Where does it come from and where does it go?

Article Abstract:

The UK Treasury's 'Financial Statement and Budget Report' fails to provide a readily understandable picture of how government spending is apportioned. Moreover, the Treasury's report, which is better known as the Red Book, fails to provide a clear summary of where the government obtains the revenues it uses for its expenditures or, for that matter, how the borrowing requirement is computed. Indeed, so misleading is the reporting approach used by the Treasury that an uninformed observer would conclude that the UK spends only 11 billion pounds sterling on education when the real figure is closer to 30 billion pounds. Likewise, the report gives the impression that the health budget is only 32 billion pounds when it is closer to 40 billion pounds. The Red Book further complicates the issue by giving figures in terms of control totals instead of distinguishing between local and regional spending.

Legislative Bodies, Budget, Reports, Column, Government spending policy, United Kingdom. Treasury

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Mobilizing help

Article Abstract:

The Foundation for Accountancy and Financial Management is working to promote the development of the fields of accounting and financial management in the emerging economies of central and eastern Europe. The charitable organization was established for this purpose by five of the major accounting bodies in the UK and Ireland. It has raised 220,000 pounds sterling to fund its projects, with 130,000 pounds already allotted to 60 programs. These include launching bookkeeping courses in Russia, supporting joint accounting associations in Poland and the Czech Republic, sponsoring a visit by representatives from Serbia and financing a trip by an information technology expert to Slovenia.

Accounting, Eastern Europe, Central Europe

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Three-way path to fair analysis of performance

Article Abstract:

Budgeting techniques are discussed as methods for controlling fixed and variable costs, and direct and indirect expenses. The classification of expenses as either controllable or uncontrollable is also explained. Methods for determining each operating unit's profit contribution are identified and analyzed.

Management, Business budgets, Managerial accounting

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