Financial Management Assignment Example | Topics and Well Written Essays - 2500 words

Financial Management - Assignment Example Financial structure refers to the right side of the firms or organizations balance sheet detailing how the assets are financed including debt as well as shares. In other words, financial structure refers to the way in which the organizations assets are financed. Like all other organizations, Manchester fire and rescue service too have a financial structure. The finance of the organization are managed by departmental managers and consists of a team which manages the payroll of the service employees, control the annual budgets as well as provide general financial advice to the managers (Organizational Structure. 2011). The Manchester fire and rescue service in its budget in 2009-10 has set aside 0.9 million pounds for effective governance, 22.2 million for community fire safety, 0.4 million for emergency planning and civil defense, and 95.8 million for fire fighting and rescue operations. Majority of the funds necessary for the purpose would be available from percepts which is money th at is paid by the metropolitan district authority collected as part of council tax. Moreover it also receives funds through national non domestic rates which are businesses rates that are set up by and paid to the government and redistributed based on population. It also receives revenue support grant which is paid by the authorities from national taxation to provide funding to operate local services. Majority revenue share for the fire service organization is expected from national domestic rates. Revenues from percepts and revenue support grants follow. The financial allocations of Manchester fire and rescue services are done through financial annual budgets. Allocations and spending are strictly according to the preplanned budgets. The annual budgets expresses in financial terms the priorities determined by the members of the authority moreover it sets out the plans for service provision in the coming year. The budgets that are prepared reconsider objectives, reassess priorities as well as reexamine the way in which the service delivery is achieved currently. This is because the budgets that are prepared should be in line with the needs of the authority against the cost to local tax payers’ while operating along with governmental guidelines. To get allocation of funds from the government and its agencies all financial plans, allocations and spending should be done according to governmental guidelines. Therefore the authority has developed a three year financial planning process. The government also has a hand to determine the resources that pass through this three year process. The government has announced formula grant for the next three years starting from 2009 to 2011. The average increase in grants will be 1.4%. The collection fund surplus remains at 0.113 million pounds. Given all these increases, the Manchester fire and rescue authority has to frame its own strategies and plans to achieve the planning objectives on the basis of governmental pol icies. Governmental policies should be followed strictly because all major funding for operations are coming from the government. With regard to capital expenditure programme, replacements and upgrades requires resources in excess of supported borrowing approval from the government. There should be separate revenue budgets and capital expenditure programmes. The balance between the revenue and capital budgets is to be determined by the authority to achieve a balanced budget plan. The

Oceania Research Paper Example | Topics and Well Written Essays - 2500 words

Oceania - Research Paper Example Polynesia is made up of more than 1000 islands spread over central and South Pacific Ocean. The occupants of Polynesian are called Polynesians. According to the history, the occupants were sailors who used stars to determine night hours. The land is about 70 million sq miles of Pacific Ocean. Polynesia is made up of two different cultural groups, east and west Polynesia. The culture of west belong to high populations, it is made up of well build institutions of marriage, well developed judiciary, financial and trading traditions. The groups that occupy this area are the Tonga, Niue, Samoa and Polynesian outliers. According to the (Richard, 2011) the eastern part is adapted to small islands such as cook, islands, Tuamotus, Marquesas, Hawaii, and Rapa Nui. The leaders were appointed based on their blood hereditary. The settlement in the area was of two categories, the hamlet and village, the size of an island was the determining factor on whether the hamlet or a village will be build. In the large volcanic islands, the hamlet was mainly built because of many zones; these zones could be divided all over the islands. Villages were established on the coast of small islands and it consist of 40 or more houses. Melanesia extends from Arafura Sea to the western part of Pacific Ocean, and Fiji to the east. The people occupying the region are called Melanesians and are believed to be he ancestors of Papuan speaking people. The number of languages in Melanesia is about 1320 and they are scattered across the land. The leaders were appointed based on the individual personality not through inheritance or blood like the Polynesians. The key components for leadership were power of persuasion, selecting high placed woman as a partner and many other physical factors. Micronesia lies to the Melanesia to the south and to the east is Polynesia; Philippines to the west and Indonesia to southwest. Micronesia is made up of 607 islands and it has four states, Chuuk, Yap, island of Kosr ae and Ponpei. The original languages of Micronesia indigenous people are in a class of Austronesia language family (Richard, 2011). The island was colonized by Spain in 17thcen. Later on the Germans purchased it from the Spanish in 1899. The Japanese fought out the Germans from the island in 1915 but American forces took over from the Japanese during the world war 11. The Micronesia culture is one of the last to develop in the region; it is a mixture of Melanesians, Polynesians, and Filipinos. One of the main ethnic groups in the region is Fijians. Fijians arrived at Fiji when it was already occupied by the Melanesians, but Melanesians was still weak since they were still new in the area. Due to their strong war tools, they managed to fight out Melanesians and occupy the area. Due to the conflict between the two groups, Fiji ends up being a place of relentless and bloody conflict. The early missionaries and traders who visited the islands show the details of extreme violence and ca nnibalism. In the Fijian culture, warfare, cannibalism and religion were interdependent (Richard, 2011). The traditional rights and customs demand bodies and sacrifices to be carried out for the security of the society, at the same time for a war to be carried out successfully; it needs the mediation of priest and the help from