What Is Role Of Ministry Of Finance Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1311 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Answer: The Role of ministry of finance is to prepare the yearly government budget, in coordination with the other ministries and public enterprises. Thus the main motive is to collect money in form of tax from the people and then spend it again back on people. This is a kind of process where money is collected from rich and spent on the general public. While the tax money is collected in the government treasury they are mostly spent on public welfare projects, defense, paying income to the government officials. Thus the role of Ministry of Finance is to back the government and its local bodies with finance related requirements meant to fulfill the public services and welfare projects. Therefore the main purpose is to implement such policies and implement such regulations as to fulfill the monetary related requirements of the government. Not only that the Ministry also takes care of its International deals and debts which are made for the security and developme nt of the country. How does the Ministry interact with other governmental entities? Answer : The ministry interacts with other government entities in written documents consisting of orders, request and appointments that are bound to be taken. An operation coordination unit is also kept in the Ministry so as to channelize the easy flow of information within the ministry to the concerned departments.There is a hierarchy like situation where in the concerned secretaries of the Ministry takes orders and respond from their respective departments. This hierarchy is classified as follows. Level I. Ministry of finance Level II. This level includes the Secretaries of different departments. These includes Public revenue, financial affairs, economic affairs, resource and info, Audit and follow up director, Legal affair s office, Quality management secretary, and Operations coordination unit Level III. The Secretaries have their respective departments consisting of corporate tax directorate, value added Tax directorate, budget directorate, treasury directorate, financial system directorate, project directorate etc. Which departments are dealing with government entities? There a number of departments that are dealing with the government entities. These include the followings departments. The Budget Directorate Economics study and research directorate Financial system development directorate The Project directorate Treasury directorate External Economic relations directorate Human and Financial resource directorate Privatization and Outsourcing directorate The role of each department dealing with government entity? Answer: The role of each department dealing with the government entity is a follows. The Budget Directorate who deals with the fixing budget amount that is required to be collected from the people in form of taxes to finance the government projects meant for public welfare and growth. Economics study and re search director works evaluation of the economic conditions of the country in comparison with the other countries. This way this department suggests the government to take appropriate actions in certain fields in the form of investment to keep the pace of growth. Financial system development director helps in directing the methods of taxing and fixing the percentage of taxes that should be levied. The Project directorate is entitled with the job of fixing the amount required for financing a project. Therefore he has to work as facilitator to finance and control the project cost until it is completed. Treasury directorate takes full care and record of the money being collected from the taxes. The movement of money occurs with proper instructions from the government head office. External Economic relations director helps in directing the government regarding the finance required to continue the projects with participation of other country. Human and Financial resource d irector helps the Ministry to decide on how much to spend on the Human Resource of the country and what are the requirements of the Human resource so as to make it competitive and capable enough to meet the International requirements. Privatization and Outsourcing director suggests the government to take appropriate actions which could help in the movement towards privatization through which the state is going to take out its finance and allow the private companies to take the public companies ahead. Also outsourcing helps the Ministry to complete its project by hiring people from other countries where the labor is cheaper. Foreign Economic Relations Directorate (FERD) is entitled with responsibilities related to various matters. Moreover the all competent authorizes matter including the matters related to the followings. Exchange of information (EOI), Certificate of residence (COR) and Mutual agreement procedures (MAP). What is the accounting system used by govern ment entities? Answer: The government entities use the Organization for Economic Cooperation and Development or the OECD manual for the implementation of Exchange of Information provisions of tax purposes. Thus itacirc;â‚ ¬Ã¢â€ž ¢s an FERDacirc;â‚ ¬Ã¢â€ž ¢s approved format where in all the departments of the government has to follows the same principles and report their financial statements. Thus the OECD manual helps in the implementation of the exchange of information provisions for tax purpose. What is the standard finance manual? Answer: The Standard finance manual sets the financial and accounting policies and procedures which are related to the finance. Thus these manual helps in controlling and recording of various assets, liabilities and other fund properties. Along with that the manual helps in fulfilling the commitments of the government of the Kingdom of Bahrain. The manual is often revised and features are added as per the demand of time. Thus amendment s are often seen in this manuals. Why is it published? Answer: The Standard finance manual are published with a view to meet the following requirements. To pen down the properties, funds and other assets in the Kingdom of Bahrain so as to save it from any fraud, negligence or becoming part of any dispute. To record all such transactions in the government records so that tax collection later on can be facilitated. To bring all the transactions at a certain level where they become generally acceptable and meet the International requirements regarding its reporting and method of recording. To keep the records clear and easily understandable. To bring a high level of consistency of accounting treatment through the available records helping in the decision making process of the government and its related departments. To keep a record of earnings and expenditures of the public fund collected through taxes. To figure out the requirements and obligations that are being a matter of concern. To make a financial policy which deal with the requirements of finance in the next financial year. Whoacirc;â‚ ¬Ã¢â€ž ¢s responsible to publish standard finance manual? Answer: The Ministry of Finance is responsible for publishing the finance manual. Actually through this publications only the financial needs and requirements, the financial transactions of different departments and all other matter related to financial reporting is controlled by the Ministry of Finance. Thus Standard finance manual acts as not only administrator but also controller of following the accounting process of recording, analyzing and reporting the financial statements as per the International methods. Conclusion. In the end, we can say that the Ministry of Finance is entitled with the responsibility of taking care of all the things related to finance. Later on it issues standard finance manual so as to prefix a certain method of reporting the financial state ment by different departments so that its easier to understand by everyone and follows the generally acceptable rules being administered by the International community related to reporting of financial statements. Reflection and impression of the subject. The reflection and impression of the subject from the above we can evaluate the various benefits of reporting the financial transactions by government institution and in this case Ministry of finance and its various departments. These are as follows. A common framework to enable review, analysis and interpretation of financial information across entities, countries and regions Transparent, timely, reliable financial information to the general public creating confidence in the government. Access to efficiently priced capital is key to economic growth Don’t waste time! Our writers will create an original "What Is Role Of Ministry Of Finance Finance Essay" essay for you Create order

How Is Dramatic Tension Created in the Trial Scene of the...

How does Shakespeare create dramatic interest for the audience in the trial scene, Act 4 scene 1 in ‘The Merchant of Venice? In the trial scene (act 4 scene 1), Shakespeare uses many different dramatic techniques to make the tension in the court room rise and build. He also uses dramatic irony and many other techniques to engage an audience in this particular scene in the play. These techniques would work have worked on an Elizabethan audience or a modern day audience. Although, these two eras do not share the same views on some of the things Shakespeare wrote about, the same mood and ideas are given across through Shakespeares use of dramatic techniques. The previous knowledge which the audience holds about the previous acts and†¦show more content†¦The audiences tension and general interest in the scene would have built up because they are now beginning to understand just how much Shylock wants Antonios flesh. The idea of him being determined to receive the pound of flesh is repeated over and over so that the audience understands Shylocks stubbornness and his determination. The dramatic tension continues building when Portia or ‘Balthazar enters the court. Balthazar is the doctor who can save Antonio from Shylocks bond. The tension rises as the audience wonder if she will be recognised by her husband, Bassanio. Because Venice is a male dominated society, Portia and Nerissa had to dress as males to enter and to be accepted into the society. In order to leave Venice, Jessica (Shylocks daughter) also had to dress as a male. This shows that women are not accepted into the society and to gain any respect around the men, they too have to become males. This is interesting and creates dramatic interest in the scene because it would be interesting for the audience to see if Portia can save Antonios life and outsmart Shylock at the same time. The audience will be interested in the scene because they will wonder if the women will get away with tricking their husbands and if Antonio or Gratiano realise that they are in fact their wives. Portia holds some of the qualities of a man (quick thinking, intelligence and wit), and this is interesting to the audience as they can see her act as a manShow MoreRelatedThe Trial Scene in The Merchant of Venice Essay1010 Words   |  5 PagesThe Trial Scene in The Merchant of Venice Written between 1596 and 1598 The Merchant of Venice is not one of the most performed plays written by William Shakespeare. The play is classed as one of the sixteen comedy plays and most productions often use modern times and dress. It was performed in front of an audience who were not very well educated but the issues being raised in the play would have been understood. 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As they rode along, Jim revealed his plan to send Langston to a university in Europe where he could study mining engineering and return to

Winterkill Free Essays

Wintertime In wintertime the story starts of depressing and explaining how the narrator and Harley Reeves have both been laid off from their jobs. Then he goes to the bar and notices a girl who is there and his friend Troy Just has to pick up on her and uses a corny pickup line. Troy Is In a wheel chair due too smoke Jumper’s Injury, The lady at the bar was named Nolan. We will write a custom essay sample on Winterkill or any similar topic only for you Order Now As the conversation carried on and got a little more personal troy invited Nolan to go fishing with him and his friend. Nolan agreed to go fishing and then get dinner. They made their way out to the river and Less and Nolan began to talk about how cold It was and that led to Nolan telling him to warm her up. Just before they were going to warm each other up they heard a weird noise and It was Troy struggling while fishing for some reason. It turns out that troy has snagged a big fish and the tension slowly pulled him out of the chair and he was slowly being dragged on his chest down by the water. Troy was saying that he caught the big one and he needed help. Troy pleaded with Less to help him catch the fish because he did not want to let it go. So Troy and Less struggled and pulled on the line as hard as they could for what seemed like minutes and they could not get it to budge. Less kept going farther out In the water until he got to where the line was snagged and he realized that It wasn’t even a fish and Troy had gotten his line caught on a dead deer. This did not make Troy happy at all because he always thought fishing was his thing and he just got tricked by a dead animal that shouldn’t have even been in the water. They all ended up going inside and having the chicken with wine and talked on throughout the night. Snagging the deer was a confidence killer for Troy. After that he watched Harley Reeves and his mother dance to end the night, he enjoyed seeing her happy. â€Å"And I thought about the matter of trust. That I would always lie if it would save someone an unhappiness. That was easy. And that I would rather a person mistrust me than dislike me†¦ † (pig. 169) I could relate to this quote because I understood what It meant. But I did not agree with it. Retry much this salsa that they would rather beat around the bush and lie instead of be straight up with a person and just tell hem the truth no matter what it is or what affect it will have on the person. I believe in being very blunt with people and It can never turn into a negative thing if you are honest Instead of passive and always trying to say the next thing to please someone. Movie Essay The first time I saw Friday Night Lights, I was impressed by the movie and also as a fellow athlete that was playing football at the time. Friday Night Lights is a movie that takes place in Texas at a high school called Permian in Odessa, Texas and it was indented to show the true intensity and stress of being a Texas high school football player and the pressure that is on them to succeed and not only win the state title but to earn a scholarship to play at a division 1 athlete. Instantly I understood and respected the passion that was portrayed by the actors. Not only was It socially correct, the director did not skip out on showing the work that goes in before the 1 OFF field. I appreciated the detail and excitement that was created during their Journey to the state championship and everything that happens in-between. A lot of people have said that Friday Night Lights is an extreme portrayal of a sports movie. As an athlete that has played multiple sports for 10+ years it could not be more accurate. The intensity and seriousness of high school football in Odessa Texas was a well kept secret to the majority of the public and this movie shed light on a lifestyle that most high school kids never knew existed. This movie shows the true passion of anyone who loves a sport and is willing to go through anything or anyone and sacrifice their body to achieve their ultimate goal and that is to win a championship. I think this is a movie that every athlete should watch no matter what their sport is because it portrays athletes that have heart, drive, commitment and a never ending passion for the sport that they love. This movie took place in the late ass and speaking from a sports point of view not much has changed. The main character of the movie is the star running back Booby Miles. He is a god gifted athlete who has an ego as big as his linemen. Throughout the Movie Booby’s cockiness grows but with good reason because he has earned himself the title of the umber one running back in the state and is the motor that pushes his team’s offense into the end zone every game. The only down fall for Booby Miles and the Permian Panthers is that they are severely undersized but are gifted with speed. I understood how this would affect the movie and the team because any athlete’s goal while playing the sport is to become as big and strong as possible and sometimes it is a lot easier said than done but it is something you constantly work at and stress about. The social life of the teenagers in the movie was not shied away from. The Director wanted to give the viewer the full picture. Many times throughout this movie there will be scenes where these high school athletes are being confronted by people in the community asking for their autographs and being told that they are their wives favorite players. A lot of pressure is put on these young kids by the community while out in public and they are reminded all the time that the season will be a waste if they do not win the state championship and they are constantly reminded that they are severely undersized compared to the boys on the there side of Texas. I never experienced pressure this big from the community but I can relate because it seemed like every time I would have my baseball gear on from my high school or some football apparel I was always asked the same tired question â€Å"you guys going to get it done this year† or â€Å"those are some big boys with Del scholarships you think you can hang† these questions always added fuel to my fire that I kept deep down in my stomach because we were always portrayed as an underdog like Permian no matter how much we won. I did not mind that role but sometimes I think there was some recognition that was deserved but never received. Friday Night Lights was a great portrayal of how much an athlete will sacrifice Just to win a championship. Friday Night Lights showed the true hard work and dedication that it takes to be one of the best teams. When Booby Miles gets injured and cannot play for the rest of the season it made me realize that you should never take a play or game for granted because all it takes is 1 play for your whole career to be ended and oh can lose everything you have worked for your whole life. The roller coaster story I never thought of it as unrealistic one time during the move and that is rare because a lot of sports movies are predictable and not realistic portrayals of an athlete’s life. My whole life has consisted of playing sports and being an athlete and there are a lot of misconceptions and thoughts that every athlete’s talent is god given. That is why Friday Night Lights is such a good movie to get the true perspective because it is based on a true story and actual events. Nothing is sugar coated nor is it over traumatized. Friday Night Lights does not have that story book ending where the underdog team puts in all the hard work and beats the best team. In the movie the Permian Panthers lose in the state championship. This was the most realistic part of the movie because it doesn’t always end with you on top no matter how much work and heart you put into things. Minus the depressing ending Friday Night Lights is a attention grabbing story that will keep you guessing all the way until the end. How to cite Winterkill, Papers