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What strategies are being taken to mitigate the effects of global financial crisis?
The global financial crisis has damaged many of the worlds largest developed economies, in order to mitigate these effects governments and central banks are exercising their respective powers of fiscal and monetary policy. An example of monetary policy in action is the decline in interest rates. Monetary policy is undertaken by the reserve (or central) bank of a country; to lower interest rates is known as an (defensive) expansionary open market operation. Essentially the reserve bank cracks open the economy and injects primary liquidity (money) into the financial system. The increased supply of money relative to demand, lowers the interest rate, essentially "targeting the cash rate". With lower interest rates credit markets can be unfrozen and money can readily exchange hands again. Not to mention home loans and car finance looks far more attractive also.
Fiscal policy on the other hand is action undertaken by the government, specifically its treasury arm; this is were the stimulus packages that are being rolled out worldwide originate from. The treasury basically raises funds (usually through tax revenue) and attempts to "kick start" the economy again by spending this money on projects such as infrastructure. This comes with the hope of creating jobs (lowering unemployment) and creating household income to be spent on consumption. The theory is a multiplier effect then takes place, (as one mans spending is another mans income), so money begins to trickle again throughout the economy.
The most painful part of the financial crisis' effect has been the recession caused. The negative growth is attributed to deflation and rising unemployment. Fiscal and monetary policy aim to promote growth within an economy, and much empirical evidence points to that it does indeed do this.
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How long will it take the state of California to pay a California state tax refund?
Because of the financial crisis, the state of California is reported in February 2009 to have stopped sending out state tax refunds. When they resume will depend on politics and their financial condition.
How much is Europe in debt?
I suppose you mean public (government) debt?The 27 countries in EU had a total public debt of 10.8 trillion USD in 2007, 58% of GDP. (Debt in Euro for 2007, converted to USD at today's exchange rate.)For comparison, USA had public debt of 11.2 trillion USD in June 2009, 81% of GDP.Public debt in Europe has presumably increased since 2007, as European governments have dealt with the financial crisis with public spending much like USA has. So the numbers given here aren't really comparable (Europe pre-crisis and USA post-crisis), but I couldn't find more recent data for Europe.Although as a first approximation, the level of public debt seems to be similar.See related links, including the list of countries by public debt (2008 data).
How safe is TD Ameritrade?
FACTS Owned jointly by TD Bank in Canada AMTD has their own balance sheet and stock They have been around for years and years under the name TD Waterhouse TD Bank would not let their name be ruined if AMTD did start having problems TD Ameritrade is one of the safest out there, if not the safest today. TD Ameritrade is SIPC insured and has has excess insurance through Loyds of London. TD Ameritrade offers a FDIC insured money money fund for settlement and cash TD Ameritrade does not have any direct exposure to the mortgage crisis = Answer = is very "Safe"
A recommendation for taxation in the Philippines?
Double taxation is just one of the many issues surrounding the Philippine tax system. Problems with our tax system, however, appear to be more related to collections. According to Benjamin E. Diokno, professor of economics at the University of the Philippines, the biggest contributor to the country's fiscal crisis is the progressive decline in the tax effort and the growing unresponsiveness of the tax system to changes in economic activity. Mr. Diokno describes our present tax system as "low yielding, complicated and inflexible". In his opinion, our tax system needs a major overhaul, not just some minor tinkering. This is from some site. -Alyssa P.
How does human resource accounting help the organization in its efforts for development of employee?
Human resource is an important asset in the organization whose value goes on increasing with its right placement, application and development in the organization. In spite of vast physical resources with latest technology, an organization may quite often find itself in financial crisis if it does not have the right persons to manage its affairs. Thus human resource is a very valuable asset for the organization which aims to progress in all directions amidst heavy competition. Though the concept of Human resource Accounting is very old, organizations have-not made any effort to assign ay monetary value to this in their accounting practice till the recent past. The real efforts for viewing the human resource as an asset was started by behavioral scientist from 1960 onwards who tried to develop appropriate methodology and procedure for finding out the cost and value of the people in the organization. They attached the failure of conventional accounting practice to value the human resource of an organization along with material resources. Hence, human resources were identified as the value of production capacity of an organization, and the value of customer goodwill. There are two major reasons why human resource accounting has been receiving so much attention in the recent years. a) There is genuine need for reliable and complete management of human resources. b) Traditional framework of accounting is in the process to include a much broader set of measurement than was possible in the past. c) People are the most important assets of an organization and yet the value of this asset does not appear in financial statements. This information does not get included in management information systems. Conventional accounting of human resources consists of taking note of all expenses of human capital formation which does not seem either to be correct or meeting the actual needs. Human resource accounting, in simple terms, means accounting for people as the organizational resources. Human resource accounting is the process of identifying and measuring data about human resources and communicating this information to the interested parties. It is the measurement of the cost and value of people to the organization. It involves measuring costs incurred by private firms and public sector units to recruit, select, train and develop employees and judge their economic value to the organization. Objectives of HR Accounting The objective of HRA is not merely the recognition of the value of all resources used by the organisation, but it also includes the management of human resource which will ultimately enhance the quantity and quality of goods and services. The main objectives of HR Accounting system are as follows: a) To furnish cost value information for making proper and effective management decisions about acquiring, allocating, developing and maintaining human resources in order to achieve cost effective organisational objectives. b) To monitor effectively the use of human resources by the management. c) To have an analysis of the human assets i.e. whether such assets are conserved, depleted or appreciated. d) To aid in the development of management principles. and proper decision making for the future by classifying financial consequences of various practices. e) In all, it facilitates valuation of human resources recording the valuation in the books of account and disclosure of the information in the financial statement. f) It helps the organisation in decision making in the following areas: Direct Recruitment vs. promotion, transfer vs. retention, retrenchment vs. retention, impact on budgetary controls of human relations and organisational behaviour, decision on reallocation of plants closing down existing units and developing overseas subsidiaries etc. Advantages of HR Accounting Human Resource Planning anticipates not only the required kind and number of employees but also determines the action plan. The major benefits of HR accounting are: a) It checks the corporate plan of the organisation. The corporate plan aiming for expansion, diversification, changes in technological growth etc. has to be worked out with the availability of human resources for such placements or key positions. If such manpower is not likely to be available, HR accounting suggests modification of the entire corporate plan. b) It offsets uncertainty and change, as it enables the organisation to have the right person for the right job at the right time and place. c) It provides scope for advancement and development of employees by effective training and development. d) It helps individual employee to aspire for promotion and better benefits. e) It aims to see that the human involvement in the organisation is not wasted and brings high returns to the organisation. f) It helps to take steps to improve employee contribution in the form of increased productivity. g) It provides different methods of testing to be used, interview techniques to be adopted in the selection process based on the level of skill, qualifications and experience of future human resources. h) It can foresee the change in value, aptitude and attitude of human resources and accordingly change the techniques of interpersonal management Limitations of HR Accounting Human Resource Accounting is the term used to describe the accounting methods, system and techniques, which coupled with special knowledge and ability assist HR management in the valuation of personnel in financial terms. It is based on the assumption that there is great difference among the employees in their knowledge, ability and motivation in the same organization as well as across organizations. There are some who produce more, understand faster and show efficiency in training programmes as compared to others. HR accounting facilitates decision making about the personnel, either to keep or dispense with their services or to provide training accounting development and application in different industries and organizations has not fully grown. There are many limitations which make the management reluctant to introduce HR accounting in their organizations. Some of these limitations are given below: a) There is no proper clear-cut and specific procedure or guidelines for finding cost and value of human resources of an organization . b) If the period of existence of human resource is uncertain, valuing them under uncertainty in future would be unrealistic c) There is a fear that HR accounting may dehumanize and manipulate employees. For example an employee with a comparatively low value may feel discouraged and develop a complex which will affect his competency to work. d) The much needed empirical evidence is yet to be found to support the hypothesis that HR accounting as a tool of the management facilitates better and effective management of human resources. e) In what form and manner, their value to be included in the financial statement is the question yet to be classified on which there is no consensus in the accounting profession. f) There is a constant fear of the opposition from the trade unions that placing a value on employees would make them claim rewards and compensation based on such valuation. g) As human resources are not capable of being owned, retained and utilized, unlike the physical assets, there is a problem for the management to treat them as assets in the strict sense. h) Inspite of its significance and necessity, tax laws do not recognize human beings as assets.
Why did the financial crisis occur in 2008?
why financial crisis occur why financial crisis occur
What is the financial bailout package crisis?
There is no such crisis as the financial bailout package crisis. the bailout was created to overcome the financial crisis.
What are the exact dates of the 2008 financial crisis?
There is no exact date for the 2008 financial crisis. A financial crisis is a series of mishaps that happen together to cause a crisis.
Where did the global financial crisis start?
The origin of the Financial crisis was in the United States.
When was Kingfisher Airlines financial crisis created?
Kingfisher Airlines financial crisis was created in 2004.
What southern European country is experiencing a financial crisis 2012?
Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.Greece is the country in southern Europe that is having the biggest financial crisis in 2012. To a lesser extent Italy, Spain and Portugal also are having a financial crisis, but not as bad as Greece.
What is the difference between a financial crisis and an economic crisis and which of both affects the other most?
A financial crisis is when wall street and the banks are failing. An economic crisis is when there is high unemployment or a recession.
What major event was happening when Obama was president?
This is probably the US financial and mortgage crisis.
How do you stop financial crisis?
There are a few ways to stop yourself from having a financial crisis. Watching your spending, budgeting your money correctly, and having money in a savings account, can help prevent a financial crisis.
What factors contribute to a financial crisis?
Depending on what kind of financial crisis is being described for example; large scale financial crisis such as businesses and communities or small scale such as personal financial troubles. On a personal level not having enough money to live of for necessities is a crisis. For large scale like a community if the economy is bad then that is a big problem as well.
Five example of contrast lead?
*Financial Stability vs. Economic Uncertainty *Educational Inequality *Healthcare Disparities *Climate Crisis Effects *Digital Divide
Do you agree that we are now in the economic and financial crisis?
Yes I do believe we are in a economic crisis
