The balance of a government's tax revenues, plus any proceeds from asset sales, minus government spending. If the balance is positive the government has a fiscal surplus, if negative a fiscal deficit.
Fiscal consolidation is a policy aiming at reducing fiscal deficit of government .
In a small open economy such as South Africa which is dependent on imported capital and intermediate goods the balance of payments is an important consideration and should be view as a constraint rather than a policy. In other words should there be a balance of payment deficit policy has to be geared to the elimination of this deficit. Authorities generally use restrictive monetary and fiscal policies to do this. These affect the level of growth and income which in turn lowers the demand for imports. Therefore the scope of any expansionary fiscal and monetary policies are limited by the balance of payments considerations. (ie the balance of payments is a constraining factor)
Fiscal policies deal with finances usually budgets.
features of fiscal
Fiscal assets are the capital revenue for the formulated budget.
Unearned revenue is a liability account. It is revenue that is received in one fiscal period despite the fact that revenue is not earned until another fiscal period. Its normal balance is credit.
Inventory is normally used within one fiscal year that is why it is current asset of business and shown in asset side of balance sheet.
Balance sheet is used normally for 2 years for comparison to find out the performance of company between 2 fiscal years.
Balance Statement
Yes inventory is part of current assets portion of balance sheet as it is usable in current fiscal year for revenue generation.
Inventory is par to current asset at asset side in classified balance sheet as inventory is used within one fiscal year.
Land is show in balance sheet under long term assets as it is usable by business for more than one fiscal year.
Inventory is that amount which is used in current fiscal year for production of goods to revenue generation.
th ending account balances of permanent accounts for one fisical period?
Terry W. Johnson has written: 'Fiscal 1994 general fund and school equalization account fund balance information' -- subject(s): Tax collection 'Fiscal 1991 general fund and state equalization account balance fund balance' -- subject(s): Tax revenue estimating, Estimates, Budget
If motor vehicles own by company and are usable for more than one fiscal year then these are fixed assets and shown in balance sheet
The interest due on a note payable in one fiscal period but not paid until the next fiscal period is called "accrued interest." This interest is recognized as a liability on the balance sheet at the end of the fiscal period in which it is incurred, even though the payment occurs later. It reflects the obligation to pay interest that has accumulated but remains unpaid.