Introduction To Public Administration–MGT111 VU LESSON 01 INTRODUCTION 1. 2. 3. 4. 5. 6. 7. The course on Public Administration/Management has following objectives: Understand the concept of public administration/ management/organization Understand the evolution of the concept of public administration and its importance Understand the role of government Understand the role and core functions of public manager Understand the structure of government /organizations Create understanding about the
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APPENDIX 1 INTERGOVERNMENTAL RELATIONS IN FEDERAL SYSTEMS INTERGOVERNMENTAL RELATIONS IN FEDERAL SYSTEMS 1 Introduction 1 2 FEDERAL SYSTEMS 3 3 WHAT ARE INTERGOVERNMENTAL RELATIONS? 4 4 AUSTRALIA’S FEDERATION – HOW IS IT OPERATING? 5 5 INTERNATIONAL COMPARISONS 8 6 INTERNATIONAL FEDERAL SYSTEMS: A BRIEF OVERVIEW 9 7 7.1 7.2 7.3 7.4 7.5 PRINCIPLES OF INTERGOVERNMENTAL RELATIONS EFFECTIVENESS TRANSPARENCY
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The Report Sole Proprietorship: * Liability - Unlimited Liability, the owner is personally liable for all the business debt and obligations. There is no legal distinction between owner and business. * Income Taxes - Tax planning can be difficult to take advantage of lower income tax rates, due to all the income generated by business is treated as personal income. * Longevity/Continuity - As long as the owner is alive the business can continue. * Control – The owner has full
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makes all the decisions and does not have to engage a legal department to approve contracts. The owner of such a business can only use personal funds even though he or she may have separate checking and savings accounts for the business. The first characteristic of this form of business enterprise is liability. A sole proprietor suffers from unlimited liability. The owner becomes liable personally for all the obligations and debts of the business. The second characteristic is income taxes. Businesses
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with the Generally Accepted Accounting Principles (GAAP). Financial statements are the major source of financial information that would help management, creditors, and investors in their decision making. Financial reporting is one of the responsibilities of the company in communicating financial information, which guides in investment and credit decisions, assessing cash flow prospects, and about company’s resources, and claims to its resources. Accrual and cash basis of accounting are the methods
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are several major advantages to operating a business as a sole proprietorship, and they include the following: • Forming a sole proprietorship is easy and does not cost a lot. • No federal or state government approval is required. • The owner has the right to make all management decisions concerning the business, including those involving hiring and firing employees. • The sole proprietor owns all of the business and has the right to receive all of the business’s profits
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make decisions. Own hours, grow as big or stay little. Owner decides. | Two Disadvantages | If owner dies business dies. Only one person hard to raise capital.Because it is one person, if you don’t have individual wealth the business will have to suck funds from somewhere else. | Liability | Owner is 100% liable for the business, no difference between owner finances and business finances. | Income taxes | Taxes are same as owner/business. You would pay taxes through owner’s income. Taxes are
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corporation, depends on how much your federal income tax will be. There are different types of corporations and many different partnership types. There are two different types of corporations. You have the C Corporation, which has the toughest tax bracket; you are subject to double taxation. The first tax is on the company's net earnings, and the second tax is that each shareholder must pay tax on his or her dividend. A C Corporation can reduce or eliminate its federal income tax liability by distributing
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(others can be employed to help run the business) as the sole proprietorship only monetary income is from the business, you don't receive a paycheck. If you need money for living expenses, you take a draw. A Sole Proprietor, personal and business taxes are not separated. Therefore, your tax return will include business profit/ loss, as well as other personal income on your 1040. Also it's hard to raise capital to expand your business. These types of businesses are located in the small business sector
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something covert or informs against another. The decision to blow the whistle on work place malfeasance is not an easy one and not a decision one takes lightly. While this person does have the opportunity for financial gain, they also have an internal desire to right a wrong. They have to have the ability to preserver through personal and professional suffering. Their reputation can be damaged and they may be branded a snitch. Before making the decision to bring the misdeeds to light a whistleblower
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