Introduction Economic growth is defined as an increase in the market-adjusted value of goods and services produced by an economy over a particular period of time. For the sake of convenience, it is measured as the percent rate of the positive change in GDP, gross domestic product. In the modern...
Money as a medium of exchange Money refers to anything that can be used as a medium of exchange. However, how money is defined and used by the non-economists varies significantly from the way it is perceived and used by economists. For instance, employees earn income which they commonly receive...
Money Mechanics Introduction Any society has the option of adopting barter trade. This will be especially possible if the society willing to adopt barter trade produces almost all products and services that are required within the society. In this scenario, different producers will have to link with each other in...
Introduction Globalization has not only become one of the most defining forces of the 21st century but also one of the most impactful drivers of change in the financial sector.1 Several players are involved in the global financial system. Some of them include financial institutions, intergovernmental institutions, and central banks.2...
Introduction Business standards and quality of management are principal areas of changes through which nations can enhance their financial status. Improving the ease of doing business can be achieved through measures that stimulate significant benefits. Small and medium scale enterprises (SMEs) are engines of development, growth, employment, and social union...
Executive Summary This essay analyzed the financial position of a given company based on two financial years, 2013 and 2014. The aim of such analysis was to examine the selected company’s strengths and weaknesses, as well as establish whether or not it could be considered for Financial Services Management. The...
Introduction: Economic System With the lapse of time, relationships between people were becoming more and more complicated due to the fact that the number of ways to store and manage natural resources and the resources that involved the application of human labor was growing. Nowadays, there is a wide range...
Introduction The financial world is a complex system that consists of networks, decision-makers, tax regimes, regulators, policies, markets, institutions, and several other components. The environment that supports financial services plays a major role in determining the financial services that are available in a certain economy and their viable alternatives. Consequently,...
Introduction Government spending occurs in the construction and maintenance of schools, transport systems, health sector, and public safety among other critical areas that are essential in sustaining human lives. The revenue is collected through the imposition of taxes by the local and national governments. The justification encouraging business tax incentives...
Introduction Financial statements are very important because they provide information about an entity’s financial performance and financial position within a given period. According to Hamidah (2013), the primary goal of financial statements is to offer information about a firm’s financial performance and position, which can be used by both the...
Introduction The concept of Islamic finance has undergone considerable expansion over the last few years, as evidenced by the many Islamic Financial Institutions (IFIs), which have been developed across the globe. A study conducted by the Council for Islamic Banks and Financial Institutions (CIBAFI) in 2004 shows that IFIs grew...
Introduction Governments have a responsibility to balance between their country’s expenditure and revenue by formulating and enacting monetary and fiscal policies. Moreover, governments should ensure that they balance between the application of the monetary and fiscal policies to stimulate economic growth. This assertion arises from the view that the implemented...
Background The flat tax rate policy is a policy that has elicited mixed reactions from policymakers, politicians, taxpayers, and governments across the world. The controversy of the flat tax rate lies in the effects on economic growth and fairness among taxpayers. Fundamentally, the flat tax rate is a form of...
