Hi.
1. The commonly used budgetary methods, practices,
procedures,regulations, policies and processes is based on the policy
of "FISCAL POLICY".
According to Harvey and Johnson fiscal policy as "changes in
government expenditure and taxation designed to influence the pattern
and level of activity." The govts throughout the world have started
employing increasingly the instruments in recent decades for the
achievement of economic stability and higher levels of economic
growth.All the budgetary instruments constitude the fiscal policy.
2. The Skill in relating enteries in the budget to the mission,
structure,
goals, work processes, and programs of support activities/organization
(a)Firstly,the apparent ineffectiveness of monetary instruments to
tackle unemployment and depression.(b)Secondly,Keynes "General
Theory", a great landmark in macro economics, with its explicit stress
on raising the level of aggregate demand,socialisation of investment
and public works appeared during the thick of "Great Depression"and
attracted world wide attention of the academicians and the poicy
framers.(c)Thirdly,the increasing significance of taxation and govt
expenditure in the economy's aggregate income and output also assisted
fiscal poicy to come into its own.
3. The Ability to formulate, justify, and execute assigned budget is
based on the disposal of the govt to affect the level of economic
activity is public expenditure which is income creating in
character.This includes the normal civil and malitary spending,capital
expenditure on public works,grants of subsidies,transfer
payments,social insurance payments and spending on account of price
support programmes.
4. The Skills in preparing written form, schedules, and reports
related to
the obligation and expenditures of funds is The idea behind the use of
fiscal policy to combat a recession is that aggregate demand in the
economy is too low and that government policies are needed to
stimulate demand and get people buying. The government can do this
either by increasing spending itself or by cutting peoples' taxes so
that they have more disposable income to spend. Getting households,
businesses,and the government to spend more money has never been a
problem in the United States, but it sure is in Japan.
The related reports are (A)Full Employment (B)Economic Stability
(C)Economic Development & (D)Capital Formation.
Regards,
richard2354-ga |