fundamental principles of public finance

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1、CHAPTER1FundamentalPrinciplesofPublicFinanceWhydopublicmanagers,whethertheyworkforthegovernmentorforanot-for-profitorganization,needtostudypublicbudgetingandfinance?Hereisyourtoptenlistofsomeprettysignificantreasonsforthispursuit:1.Theymustmakechoicesabouthowresourcesareutilizedandworkingthrought

2、hefinancesgivesagoodstartinorganizingtheoptions.2.Theyoperateinthepublictrustandneedtobeabletocontroltheuseofpublicresources.3.Theyneedtomakesuretheydon’trunoutofmoneybeforetheyrunoutoftheservicethatneedstobeprovided.4.Theyneedtomakeacasefortheresourcesappropriatetoprovideservicestotheirconstitue

3、ntsandclientstolegislativeandexecutivebodies.5.Theyneedtounderstandthecasebeingmadebyothermanagers.6.Theydon’twanttogotojailformisuseofresourcesthatbelongtothepub-licortotheirorganization.7.Thepeopleinanyorganizationwhoactuallyunderstandwhattheorganiza-tionisdoingarethepeoplewhounderstandthefinan

4、cesoftheorganization.8.Not-for-profitorganizationsfrequentlyhaveabysmalfinancialmanagementpracticesinplace.9.Governmentcrises,regardlessofwhetherthegovernmentlevelisnational,state,orlocal,oftenhavefinancialunderpinningsthatcouldhavebeenavoidedwithbetterbudgetsystemsandmechanismsforfinance.10.Itis

5、simplyfuntounderstandwhatisgoingoninpublicorganizations,andunderstandingfinanceisthemostimportantsinglestepingainingthatunderstanding.Unlessyouhavenointerestinprovidingservicestopeoplethroughthepublicsector,atleastoneitemonthislistofreasonswillresonatewithyou.Ifnonedoes,thenyouprobablyneedtorecon

6、sideryourprofessionalgoalsandobjectives.When12ChapterOne:FundamentalPrinciplesofPublicFinanceyouhaveworkedthroughthechapters,cases,andexercisesthatfollow,youwillhaveatleastastartatdealingwitheverythinginthatlist.Youshouldunderstandattheoutsetthatpublicfinanceisnotthesameasbusi-nessfinance.Publicf

7、inancedoesborrowliberallyfromthetoolsandconceptsofbusinessfinance,butthesearenotalwaysusedinthesamewayandoftennotforthesamereasons.Onedifferenceisinultimateobjectives.Financialmanagementinbusinessseekstoincreasethevalu