fiscal year

Examples of fiscal year in the following topics:

• Budget Resolutions

  • The budget resolution must cover the time span of a minimum of five fiscal years, which includes the upcoming fiscal year plus the four following fiscal years.
  • Even though the budget resolution covers at least five fiscal years, the House and Senate Committees on Appropriations receive allocations only for the upcoming fiscal year because appropriations measures are annual.
  • However, Congress has frequently not met this target date since the fiscal year 1977.
  • The Congressional Budget Act also prohibits House and Senate floor consideration of appropriations measures for the upcoming fiscal year before the budget resolution is completed.

• Defining Current Liabilities

  • Current liabilities are usually settled with cash or other assets within a fiscal year or operating cycle, whichever period is longer.
  • A current liability can be defined in one of two ways: (1) all liabilities of the business that are to be settled in cash within a firm's fiscal year or operating cycle, whichever period is longer or (2) all liabilities of the business that are to be settled by current assets or by the creation of new current liabilities.

• Defining Liabilities

  • An example of a deferred revenue account is an annual software license fee received on January 1 and earned over the course of a year.
  • The company's fiscal year end is May 31.
  • For the current fiscal year, the company will earn 5/12 of the fee and the remaining amount (7/12) stays in a deferred revenue account until it is earned in the next accounting period.
  • Long-term liabilities have maturity dates that extend past one year, such as bonds payable and pension obligations.

• The Election Year Budget

  • Budget proposals during election years are usually politicized to gain votes and increase constituency support.
  • Congress which recommends funding levels for the next fiscal year, beginning October 1.
  • The annual budget deficit is the difference between actual cash collections and budgeted spending (a partial measure of total spending) during a given fiscal year, which runs from October 1 to September 30.
  • The 1996 United States federal budget was the United States federal budget to fund government operations for the fiscal year 1996, which was October 1995 – September 1996.
  • The 2016 budget plan President Obama proposed requested 4 trillion in fiscal year 2016.

• The Role of the Federal Budget

  • The federal budget dictates how much money the government plans to raise and how it plans to spend it in the upcoming year.
  • The Federal Budget is the roadmap for how the national government plans to spend its money of the course of the upcoming year.
  • Congress which recommends funding levels for the next fiscal year, beginning October 1.
  • The federal budget also is one mechanism for conducting fiscal policy.
  • The government can choose to expand or contract the budget to conduct expansionary or fiscal policy.

• Income Security Policy

  • Fiscal policy is considered to be any change the government makes to the national budget in order to influence a nation's economy.
  • Any changes the government makes to the national budget in order to influence a nation's economy is considered fiscal policy.
  • This phenomenon set the standard and showed just how necessary it was for the government to play an active role in fiscal policy.
  • As a result of this, the deficit would increase to $455 billion and is projected to continue to increase dramatically for years to come, due in part to both the severity of the current recession and the high spending fiscal policy the federal government has adopted to help combat the nation's economic woes.
  • Analyze the transformation of American fiscal policy in the years of the Great Depression and World War II

• Monetary Policy and Fiscal Stabilization

  • During the fiscally conservative administration of President Dwight D.
  • The growing importance of monetary policy and the diminishing role played by fiscal policy in economic stabilization efforts may reflect both political and economic realities.
  • The experience of the 1960s, 1970s, and 1980s suggests that democratically elected governments may have more trouble using fiscal policy to fight inflation than unemployment.
  • One other reason suggests why fiscal policy may be more suited to fighting unemployment, while monetary policy may be more effective in fighting inflation.
  • The United States has not encountered this situation, which economists call the "liquidity trap," in recent years, but Japan did during the late 1990s.

• France's Fiscal Woes

• Introduction to Monetary and Fiscal Policy

  • It has two main tools for achieving these objectives: fiscal policy, through which it determines the appropriate level of taxes and spending; and monetary policy, through which it manages the supply of money.
  • Much of the history of economic policy in the United States since the Great Depression of the 1930s has involved a continuing effort by the government to find a mix of fiscal and monetary policies that will allow sustained growth and stable prices.
  • But 40 years later, in 1980, the price level was 400 percent above the 1940 level.

• Arguments For and Against Fighting Recession with Expansionary Fiscal Policy

  • Expansionary fiscal policies, which are usually implemented during recessions, attempt to increase economic demand.
  • Expansionary fiscal policies involve reducing taxes or increasing government expenditure.
  • This may in turn reduce aggregate demand for goods and services, which defeats the purpose of a fiscal stimulus.
  • Taxes have not only been a way to initiate fiscal policy intervention, but have also been used to solidify popular approval.
  • Evaluate the pros and cons of fiscal policy intervention during recession