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Public finance is the study of the role of the government in the economy. [1] It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. [2]
Public budgeting. Public budgeting is a field of public administration and a discipline in the academic study of public administration. Budgeting is characterized by its approaches, functions, formation, and type. Authors Robert W. Smith and Thomas D. Lynch describe public budgeting through four perspectives: incrementalism, comprehensive ...
Public finance is the branch of economics that deals with the management of public resources, taxation, and expenditure by governments and other public institutions. It covers topics such as fiscal policy, government spending, public budgeting, and public debt. Learn more about the theory and practice of public finance from Wikipedia, the free encyclopedia.
Finance is the study and discipline of money, currency and capital assets. [a] It is related to but distinct from economics, which is the study of the production, distribution, and consumption of goods and services. [b] Based on the scope of financial activities in financial systems, the discipline can be divided into personal, corporate, and ...
Fiscal sustainability. Fiscal sustainability, or public finance sustainability, is the ability of a government to sustain its current spending, tax and other policies in the long run without threatening government solvency or defaulting on some of its liabilities or promised expenditures. There is no consensus among economists on a precise ...
Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
The Public Finance Management Act, 1999 ( PFMA; Act No. 1 of 1999) is the primary public finance management law in South Africa. It delineates standards for expenditure, accounting, and reporting for public entities. Its scope is generally limited to entities of national and provincial governments.
In economics and political science, fiscal policy is the use of government revenue collection ( taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach ...
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