Balanced Budget Amendment

1. I use this lesson to help students prepare for the world after high school by assisting them in understand the purpose of creating and following a budget. 2. The object is to help students create, understand, and use a budget now that they are leaving high school and moving on to their next stage in their life. 3. 12.3.3 Describe the aims of government fiscal policies (Taxation, borrowing, spending) and their influence on production, employment, and price levels. 4. (Augmentation)…

Budget Journal Reflection Over the past four days (Sep 24. Sunday — Sep 27. Wednesday), I made a budget journal in a spear notebook that helps me track my every single expenditure. In total, I spent $168.7 plus 4 Meal Plan swipes in TDR. Although it may seem like an overspending since it only recorded four days, I consider it as a reasonable amount of money. The major part of the total expenditure is consisted of three consumptions only occur occasionally: I spent $50 in Urban Outfitters for…

Dangerous Stratagems According to the Webster dictionary, stratagems is a plan or scheme, especially one used to outwit an opponent or achieve an end.” In the US, federal budget cycle go through many stages before e it is approved. It is executively prepared and then the legislative go over it then approve it, the n the budget is executed and audited. The purposes of budgeting is to give a clear future expenditure. It is to “control, management and planning.” In the management elaborates the…

Personal Finance by Siegel and Yacht, deals with financial budgets (2009). It sheds the light on three types of budgets: the comprehensive budget, the cash flow budget, and other specialized budgets. Each budget is useful in a specific context and they are all helpful to make better financial decisions. b. What are the components of a comprehensive budget and what is the purpose of each component? A comprehensive budget, which is a “budget covering all aspects of financial life […] includes a…

the needs and prioritize them based on urgency when drafting a budget (Yoder-Weiss, 20015). To have an understanding of budgetary goals and how to attain them is the key to having an effective and efficient budget that can handle any emergency that might occur during the fiscal year (Marquis & Huston,…

entities (p. 706). Even though historical information is used to forecast activities, a budget is a tool to plan future transactions (Boyd, 2013). As a result, firms must use various budgets, such as operating and financial budgets to outline an organization’s financial plan. The primary purpose of any company is to maximize profits at the lowest possible cost (VanDebeck, 2010). To accomplish this objective, budgets must meet several requirements, including realistic and achievable goals…

Aligning Issues and Insights In Lapovsky’s (2007) article “Critical Endowment Policy Issues”, an endowment is said to consist of “funds that come from three sources: contributions to the institution, growth from investment returns, and operating budget surpluses” (p. 101). The issue is that “assets differ by endowment size” (p. 102) and how the institution manages…

at Budgeting. #2: We will look at the major types of budget and particularly focus on operating budget. Especially, we will take a close look at operating budget in three parts: forecasting revenue, expenses, and profits. #3: This is my note – Budgeting is a kind of planning to determine a financial plan for a certain period time. There are three types of budget: operation(operating), capital, and cash budget. #4: Particularly, operating budget is a projected financial plan for a specific…

1. Define a flexible budget. Provide an example of how a flexible budget is used in the real world. A flexible budget consists of adjusting expenditures according to the evolution of real incomes. So we get a budget with real results. The flexible budget is restructured according to activity levels, which is why it is a good performance evaluation tool and useful for any planning. Just like its good odds the flexible budget has its disadvantages as well. It may be a good tool but…

Improvised explosive device (IED) attacks in Iraq produced up to 80% of U.S. casualties. Mine resistant and ambush protected vehicles (MRAPs), fielded to route clearance units prior to the war, were designed to protect occupants from IEDs. However, a protracted conflict between the requirements based Defense Acquisition System and the politically charged “moral imperative” to reduce causalities, delayed further MRAP fielding for nearly 3-years. This delay resulted in 1,600 preventable U.S.…