Analyzing a Budget Essay Example | Topics and Well Written Essays - 500 words

Analyzing a Budget - Essay Example In addition, the expenditures are clearly indicated as well as the source of income or revenues. Fortunately, the expenditures have been included in the budget. The budget clearly includes expenditures in. This is clearly seen for example the expenditures seen are salaries and wages, janitorial supplies, legal advertising among others. Still concerning expenditure, the budget has clear tracking of expenditure. It clearly shows the amount of cash and for what purpose it will be used. This has helped greatly to prevent loss of cash from managing officials. Like in this case it clearly shows the amount of cash slotted for wages and salaries, legal advertisements among many others. Another strength of the budget is that it has included the revenue collection of income. A good budget includes the sources of revenues in it (Arthur 2003). However, this might not be so evident in other types of budgets. In this type of budget, source of revenue has been included which can be seen as state appropriation, county appropriation, patient fees, insurance and Medicaid. The budget has also included the actual revenue receipts. A good budget should have evidence of the actual receipts of the expected revenue or the already collected revenue (Sullivan 2003). This as a greater percentage will help reduce the loss of funds in a particular company or country. However, despite all the strengths of the budget, it has several weaknesses. To begin with, there is no summary of the budget. A good budget should have a summary of the incomes, average receipts, total costs, net drawings from revenues, total income, total outgoings or even if available the money for creditors in any case the company or country or family had Higher than the actual receipts obtained from the previous revenue collection. The budget has no item showing savings. A good budget should have a line item showing savings from

Globalization and its affect on the american economy Research Paper

Globalization and its affect on the american economy - Research Paper Example ld economies results in removal of barriers between nations for free movement of goods, services, investments, and also manpower across national boundaries. Practiced as a strategy, globalization results in enhanced economic activities and hence prosperity of all nations and its impact on the US economy is not different, critics notwithstanding. The second half of the previous century witnessed the rapid growth of the US economy in all spheres. It gained position as by far the most powerful nation on earth in economic and military terms, and had a deciding voice in multilateral organizations like the WTO, IMF and the World Bank. High investments in education, research and development, manufacturing and infrastructure coupled with vast natural resources, low population density and a democratic polity resulted in high prosperity of its population. The prosperity put high wages in the hands of its consumers, and consumer spending on food, personal accessories, leisure and entertainment have become important prime movers of economic growth in a self-sustaining way. Being a free market economy, competitive forces ensured that goods and services are offered at attractive prices and/or features, till the market reached a point of saturation. At this point businesses had to look to ever new products, new markets or newer ways of reducing costs, to sustain in business and grow with profits. Globalization, for which the US and other prosperous Western European countries are the strongest advocates through their dominant position in international bodies, can be seen in this background of saturated local markets and declining competitiveness. A few words about ‘post industrial society’ are not out of place at this juncture. The US society is often called the ‘post industrial society’ where the emphasis is on knowledge as opposed to manufacturing (Daniel Bell as quoted by Marshall G, 1998). In other words, knowledge-based services offered by professionals are at a