps atratus) in Virginia, USA. Based on data from the North American Breeding Bird Survey and other sources, we estimated that the black vulture population in Virginia was 91,190 (95% credible interval = 44,520?212,100) in 2006. Using a simple population model and available estimates of life-history parameters, we estimated the intrinsic rate of growth (rmax) to be in the range 7?14%, with 10.6% a plausible point estimate. For a take program to seek an equilibrium population size on the conservative side of the yield curve, the rate of take needs to be less than that which achieves a maximum sustained yield (0.5 x rmax). Based on the point estimate for rmax and using the lower 60% credible interval for population size to account for uncertainty, these conditions would be met if the take of black vultures in Virginia in 2006 was < 3,533 birds. Based on regular monitoring data, allowable harvest should be adjusted annually to reflect changes in population size. To initiate discussion about how this assessment framework could be related to the laws and regulations that govern authorization of such take, we suggest that the Migratory Bird Treaty Act requires only that take of native migratory birds be sustainable in the long-term, that is, sustained harvest rate should be < rmax. Further, the ratio of desired harvest rate to 0.5 x rmax may be a useful metric for ascertaining the applicability of specific requirements of the National Environmental Protection Act.

  13. The Ethics of the Financial Crisis and Financial Reform

    NARCIS (Netherlands)

    I.P. van Staveren (Irene)

    2012-01-01

    textabstractThe paper analyses the financial crisis and financial reform from two alternative ethical perspectives as compared to the mainstream one in economics, utilitarianism. It contrasts deontology with the ethics of care and argues that the rule-based deontological approach is not able to

  14. Financial regulation and financial system architecture in Central Europe

    NARCIS (Netherlands)

    Scholtens, B

    At the beginning of the transition, advice to Central European countries with respect to how to set up their financial systems was based on models used in western economies. This paper analyzes the experiences to set up a financial system in Central Europe. The experience in the first transition

  15. Financial Development, Financial Structure, and Macroeconomic Volatility: Evidence from China

    Directory of Open Access Journals (Sweden)

    Feng Wei

    2016-11-01

    Full Text Available Using annual data from 1997–2014 of 30 provinces, municipalities, and autonomous regions, subdividing trended and cyclical volatility of macroeconomics and inflation, considering different indicators of financial development and financial structure, this paper investigated the impact of financial development and financial structure on macroeconomic volatility. The empirical results found that (1 the trended and cyclical volatility of the previous macroeconomic period had a significantly positive impact on that of the current period, and the impact of trended volatility was greater than that of cyclical volatility; (2 financial development had a significantly negative impact on macroeconomic cyclical volatility through inflation cyclical volatility, but inflation trended volatility would amplify macroeconomic volatility; financial markets have no significant effect on macroeconomic volatility; financial structure measured with the ratio of stock market turnover and the efficiency of the financial development had a significant positive impact on macroeconomic cyclical volatility; and (3 inflation trended volatility had a significantly negative impact on macroeconomic cyclical volatility and trended volatility, while inflation cyclical volatility had a significantly positive impact on macroeconomic cyclical volatility.

  16. Understanding Financial Innovation: An Introduction to Derivative Financial Products.

    Science.gov (United States)

    Robinson, J. N.

    1992-01-01

    Explains the use of forwards, futures, swaps, and options in international currency trading. Argues that pricing options are based on the same basic principles as pricing other financial instruments. Concludes that, although financial markets have developed several new products, hedging and speculation involve similar processes. (CFR)

  17. Terrorism and financial supervision

    Directory of Open Access Journals (Sweden)

    Anatoli van der Krans

    2005-12-01

    Full Text Available This article presents an analysis of how legislators on international, European and national level combat the financing of terrorism. The central question in this article is whether European regulations concerning the prevention of money laundering and the financing of terrorism, are effective, proportional and mutually harmonious. Now that many regulations in this field have been established by intra-national bodies, it is important to examine how these regulations are further elaborated in the respective national systems. This article gives a broad overview of legislative initiatives of the UN, USA, FATF, EU and Council of Europe. The Netherlands for numerous reasons serves as a legal example. It is concluded that measures taken or proposed to avoid or at least reduce the financing of terrorism are quite effective to prevent abuse of the financial system. On the other hand, these measures increase the risk of underground or illegal financing, which is even more difficult to control.

  18. Preventing Financial Crime

    DEFF Research Database (Denmark)

    Boll, Karen

    This paper investigates the Swedish tax authority’s (Skatteverkets) compliance initiative called Preventing Financial Crime. In Sweden tax evasion related to organised moon-lighting is defined as a major risk to the revenue collection and to the legitimacy of Skatteverket. The traditional approach...... on this, the paper shows that the Swedish tax officials seek to motivate large construction contractors and municipalities to take preventive measures in relation to their sub-contractors to avoid and abate tax evasion. The paper shows the challenges in engaging and involving these external stakeholders...... has implications for how tax authorities (and other state authorities) reform their coercive regulation. If they decide to pursue a voluntary based approach where the actions of external partners play a central role, then the analysis helps to show some of the implied challenges and potentials....

  19. Advanta Financial Corporation

    International Nuclear Information System (INIS)

    Smyth, R. J.

    1998-01-01

    Services provided by Advanta Financial Corporation to the oil and gas industry are described. These services include industrial equipment leasing, and sale and lease back of new or used equipment in the $ 250,000 to $ 2 million range. Office equipment is provided on a 12 to 60 month capital lease with 100 per cent financing on new equipment. Service equipment is also available on 12 to 60 month capital lease and 0 to 25 per cent equity is required. Production equipment is leased on 12 to 84 month capital and operating lease agreement and requires 0 to 25 per cent equity. The process of concluding a lease in each category is described, including documentation requirements, equipment description, engineering summary, equipment schedule and acceptance, evidence of insurance and fiscal arrangements. In general, flexibility in the arrangements is the key to success in an aggressive and highly competitive industry

  20. ECONOMIC ESSENCE AND COMPONENTS OF FINANCIAL SUPPORT OF AGRICULTURAL SECTOR

    Directory of Open Access Journals (Sweden)

    Volodymyr Matskiv

    2015-11-01

    Full Text Available The purpose of the paper is scientific grounding of theoretical and methodological approaches to the fundamental principles of the functioning of the existing system of financial support of the agrarian sector in Ukraine and its potential areas of its improvement through the construction of new effective financing mechanisms. Methodology. In the study the following methods are used: a comparative and morphological methods – to reveal the content and development of scientific thoughts about the interpretation of the concept of «financial support»; methods of systematization and generalization – to determine the functionality of the agricultural sector and the need of its financial support and to reveal the features of its functioning; systemic method – to construct a model of the implementation of agricultural sector financial support; logical method – for a consistent generalization of theoretical and practical scientific research statements. Results. Investigation of formation and development of the doctrine of financial support and systematization of scientific thoughts about its essence gives the opportunity to consider the content of the studied category in terms of the functional approach. Interpretation of the term “financial support” comes down to the statement that the formation of the theoretical foundations of the essence and the economic nature of financial support is a result of the achievements of several generations of scientists, each of whom invested a significant contribution to the development of the theory of the studied concept. This allowed us to analyze the term «financial providing» and to summarize the existing approaches in the light of the activities of the agricultural sector. In terms of functionality we found that financial support as a phenomenon can be seen in the context of its unique significance in the development of the economy. Practical implications. It was determined that the problems of

  1. Financial Literacy and Financial Sophistication in the Older Population

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa

    2017-01-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications. PMID:28553191

  2. Financial Literacy and Financial Sophistication in the Older Population.

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S; Curto, Vilsa

    2014-10-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications.

  3. Bye, Bye Financial Repression, Hello Financial Deepening: The Anatomy of a Financial Boom

    OpenAIRE

    João Manoel Pinho de Mello; Márcio Gomes Pinto Garcia

    2011-01-01

    Since the conquest of hyperinflation, with the Real Plan, in 1994, the Brazilian financial system has grown from early infancy to late adolescence. We describe the process of maturing with emphasis on the defining features of the Brazilian financial system over the last 20 years: 1) stabilization and the subsequent financial crisis; 2) universality of banks; 3) market segmentation through public lending; 4) institutional improvement. Further paraphrasing Díaz Alejandro (1984), we raise some h...

  4. Issues in the Recognition versus Disclosure of Financial Information Debate

    Directory of Open Access Journals (Sweden)

    Novak Aleš

    2016-12-01

    Full Text Available Empirical evidence from the academic literature on capital market effects of financial information placement (i.e., recognition on the face of the primary financial statements versus disclosure in the notes to the financial statements is not straightforward. Therefore, the purpose of this paper is to contribute to the recognition versus required disclosure debate in a standard-setting context by exploring possible reasons for perceived differences between recognized and disclosed amounts. These differences, in our view, arise due to demonstrated auditors’ greater tolerance for misstatement in disclosed amounts, allowed noncompliance with disclosure requirements even in strong enforcement regimes, lesser care that preparers of financial statements devote to disclosures relative to recognized items as well as behavioural factors and differential processing costs related to the users of financial information. We believe that these arguments strengthen the case for the general preference for the recognition of financial information in the standard-setting context. The original scientific contribution of this paper is to systematically identify the reasons for the differences between recognized and disclosed amounts in financial statements. As such, this paper may provide a suitable basis for the justification of certain conceptual changes in the field of international accounting standards that are currently underway.

  5. CONTENT OF FINANCIAL STATEMENTS AND THEIR INFORMATIVE VALENCES FOR STAKEHOLDERS

    Directory of Open Access Journals (Sweden)

    MIRON Vasile Cristian Ioachim

    2015-06-01

    Full Text Available The qualitative characteristics of accounting information have a major importance in fundamenting stakeholders decisions in order to satisfy their interests. The financial statements, by their nature, provide synthetic information which shows the financial position and its modifications, the economic performance of the entity, the management of resources and other aspects that lead to rational decisions. Stakeholders interests are complex and sometimes divergent, that is why the content of the financial statements must be adapted in order to meet these interests. The present research analyzes how the information presented in the financial statements respond to the needs of the stakeholders. The analysis showed that there are some significant aspects for which the informational power of the financial statements is reduced. Also, using econometric processing, we have conceived a function that characterizes the correlation between the financial profitability of the entities activating in the energy sector and the profitability obtained in the stock exchange market. The conclusions of the research allowed us to propose some measures of improvement of the information from the financial statements, in order to create an adequate informational basis for the decisions of all the categories of stakeholders.

  6. Usage of internal statements in making consolidated financial statement

    Directory of Open Access Journals (Sweden)

    V.N. Herman

    2016-12-01

    Full Text Available The emergence of the consolidated financial statements is the result of integration processes in the businesses that lead to pooling of different companies. As consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they let you gauge the overall health of an entire group of companies as opposed to one company’s standalone position. Consolidation of financial statements requires from the participants of joining elaborating their individual statements. The article describes the general scheme of consolidation process and defines the key trends of consolidation adjustments, in particular, financial investments, internal operations, goodwill and exchange rate differences. It is found out that to get information about internal operations and financial investments such data have to be synthesized from internal statements. This approach allows using the same accounting methods to parent and subsidiary entities. The objects, the users and the subject domain of internal statements are determined in order to make consolidation of financial statements of joining.

  7. Liquidity management through financial planning

    Directory of Open Access Journals (Sweden)

    Kameníková Katarína

    2001-12-01

    Full Text Available One of the basic goals of financial management is to provide financial property and capital for running of the firm, as well as for its development, that means provide optimal firm´s liquidity.To improve liquidity is possible provide through various ways. In present time there is increasing importance of financial planning., where planning of liquidity presents one of its integral part. Therefore I deal in presented paper with possible liquidity improvement through calculation of financial planning in chosen slovac magnesite firm, exploitating and elaborating magnesite raw material.For creating of financial plann of liquidity I chosed to use one of the practical methods - method of financial indexes. Such method presents process of planning optimal liquidity with providing of required rentability. Such plann must provide balance between income and outcome, as well as secure achievment of expected profit.I used tools of financial planning for calculation of possible liquidity improvement in mentioned firm, where present financial situation is characterised by law liquidity, but high rentability. Such position presents transitive crisis situation, therefore firm must create new financial property or decrease liabilities, in order to overcome negative state of liquidity.Performed calculation showed, that change in balance sheet due to the growth of financial property will improve liquidity, rentability will be maintained, therefore firm will be able to transit from crisis situation.Providing of liquidity will present one of possible way how to care for financial health of firm. But such process is not simple, it must be done with connection to the changes of internal and external conditions of the firm.

  8. Financial interest and its disclosure in scientific publications.

    Science.gov (United States)

    Krimsky, S; Rothenberg, L S

    1998-07-15

    Journal policies and requirements of funding agencies on financial disclosure of authors and grant applicants have divided editors and scientists who disagree on whether such policies can improve the integrity of science or manage conflicts of interest. Those opposed to such disclosure policies argue that financial interest is one of many interests held by scientists, is the least scientifically dangerous, and should not be singled out. Those who favor open reporting of financial interests argue that full disclosure removes the suspicion that something of relevance to objectivity is being hidden and allows readers to form their own opinions on whether a conflict of interest exists and what relevance that has to the study. The authors believe that the scientific community and the public will be best served by open publication of financial disclosures for readers and reviewers to evaluate.

  9. Technical indicators of financial performance in the dairy herd

    DEFF Research Database (Denmark)

    Kristensen, Erling Lundager; Østergaard, Søren; Krogh, Mogens Agerbo

    2008-01-01

    Monte Carlo simulation was used to predict the long-term financial performance related to the technical performance of dairy herds. The indicators addressed were derived from data collected routinely in the herd. They indicated technical performance that can be affected by the farmer...... or the consultant, and they were derived from expected cause-effect relations between technical performance and financial performance at the herd level. The study included the indicators shape of lactation curve, reproduction efficiency, heifer management, variation between cows in lactation curve persistency...... cow was analyzed as the measure of financial performance. The potential effects of the selected indicators on the gross margin were estimated by means of an ANOVA. The final model allowed estimation of the financial value of specific changes within the key performance indicators. This study indicated...

  10. Bulgaria : Country Financial Accountability Assessment

    OpenAIRE

    World Bank

    2003-01-01

    Bulgaria's ambitious program of reforms in several areas, including public financial management (PFM), focuses greatly on its entry into the European Union (EU). Thus, the country has a well developed system, and structure of financial management, that relies heavily on information technology (such as in the area of cash management), and has independent external audits, and parliamentary o...

  11. Mexico : Country Financial Accountability Assessment

    OpenAIRE

    World Bank

    2004-01-01

    This Country Financial Accountability Assessment (CFAA) summarizes the status of implementation of financial management measures of the Federal public sector, showing both strengths, and areas for improvement, and, reflects input contributions in each area of public management. The main strength observed was the existence of clear rules governing the Federal Government's administrative fin...

  12. Financial Services and Emerging Markets

    NARCIS (Netherlands)

    B. Karreman (Bas)

    2011-01-01

    textabstractThis study addresses the organization and strategy of firms in emerging markets with an explicit application to financial services. Given the relevance of a well-functioning financial system for economic growth, understanding the organization and strategy of firms contributing to the

  13. Jordan Banks Financial Soundness Indicators

    Directory of Open Access Journals (Sweden)

    Imad Kutum

    2015-09-01

    Full Text Available The aim of this research paper is to examine the Jordanian banks using financial soundness indicators. This is to establish if Jordanian banks were affected because of the 2007/2008 financial crisis and determine the underlying reasons. The research paper was conducted on 25 banks in Jordan listed in the countries securities exchange. The research methodology used consisted of examining the banks financial records in order to derive four crucial Basel III ratio such as the capital adequacy ratio, the leverage ratio, the liquidity ratio and finally the Total Provisions (As % Of Non-Performing Loans %. The results revealed that out of the four hypotheses under examination Jordan Banks do not meet Basel financial Indicators for Capital Adequacy Ratio, Jordan Banks does not meet Basel financial Indicators for Liquidity Ratio , Jordan Banks do not meet Basel financial Indicators for Leverage Ratio and Jordan Banks do not meet Basel financial Indicators for Total Provisions (As % Of Non-Performing Loans ratio. Only one hypothesis was accepted based on the research outcomes. The rest of the hypothesis was rejected since the average trend line did not go below the Basel III required ratio level. The general outcome of the research revealed that Jordanian banks were not affected significantly by the financial crisis.

  14. Financial Planning with Fractional Goals

    OpenAIRE

    Goedhart, Marc; Spronk, Jaap

    1995-01-01

    textabstractWhen solving financial planning problems with multiple goals by means of multiple objective programming, the presence of fractional goals leads to technical difficulties. In this paper we present a straightforward interactive approach for solving such linear fractional programs with multiple goal variables. The approach is illustrated by means of an example in financial planning.

  15. The Objective of Financial Reporting.

    Science.gov (United States)

    Schermann, Kenneth R.

    1986-01-01

    Alerts public school business officials to a financial reporting concepts statement to be issued by the Governmental Accounting Standards Board in late 1986. The new directive will outline four objectives concerned with accountability procedures, resource management and compliance information, operating results, and future financial capabilities.…

  16. Stakeholder relations and financial performance

    NARCIS (Netherlands)

    Scholtens, B.; Zhou, Y.

    2008-01-01

    We analyze how shareholder performance can be associated with stakeholder relations. As such, we try to find out whether there is an association between financial performance and stakeholder relations with respect to different theoretical notions about the firm. Financial performance is

  17. Complexity theory and financial regulation

    NARCIS (Netherlands)

    Battiston, Stefano; Farmer, J.D.; Flache, Andreas; Garlaschelli, Diego; Haldane, Andrew G.; Heesterbeek, Hans; Hommes, Cars; Jaeger, Carlo; May, Robert; Scheffer, Marten

    2016-01-01

    Traditional economic theory could not explain, much less predict, the near collapse of the financial system and its long-lasting effects on the global economy. Since the 2008 crisis, there has been increasing interest in using ideas from complexity theory to make sense of economic and financial

  18. The Importance of Financial Literacy

    Science.gov (United States)

    Kezar, Adrianna; Yang, Hannah

    2010-01-01

    In this article, the authors argue that campus communities must play a more active role in developing financial literacy than they currently do--and not just by providing counseling in moments of emergency. They argue that financial literacy, as a life skill, as a requisite to citizenship, and as a critical intellectual competency, is an essential…

  19. Teaching OOP with Financial Literacy

    Science.gov (United States)

    Zhu, Hongwei

    2011-01-01

    Students lose interest in learning programming when the materials are not related to their lives. A challenge facing most students is that they lack the financial literacy necessary to manage their debts. An approach is developed to integrate financial literacy into an object-oriented programming (OOP) course. The approach is effective in…

  20. Financial fragility and global dynamics

    International Nuclear Information System (INIS)

    Dieci, Roberto; Sordi, Serena; Vercelli, Alessandro

    2006-01-01

    This paper deals with a simple model of financial fluctuations, where a crucial role is played by the dynamic interaction between aggregate current and intertemporal financial ratios. The model results in a 4D discrete-time dynamical system-capable of generating complex dynamics-which is analyzed by means of both analytical tools, such as local stability analysis and bifurcation theory, and numerical simulations. The behavior of the model is studied for different parameter regimes. We show that its dynamic behavior is very sensitive to the parameters that represent (1) the speed of adjustment of the desired current financial ratio towards a safe level of the intertemporal one and (2) the intensity with which aggregate current financial decisions affect future financial constraints. In particular, different parameter regimes are identified, giving rise to two different 'routes' to complexity, one leading to chaotic dynamics, the other to a coexistence of attractors and path-dependence

  1. Veblen, Bataille and Financial Innovation

    DEFF Research Database (Denmark)

    Gammon, Earl; Wigan, Duncan

    2015-01-01

    This article advances towards the reconceptualization of financial innovation. It examines the calamitous role of financial innovation in the global financial crisis, developing a non-rational theorization of finance within the social economy that factors in the role of affect. Outlining...... the foundations for such an approach, the analysis draws on Thorstein Veblen and Georges Bataille, whose work encompasses psycho-social conceptions of political-economic agency. From the more anthropological lens of Veblen and Bataille's theorizations, it is possible to move beyond instrumentalist accounts...... of financial innovation premised on pecuniary expedients and aspirations of market completion. As we argue, in a broader affective economy, contemporary financial innovation serves invidious ends, providing a means of attaining social distinction, constituting a medium for violent expenditure and bestowing...

  2. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

    In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900......–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense...

  3. Size and complexity in model financial systems

    Science.gov (United States)

    Arinaminpathy, Nimalan; Kapadia, Sujit; May, Robert M.

    2012-01-01

    The global financial crisis has precipitated an increasing appreciation of the need for a systemic perspective toward financial stability. For example: What role do large banks play in systemic risk? How should capital adequacy standards recognize this role? How is stability shaped by concentration and diversification in the financial system? We explore these questions using a deliberately simplified, dynamic model of a banking system that combines three different channels for direct transmission of contagion from one bank to another: liquidity hoarding, asset price contagion, and the propagation of defaults via counterparty credit risk. Importantly, we also introduce a mechanism for capturing how swings in “confidence” in the system may contribute to instability. Our results highlight that the importance of relatively large, well-connected banks in system stability scales more than proportionately with their size: the impact of their collapse arises not only from their connectivity, but also from their effect on confidence in the system. Imposing tougher capital requirements on larger banks than smaller ones can thus enhance the resilience of the system. Moreover, these effects are more pronounced in more concentrated systems, and continue to apply, even when allowing for potential diversification benefits that may be realized by larger banks. We discuss some tentative implications for policy, as well as conceptual analogies in ecosystem stability and in the control of infectious diseases. PMID:23091020

  4. Earning management in Brazilian financial institutions

    Directory of Open Access Journals (Sweden)

    Adriana Bruscato Bortoluzzo

    2016-06-01

    Full Text Available ABSTRACT The present study aims to study earnings management in a significant sample of 123 banks in the Brazilian market between 2001 and 2012. Given the important role that banks play in a country's economy, it is important to understand that there are discretionary factors involved in the reporting of a financial institution's profitability. Credit provisioning guidelines for Brazilian financial institutions are described in Resolution 2682/99 of the National Monetary Council (Conselho Monetário Nacional. Because of the discretion allowed in this resolution, loan loss provision is used as instrument of earnings management, which is not an illegal practice, but this behavior does affect the risk perception of agents and analysts, and they should be aware of it and understand it. We found that credit provisioning is used as an earnings management mechanism to smooth the net income of Brazilian financial institutions. Brazilian banks tend to avoid not only negative net income pre-loan loss provisions and taxes, but also negative net income pre-loan loss provisions and taxes in relation to the previous period. Contrary to the previous studies, it is not clear if banks avoid lower net income pre-loan loss provisions and taxes than a given peer group.

  5. Financial risk protection from social health insurance.

    Science.gov (United States)

    Barnes, Kayleigh; Mukherji, Arnab; Mullen, Patrick; Sood, Neeraj

    2017-09-01

    This paper estimates the impact of social health insurance on financial risk by utilizing data from a natural experiment created by the phased roll-out of a social health insurance program for the poor in India. We estimate the distributional impact of insurance on of out-of-pocket costs and incorporate these results with a stylized expected utility model to compute associated welfare effects. We adjust the standard model, accounting for conditions of developing countries by incorporating consumption floors, informal borrowing, and asset selling which allow us to separate the value of financial risk reduction from consumption smoothing and asset protection. Results show that insurance reduces out-of-pocket costs, particularly in higher quantiles of the distribution. We find reductions in the frequency and amount of money borrowed for health reasons. Finally, we find that the value of financial risk reduction outweighs total per household costs of the insurance program by two to five times. Copyright © 2017. Published by Elsevier B.V.

  6. 38 CFR 41.310 - Financial statements.

    Science.gov (United States)

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Financial statements. 41...) AUDITS OF STATES, LOCAL GOVERNMENTS, AND NON-PROFIT ORGANIZATIONS Auditees § 41.310 Financial statements. (a) Financial statements. The auditee shall prepare financial statements that reflect its financial...

  7. 7 CFR 3052.310 - Financial statements.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial statements. 3052.310 Section 3052.310....310 Financial statements. (a) Financial statements. The auditee shall prepare financial statements... appropriate, cash flows for the fiscal year audited. The financial statements shall be for the same...

  8. Financial Knowledge and Best Practice Behavior

    Science.gov (United States)

    Robb, Cliff A.; Woodyard, Ann S.

    2011-01-01

    The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally…

  9. 40 CFR 35.6670 - Financial reports.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Financial reports. 35.6670 Section 35... Actions Reports Required Under A Cooperative Agreement § 35.6670 Financial reports. (a) General. The...) Financial Status Report—(1) Content. (i) The Financial Status Report (SF-269) must include financial...

  10. Financial Burden Borne by Laparoscopic Living Kidney Donors.

    Science.gov (United States)

    Wiseman, Jennifer F; Jacobs, Cheryl L; Larson, Dawn B; Berglund, Danielle M; Garvey, Catherine A; Ibrahim, Hassan N; Matas, Arthur J

    2017-09-01

    Living kidney donors have donation-related out-of-pocket costs (direct costs) and/or ongoing daily expenses while losing income (indirect costs). Yet there is little information about how much of a subjective burden these constitute for the donors. From December 2003 through December 2014, we surveyed donors 6 months postdonation to determine their financial burden related to donation (on a scale of 1 to 10) and what resources were used to cover expenses. Of 1136 surveyed, 796 (70%) responded. Among respondents, mean age at donation was 43.6 ± 10.6 years, 64% were women, 96% were white, and 53% were related by blood to their recipient. Overall, 26% scored their financial burden as 5 or higher; 8% scored it as 8 or higher. Increased expenses were associated with a higher reported burden; however, significant burden was reported by some with no out-of-pocket expenses (presumably due to lost wages and continuing expenses). The burden was scored as 5 or higher by 27% of those employed outside the home (n = 660), 15% homemakers, 13% retirees, 40% students; 28% unemployed; and 26% whose occupation was unknown. Over half (51%) of those receiving a local or (means-tested) national grant still reported moderate to severe burden. Besides grants, donors used a variety of sources to help offset expenses: dipped into savings, borrowed from friends or family, took out a loan, and/or had a fundraiser. Those with the highest burden reported using the most additional sources. Donors should not have to incur costs or a financial burden to donate; the transplant community should strive to make donation financially neutral.

  11. Do Catalan private hospitals enjoy financial health?

    Directory of Open Access Journals (Sweden)

    Judit Creixans Tenas

    2016-02-01

    Full Text Available Purpose: The present study reflects the economic and financial analysis of  private hospitals with non-charitable character in Catalonia 2008-2013. The private health sector is considered to be a service activity that develops an important social role. The study positions these analysed centers in the Catalan and Spanish health sector and presents the main economic and financial indicators to diagnose the situation of these companies during the period indicated by analysing short and long-term results and analysis of changes in equity and cash flows of the wineries. Design/methodology/approach: The data used comes from the statements of the Catalan hospital centers in the period 2008-2013 and in particular, it contains a sample of 94 Catalan private hospitals, that mostly are considered large-level accounting (according to the General Accounting Plan. The economic and financial  analysis has carried out using descriptive statistics and analysis results and conclusions have been reached. Findings: The study noted that enables private hospitals in this period have a healthy economic and financial status, although it should improve the management of assets. Most sales are concentrated with a small number of hospitals and, regarding the evolution of the results, produces two distinct stages, the first period of decrease (2008-2010 and the second period of growth and recovery from 2011.. Research limitations/implications: It would be desirable to perform the same study by the Spanish private hospitals in order to compare the economic and financial analysis of the Catalan private sector with the Spanish private sector. Practical implications: It allows us to assess the projection of this sector in recent years in Catalonia in order to take the appropriate economic decisions in this regard. Social implications: The results show the changes that have occurred over the years in the economic crisis of the period analysed. Originality / value: For

  12. Integrating physical and financial approaches to manage environmental financial risk

    Science.gov (United States)

    Characklis, Gregory; Meyer, Eliot; Foster, Benjamin

    2017-04-01

    Physical and/or engineered solutions have long been used to manage risks associated with adverse environmental events. Examples include reservoirs as a tool for mitigating drought-related supply risk, levees for managing flood risk and dredging of inland waterways to ensure navigability during low flow periods. These measures can reduce many types of risk (e.g., loss of life), but are often employed as a means of protecting against financial losses. When the focus is on managing environmental financial risk, physical solutions can be effective, but also costly. In many cases, non-physical tools can provide a less expensive means of managing financial risk, with these often taking the form of financial instruments such as hedging contracts, contingency funds or insurance. Some of these instruments, such as flood insurance, are widely available, but historically many environmental financial risks have been managed primarily (or solely) via physical solutions without much consideration of alternatives, thereby opening opportunities for innovation in developing financial solutions. Recent research has demonstrated that financial instruments can play a significant role in managing drought-related financial risk in sectors as diverse as water utilities, energy generation and inland navigation. Nonetheless, this work has largely considered the use of these instruments within systems in which physical solutions are already in place (but failing to achieve desired performance). The next step in the evolution of managing environmental financial risk involves developing methods for designing risk management strategies that do not assume an established physical system. Here the goal is to identify the relative role that physical solutions and financial instruments should play as they are integrated into a comprehensive risk management strategy. This is not a straightforward challenge as one approach reduces the risk of financial losses and the other redistributes those losses

  13. 75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

    Science.gov (United States)

    2010-04-29

    ... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Annual Financial Statement of Surety Companies--Schedule F AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...

  14. Financialization of commodities

    Directory of Open Access Journals (Sweden)

    Michał Falkowski

    2011-12-01

    Full Text Available The basic theory of price formation tells us how the price of a particular asset will change based on the adjustment to its supply and demand. However, values of assets are also determined by other business fundamentals, company’s and world events, human psychology, and investors’ belief about the possible future profit. In recent history that lead to an increase of individual and institutional investors’ interest in allocating their resources in commodity markets. With a large inflow of capital commodities’ prices started to rise making them attractive components to effective investment portfolios. The presented paper addresses the issue of so called commodities ‘financialization’ process. It looks at the main factors standing behind commodities’ price movements and to what extent financial market participants contributed to commodities price volatility in recent years. Based on the data examined it distinguishes the involvement of both commercial and non-commercial traders in short and long term periods of time. As well as explaining the impact of growing investors’ interest in commodity markets it defines other market forces - like currency appreciations and emerging markets - as being part of increased volatility in raw and soft commodity markets. Along with market examination the paper focuses on possible future outcomes in attempts to regulate commodities derivatives markets and potential effects of those efforts.

  15. Consolidated Financial Statements

    OpenAIRE

    Kolářová, Pavla

    2014-01-01

    Diplomová práce se zabývá problematikou konsolidace účetní závěrky. Práce je členěna na dvě části. První část je zaměřena na sestavení konsolidované účetní závěrky za českou část skupiny podniků. Druhá část se zabývá analýzou výkonnosti sestavené konsolidované účetní závěrky a jednotlivých společností finančními ukazateli. Práce rovněž obsahuje návrhy na zlepšení ekonomické situace holdingu či jednotlivých společností. Master's thesis deals with the consolidation of the financial statement...

  16. 76 FR 16629 - Federal Travel Regulation (FTR); Relocation Allowances-Relocation Income Tax Allowance (RITA) Tables

    Science.gov (United States)

    2011-03-24

    ... other FTR Bulletins can be found at http://www.gsa.gov/ftrbulletin . The RIT allowance tables are located at http://www.gsa.gov/relocationpolicy . DATES: This notice is effective March 24, 2011. FOR... CFR part 301-17 Appendices A through D. The tables will be published at http://www.gsa.gov...

  17. 78 FR 26637 - Federal Travel Regulation (FTR); Relocation Allowance-Relocation Income Tax (RIT) Allowable Tables

    Science.gov (United States)

    2013-05-07

    ...: The GSA published FTR Amendment 2008-04, in the Federal Register on June 25, 2008 (73 FR 35952), specifying that GSA would no longer publish the RIT Allowance tables in Title 41 of the Code of Federal..., 2013. Carolyn Austin-Diggs, Principal Deputy Administrator, Office of Asset and Transportation...

  18. Stress testing in financial institutions

    Directory of Open Access Journals (Sweden)

    Mirković Vladimir

    2014-01-01

    Full Text Available In 2000 the Basle Committee on the Global Financial System defined stress testing as 'a generic term describing various techniques used by financial firms to gauge their potential vulnerability to exceptional but plausible events'. Exceptional events refer to one-off or recurring events with far-reaching consequences for the concerned financial institution and the financial sector s stability overall. Such unexpected (exceptional events include, for instance: bankruptcy in Argentina in 2001, stock markets collapse ('Black Monday' on 19 October 1987, or the fall of the energy giant Enron in 2001. The adoption of the new Basle Accord (better known as Basle II in 2001 envisaged the implementation of stress tests for the identification of events and future changes in economic circumstances that could cause some unfavorable effects on banks' credit exposure, along with the assessment of banks' ability to survive in the new circumstances. Negative experiences from the past, having undermined the stability of financial systems worldwide, made a decisive impact on regulators at all levels to additionally consider the issue of increasing the financial system's resistance to the occurrence of unexpected - exceptional events. To this end, the introduction of stress tests was the turning point in the process of increased banking systems' resistance to shocks. This paper primarily deals with stress testing methodology and bank risk measurement techniques, along with the main results of conducted tests, directly impacting the entire financial system.

  19. The Relation Between Financial and Housing Wealth of Dutch Households

    NARCIS (Netherlands)

    Hochgürtel, S.; van Soest, A.H.O.

    1996-01-01

    We analyze households' joint investment decisions for financial wealth and homes.In our bivariate censored regression model with endogenous switching, fixed costs or transaction costs are captured by a threshold that has to be passed before the purchase.The model allows for spill-over effects of a

  20. Financial accounting as a method of household finance capacity valuation

    Directory of Open Access Journals (Sweden)

    A. B. Untanov

    2017-01-01

    Full Text Available The article presents existing household finance capacity investigations. Comparison conducting allowed to determinate collisions and flaws of previous works. That substantiates to find a new approach in household finance capacity valuation necessity. The article contains theoretical research of household finance fundamental categories. In particular, it notes significant difference between domestic and foreign experience of household finance determination. Although emphasizing key similarities allows identifying household finance capacity composition. Moreover, the article provides a public and corporate finance sectors experience, which contains a huge knowledge of finance capacity investigations. Used research allows classify finance capacity not only as a resource valuation, but also as an economic entity’s ability to generate financial result. In terms of resource valuation, the paper suggests assessing both financial resources in classical meaning and any other property, which participating household economic activity and could be evaluated. The author’s position in terms of household finance capacity valuation is suggested. A broad definition of finance capacity causes applying conceptually different approach in this paper. Thus, comparative analysis method is suggested to substantiate household and corporate firm similarities. Used method allows forming household financial accounting, which leads to clear determination of household finance capacity composition and structure. Specificity forming household financial accounting is considered. An author’s position in regards existing contradictions with early research is suggested.

  1. The Dual Role of Money and Optimal Financial Taxes

    NARCIS (Netherlands)

    Huizinga, H.P.

    1996-01-01

    This paper reconsiders the optimal taxation of money and other financial assets.The optimal tax formulae reflect that money provides liquidity services and is a saving vehicle.In fact, it is useful to reformulate the optimal tax problem to allow for separate taxes on the liquidity and saving

  2. Financial accounting effects of tax aggressiveness: Contracting and measurement

    NARCIS (Netherlands)

    DeWaegenaere, A.M.B.; Sansing, R.C.; Wielhouwer, J.L.

    2015-01-01

    This study examines a setting in which a tax-reporting decision is delegated to a firm's tax manager. Using financial accounting measures of tax expense to evaluate the tax manager allows the firm to efficiently attain the level of tax avoidance it prefers, despite the fact that the consequences of

  3. Financial accounting effects of tax aggressiveness : Contracting and measurement

    NARCIS (Netherlands)

    De Waegenaere, A.M.B.; Sansing, R.; Wielhouwer, J.L.

    This study examines a setting in which a tax-reporting decision is delegated to a firm's tax manager. Using financial accounting measures of tax expense to evaluate the tax manager allows the firm to efficiently attain the level of tax avoidance it prefers, despite the fact that the consequences of

  4. Does Webinar-Based Financial Education Affect Knowledge and Behavior?

    Science.gov (United States)

    Johnson, Carrie L.; Schumacher, Joel B.

    2016-01-01

    Using webinar delivery for Extension financial education programs allows educators to reach a broader range of clientele. It can, however, be difficult to gauge participants' learning of concepts in an online environment. Evaluations of two webinar series, one in Montana and the other in South Dakota, sought to determine the effectiveness of using…

  5. MODELING OF ACCOUNTING ASPECTS OF FINANCIAL RESULTS

    Directory of Open Access Journals (Sweden)

    Hrayr HANISYAN

    2014-06-01

    Full Text Available Modern trends in world economy require expanding functional informational capabilities of financial statements. Market-oriented users of financial statements are interested in information necessary when making decisions of financial character.

  6. Financial Accounting for the Defense Investigation Service

    National Research Council Canada - National Science Library

    1998-01-01

    The audit was performed in support of our audits of the FYs 1996 and 1997 DoD-wide financial statements required by the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994...

  7. Financial Literacy, Retirement Planning and Household Wealth

    NARCIS (Netherlands)

    van Rooij, Maarten C. J.; Lusardi, Annamaria; Alessie, Rob J. M.

    Relying on comprehensive measures of financial knowledge, we provide evidence of a strong positive association between financial literacy and net worth, even after controlling for many determinants of wealth. We discuss two channels through which financial literacy might facilitate wealth

  8. Students win national financial planning contest

    OpenAIRE

    Sutphin, Michael D.

    2007-01-01

    Three Virginia Tech students studying financial planning have won the 2007 Ameriprise Financial Planning Invitational, bringing home $10,000 in scholarship money to support the financial planning program in the College of Agriculture and Life Sciences.

  9. The 2000 DOD Financial Management Improvement Plan

    National Research Council Canada - National Science Library

    2001-01-01

    The Federal Financial Management Improvement Act of 1996 requires DoD financial management systems to comply substantially with Federal financial management system requirements, Federal accounting standards, and the U.S...

  10. FINANCIAL STATEMENTS – SUPPLIER OF FINANCIAL ACCOUNTING INFORMATION

    Directory of Open Access Journals (Sweden)

    Costi Boby

    2013-09-01

    Full Text Available Continuous improvement of the accounting information system is considering financial and accounting information, which must be true, accurate, reliable, timely presented to users, constructed so as to meet the different goals of different users.

  11. CEA financial report 2007; CEA rapport financier 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    This document provides financial data on the CEA for the year 2007. The management report (budget, resources, expenditures) and the accounting are detailed. The main management events of the year 2007 are presented. (A.L.B.)

  12. Financial Audit: IRS's Fiscal Years 2001 and 2000 Financial Statements

    National Research Council Canada - National Science Library

    2002-01-01

    ...) as of and for the fiscal years ending September 30, 2001, and 2000. Our audits were required by the Chief Financial Officers Act of 1990, as expanded by the Government Management Reform Act of 1994...

  13. Framework for Financial Ratio Analysis of Audited Federal Financial Reports

    National Research Council Canada - National Science Library

    Brady, Richard

    1999-01-01

    .... The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and program issues and provide an analytical...

  14. Financial Ratio Analysis of Audited Federal Financial Statements

    National Research Council Canada - National Science Library

    Kenney, Shane

    2000-01-01

    .... The purpose of these statements is to fully reveal federal entities' financial position, in the hope of enabling a better understanding of these federal entities, and to assist in resource management...

  15. Numeracy, Financial Literacy, and Financial Decision-Making

    Directory of Open Access Journals (Sweden)

    Annamaria Lusardi

    2012-01-01

    Full Text Available Financial decisions, be they related to asset building or debt management, require the capacity to do calculations, including some complex ones. But how numerate are individuals, in particular when it comes to calculations related to financial decisions? Studies and surveys implemented in both the United States and in other countries that are described in this paper show the level of numeracy among the population to be very low. Moreover, lack of numeracy is not only widespread but is particularly severe among some demographic groups, such as women, the elderly, and those with low educational attainment. This has potential consequences for individuals and for society as a whole because numeracy is found to be linked to many financial decisions. As we shift responsibility from governments and employers onto individuals, it is increasingly important to find ways to equip people with the skills that are necessary to make savvy financial decisions.

  16. Enron: a financial Tchernobyl?; Enron: un Tchernobyl financier?

    Energy Technology Data Exchange (ETDEWEB)

    Nicolet, J.L. [Expert Judiciaire, Pres la Cours d' Appel de Versailles, 78 (France); Alazard, C.; Charron, J.L. [Professeurs agreges d' Economie et Gestion, DECF, Lycee de Sevres, 92 (France)

    2004-07-01

    ENRON is almost more striking as an epitome, a model, than as a scandal. It is the perfect illustration of the occurrence of a major financial risk with strong contaminating repercussions. Close examination of the measures taken after this scandal, and the many other scandals (WorldCom, Vivendi etc.) which followed it, indicates that financial risk does not only, as might be imagined on more superficial analysis, take its roots in fraudulent behaviour. On the contrary, fraudulent behaviour appears merely to act as a catalyst. The authors suggest that a global approach integrating the concepts of industrial risk management provides a far more appropriate prism through which to interpret and develop effective controls for financial risks. After recalling the main facts, they apply the concepts of cindynics (the science of danger) to the Enron case and rapidly reach a first major conclusion: the financial system does not have its foundations in any reliable system of measurement. (authors)

  17. Financial Bubbles, Real Estate Bubbles, Derivative Bubbles, and the Financial and Economic Crisis

    Science.gov (United States)

    Sornette, Didier; Woodard, Ryan

    The financial crisis of 2008, which started with an initially well-defined epicenter focused on mortgage backed securities (MBS), has been cascading into a global economic recession, whose increasing severity and uncertain duration has led and is continuing to lead to massive losses and damage for billions of people. Heavy central bank interventions and government spending programs have been launched worldwide and especially in the USA and Europe, with the hope to unfreeze credit and bolster consumption. Here, we present evidence and articulate a general framework that allows one to diagnose the fundamental cause of the unfolding financial and economic crisis: the accumulation of several bubbles and their interplay and mutual reinforcement have led to an illusion of a "perpetual money machine" allowing financial institutions to extract wealth from an unsustainable artificial process. Taking stock of this diagnostic, we conclude that many of the interventions to address the so-called liquidity crisis and to encourage more consumption are ill-advised and even dangerous, given that precautionary reserves were not accumulated in the "good times" but that huge liabilities were. The most "interesting" present times constitute unique opportunities but also great challenges, for which we offer a few recommendations.

  18. Financial Literacy and Long- and Short-Term Financial Behavior in Different Age Groups

    Science.gov (United States)

    Henager, Robin; Cude, Brenda J.

    2016-01-01

    The purpose of this study was to examine the relationship between financial literacy and financial behaviors among various age groups. Financial literacy was measured in three ways: objective financial knowledge, subjective financial knowledge or confidence, and subjective financial management ability. The age groups were 18-24, 25-34, 35-44,…

  19. 39 CFR 233.5 - Requesting financial records from a financial institution.

    Science.gov (United States)

    2010-07-01

    ... INSPECTION SERVICE AUTHORITY § 233.5 Requesting financial records from a financial institution. (a... Department of the U.S. Postal Service to request financial records from a financial institution pursuant to... authorized to request financial records of any customer from a financial institution pursuant to a formal...

  20. FINANCIAL REPORTING IN PUBLIC INSTITUTIONS AND NON-FINANCIAL ENTITIES. SIMILARITIES AND DIFFERENCES

    OpenAIRE

    Daniela Vitan

    2011-01-01

    The present paperwork contains issues regarding financial reporting at the public institutions and non – financial entities. The main aspects are regarding the obligation of all entities to present the financial statements, the content of financial statements in public institutions and non-financial entities. Also, is presented the similarities and the differences aspects between financial reporting of these two patrimonial entities.

  1. Methodical approach to financial stimulation of logistics managers

    OpenAIRE

    Melnykova Kateryna V.

    2014-01-01

    The article offers a methodical approach to financial stimulation of logistics managers, which allows calculation of the incentive amount with consideration of profit obtained from introduction of optimisation logistics solutions. The author generalises measures, which would allow increase of stimulation of labour of logistics managers by the enterprise top managers. The article marks out motivation factors, which exert influence upon relation of logistics managers to execution of optimisatio...

  2. A Financial Literacy Measure: Gendering and Contextualising Financial Technicalities

    Directory of Open Access Journals (Sweden)

    Asta Zokaityte

    2016-03-01

    Full Text Available This article analyses the relationship between law, gender, and finance, with a particular focus on gender inequalities in the financial literacy measure which was constructed by the Organisation for Economic Cooperation and Development (OECD. It seeks to trouble predominant claims about financial literacy as an effective, ‘edu-regulatory’ policy to address gender inequalities in the financial services market. The article suggests that instead of acting as a neutral assessment of people’s financial literacy, the measure, in fact, embodies gendered assumptions about finance and financial practices. The measure presents a financial world in abstract terms and fails to account for different contexts within which financial decisions are made. The article exposes the measure’s problematic deployment of the literacy/illiteracy binary in thinking about financial gender inequalities. Rather than being attentive to the ways in which gender inequalities are produced in financial markets, the OECD measure misattributes these to irrational financial behaviour, and further reproduces the marginalisation of women in the global financial market. Este artículo analiza la relación entre derecho, género y finanzas, realizando un enfoque particular en las desigualdades de género existentes en el estudio sobre los conocimientos financieros que elaboró la Organización para la Cooperación y el Desarrollo Económico (OCDE. Busca contrastar las afirmaciones dominantes sobre los conocimientos financieros como una política efectiva, “edu-reguladora” para abordar las desigualdades de género en el mercado de servicios financieros. El artículo sugiere que, en lugar de realizar una evaluación neutral de los conocimientos financieros de las personas, la medida plasma asunciones de género sobre las finanzas y las prácticas financieras. El estudio presenta un mundo financiero en términos abstractos y no tiene en cuenta los diferentes contextos en los

  3. Methods of Financial Risk Management

    Directory of Open Access Journals (Sweden)

    Korzh Natalia

    2016-10-01

    Full Text Available The essence and nature of financial risks are investigated. Their classification is conducted. The features of financial risk management and the main methods of management are considered. The ways of risk compensation are identified. It is proved that the objective external risk basis is such market imperfections as externalities of enterprises and incomplete information about the operation of the business environment and internal objective basis risk – the objective function to maximise profits in a competitive environment. It is revealed that to compensate market imperfections business entities should develop a strategy that combines fill in missing information and neutralise or minimise externalities that tactically implemented in financial risk management programs.

  4. THEORETICAL SUBSTANTIATION OF FINANCIAL MANAGEMENT

    Directory of Open Access Journals (Sweden)

    N. V. Myroshnyk

    2009-03-01

    Full Text Available The concept «finance» is defined. It is investigated that in conditions of the market economy for effective management of financial resources the provision of enterprise activities with optimal amount of the financial resources, their rational use, the profit maximization, and the provision of market cost of enterprise are necessary. In conditions of the market economy the issues of improvement of management of production processes, efficient use of financial, labor and material resources become urgent. To solve such problems, the enterprise administrations should be aware of the knowledge of economics, production technologies, and finance.

  5. Objective - oriented financial analysis introduction

    Directory of Open Access Journals (Sweden)

    Dessislava Kostova – Pickett

    2018-02-01

    Full Text Available The practice of financial analysis has been immeasurably strengthened in recent years thanks to the ongoing evolution of computerized approaches in the form of spreadsheets and computer-based financial models of different types. These devices not only relieved the analyst's computing task, but also opened up a wide range of analyzes and research into alternative sensitivity, which so far has not been possible. The main potential for object-oriented financial analysis consists in enormously expanding the analyst's capabilities through an online knowledge and information interface that has not yet been achieved through existing methods and software packages.

  6. India emerging: New financial architecture

    Directory of Open Access Journals (Sweden)

    Sankarshan Basu

    2016-09-01

    Full Text Available The global financial crisis of 2007–2008 highlighted the need to re-evaluate several well established tenets in the world of finance. Questions have been raised the world over about the existing paradigm, leading to an acceptance that new financial architecture needed to be evolved and that new models need to emerge, keeping in mind the multiplicity of socio-economic realities that exist round the globe. In this context, the imperative for a new financial architecture in India is quite evident, and the ensuing panel discussion throws up some India-specific issues that need to be explored by the various stakeholders involved in this attempt.

  7. Adjustments to financial and social benefits

    CERN Multimedia

    HR Department

    2010-01-01

    In accordance with recommendations made by the Finance Committee in November 2009 and decisions taken by the Council in December 2009, certain financial benefits have been adjusted with effect from 1 January 2010. An increase of 1.6% has been applied to the scale of basic salaries and to stipends paid to Fellows (Annexes R A 5 and R A 6 of the Staff Rules and Regulations, respectively). The adjusted amounts are available from the HR Department intranet site or from departmental secretariats. As a result of the evolution of the Geneva consumer price index, no adjustments have been made to the subsistence allowances of Paid Associates and Students (Annex R A 7 of the Staff Rules and Regulations). The following social benefits also remain unchanged: Family, child and infant allowances (Annex R A 3 of the Staff Rules and Regulations). Payment ceilings of education fees (Annex R A 4 of the Staff Rules and Regulations). Tel. 70674 (Classification and Remuneration Service)

  8. Financial structure, financial development and banking fragility: International evidence

    OpenAIRE

    Ruiz-Porras, Antonio

    2008-01-01

    We study the effects of financial structure and financial development on banking fragility. We develop our study by using fixed-effects panel-data regressions and by controlling the effects of certain banking indicators. We use individual and principal-components indicators of the activity, size and efficiency of intermediaries and markets. The indicators include data for 211 countries between 1990 and 2003. Our main findings suggest that banking stability is enhanced in market-based financia...

  9. GLOBALIZATION OF FINANCIAL MARKETS AND ISLAMIC FINANCIAL INSTITUTIONS

    OpenAIRE

    KHAN, M. ALI

    2000-01-01

    In this paper, I reflect on the implications of financial globalization for Islamic financial institutions in terms of coordinates selected from both history and theory. I present in outline the 18th century case for and against commerce, the 19th century case for and against a central institution acting as a lender of last resort, and modern theoretical developments in finance and insurance based on the law of large numbers and centered around the notions of arbitrage, naive and efficient di...

  10. Financial stability of banking system in China

    OpenAIRE

    Jiang, B

    2014-01-01

    This thesis aims at investigating the financial stability of China's banking system. Since the banking system is one of the most important financial intermediaries in the financial systems, the financial soundness of banks could secure the stability of the whole financial system. Two of the factors that may significantly increase imbalance of the banking system, and hence affect financial stability of an economy is the accumulated non-performing loans of banks and the macro-economic turbulenc...

  11. Editorial: Special Issue on Financial Planning

    Directory of Open Access Journals (Sweden)

    Mark Brimble

    2012-11-01

    Full Text Available AbstractThe special edition presents current research in the area of financial planning. With the continual upheaval inglobal financial markets (including Australia, the general trend towards self-funded retirement and lessreliance on the state, financial crises and the continual regulatory changes in the financial markets, this issue istimely and topical. This is the third special edition on financial planning, providing an excellent outlet forquality research in financial planning.

  12. The Financial Service as an Economic Category

    OpenAIRE

    Matsuk Zoriana A.

    2017-01-01

    The article is aimed at: systematization of the existing provisions of research on financial service; allocation of the primary, the secondary, and the auxiliary financial services; analysis of the material basis of financial service and its consideration as the sum total of the high and the low material shares; exploration of the issue of cost of financial services. A definition of financial service as the possibility for implementation of a financial interest of market participant has been ...

  13. Financial Innovation: Alternatif 'Menjanjikan' Dalam Dunia Keuangan

    OpenAIRE

    Bertha

    2008-01-01

    Financial innovation has more influences for company and investor who want to borrow or lending. Financial economics, law and regulator, technology change, etc. exactly will be influences successful of financial innovation. Stimulated financial innovation was importance so that could achieve maximum success. Financial market especially capital market also being more efficient and effective. But it had been supported improvement society knowledge about how financial innovation arising, why som...

  14. Emission allowances and mitigation costs of China and India resulting from different effort-sharing approaches

    International Nuclear Information System (INIS)

    Ruijven, Bas J. van; Weitzel, Matthias; den Elzen, Michel G.J.; Hof, Andries F.; Vuuren, Detlef P. van; Peterson, Sonja; Narita, Daiju

    2012-01-01

    To meet ambitious global climate targets, mitigation effort in China and India is necessary. This paper presents an analysis of the scientific literature on how effort-sharing approaches affect emission allowances and abatement costs of China and India. We find that reductions for both China and India differ greatly in time, across- and within approaches and between concentration stabilisation targets. For China, allocated emission allowances in 2020 are substantially below baseline projections. Moreover, they may be below 2005 emission levels, particularly for low concentration targets (below 490 ppm CO 2 -eq). Effort-sharing approaches based on allocating reduction targets lead to relatively lower reductions for China than approaches that are based on allocating emission allowances. For 2050, emission allowances for China are 50–80% below 2005 levels for low concentration targets with minor differences between approaches. Still, mitigation costs of China (including emissions trading) remain mostly below global average. According to literature, Chinese emission allowances peak before 2025–2030 for low concentration targets. India’s emission allowances show high increases compared to 2005 levels. If emission trading is allowed, financial revenues from selling credits might compensate mitigation costs in most approaches, even for low concentration targets. India’s emission allowances peak around 2030–2040 for all concentration targets.

  15. The Financial Flexibility as a Factor of Financial Security

    Directory of Open Access Journals (Sweden)

    Feofanova Iryna V.

    2017-09-01

    Full Text Available The article is aimed at researching the approaches to assessing financial flexibility and the ways to improve it as a constituent part of financial security. Both the external and the internal threats to financial security have been defined. The indicators of assessment of the financial status of enterprise that are being calculated on the basis of value of equity were analyzed. It has been determined that the growth of equity has a positive impact on all coefficients, with the exception of the ratio of non-negotiable assets and the equity funds. It has been suggested that the ratio of non-negotiable assets to equity funds should be used as an indicator of the sufficiency of own capital gains. The relationship between the maneuverability coefficient of the own negotiable capital and the ratio of non-negotiable assets to the equity funds has been considered. It has been found that formation of the own financial resources is one of the main ways of increasing the financial flexibility of enterprises and organizations. A number of measures to increase equity have been proposed; the sources of the equity funds and the factors influencing the money flows have been defined.

  16. Improving the attractiveness of CDM projects through allowing and incorporating options

    International Nuclear Information System (INIS)

    Carmichael, David G.; Ballouz, Joseph J.; Balatbat, Maria C.A.

    2015-01-01

    The paper puts forward a proposal that, within Clean Development Mechanism (CDM) projects, investors be allowed to benefit from options; this will require a CDM rule change. Through the presence of options, the downside risk resulting from low carbon prices and/or low achieved emission reductions on projects can be limited, while any upside resulting from high carbon prices and/or high achieved emission reductions can be taken advantage of. It is demonstrated that the presence of options improves the financial attractiveness of CDM projects, and this is at no detriment to any stakeholder. The flow-on from the proposal is that more CDM projects should be realisable if options are available, and this in turn will lead to reduced global emissions and improved sustainability. The proposal is supported by the necessary theory and is demonstrated on two registered CDM projects, one on hydropower and one on wind power. - Highlights: • The paper proposes that options be allowed within CDM projects. • Introducing options will require a CDM rule change. • Options improve the financial attractiveness of CDM projects. • Allowing options comes at no cost or detriment to any party. • Allowing options is a win–win situation to both society and the project proponent.

  17. Estimation of Influence of the Level of Financial Literacy on the Investment Attractiveness of the Territory

    Directory of Open Access Journals (Sweden)

    Ekaterina Yuryevna Sushko

    2016-03-01

    Full Text Available The article presents a regression model that reflects rational financial behavior of households and allowing to reveal regions with low/high level of financial literacy, which is one of the indicators of financial sector development. Model construction is based on a regression of financial literacy surveys data and a statistical panel data concerning socio-economic situation of 38 Volgograd region’s municipalities during three-year period. The author shows that the level of financial literacy (which used as an indicator of the situation in the financial sector of a particular municipality is not unpredictable. This level depends on objective factors: the level of demographic and social burden on the state and municipalities, the income growth of municipal budgets, the number of financial institutions, material wealth of the population, its business activity, readiness to self-help housing and interest in increasing their knowledge. Therefore, the level of financial literacy can be predicted and even adjusted by the authorities and business representatives using credit, finance, social policy, etc. Financial literacy level is useful for investment attractiveness assessment. In the given paper a ranking of territories’ attractiveness is constructed on the basis of regression model. It is created to help in developing of effective management decisions by business (opening of new branches, launching new financial products and services, etc. and by regional/municipal authorities (whose aim is to improve the quality of life and the level of financial welfare.

  18. Student financial support. An inventory in 24 European countries. Background report for the project on portability of student financial support

    NARCIS (Netherlands)

    Vossensteyn, Johan J.

    2004-01-01

    This report provides a description of the current national systems of student financial support in 24 European countries. It provides information on tuition fees, grants, scholarships, student loans, and indirect student support through students families (family allowances and tax benefits) and

  19. Assessing the Approaches to Classification of the State Financial Control

    Directory of Open Access Journals (Sweden)

    Baraniuk Yurii R.

    2017-11-01

    Full Text Available The article is aimed at assessing the approaches to classification of the State financial control, as well as disclosing the relationship and differences between its forms, types and methods. The results of comparative analysis of existing classifications of the State financial control have been covered. The substantiation of its identification by forms, types and methods of control was explored. Clarification of the interpretation of the concepts of «form of control», «type of control», «subtype of control», «method of control», «methodical reception of control» has been provided. It has been determined that the form of the State financial control is a manifestation of the internal organization of control and the methods of its carrying out; a model of classification of the State financial control has been substantiated; attributes of the first and second order have been allocated; substantiation of methods and techniques has been improved; their composition and structure have been identified. This approach allows to divide general questions of the State financial control into theoretical and practical and, taking into consideration the expansion of the list of objects of the State financial control, will help to improve its methodology.

  20. Corporate Governance and Financial Performance Nexus: Any Bidirectional Causality?

    Directory of Open Access Journals (Sweden)

    Alley Ibrahim S.

    2016-06-01

    Full Text Available Most studies on corporate governance recognize endogeneity in the nexus between corporate governance and financial performance. Little attention has, however, been paid to the direction of causality between the two phenomena, and hence the Vector Error Correction (VEC model, which allows for endogenous determination of the direction of causality, has not been widely employed. This study fills that gap by estimating the nexus and the direction of causality using the VEC model to analyze panel data on selected listed firms in Nigeria. The results agree with the findings of most previous studies that corporate governance significantly affects financial performance. Board skills, board composition and management skills enhanced financial performance indicators – return on equity (ROE, return on asset (ROA and net profit margin (NPM; in many occasions, significantly. Board size and audit committee size did not, and can actually undermine financial performance. More importantly, financial performance did not significantly affect corporate governance. On the basis of the lag structure of the VEC model, this study affirms unidirectional causality in the nexus, running from corporate governance to financial performance, nullifying the hypothesis of bidirectional causality in the nexus.