"Transparency is important since it is one of the theoretical conditions required for a free market to be efficient."
Budget reporting and transparency refer to the process of communicating budget information to stakeholders in an open and accessible manner. It includes various aspects such as financial reporting, performance reporting, and citizen engagement.
Public Budgeting: The process of creating, implementing, and evaluating a budget for a public entity.
Budget Cycle: A series of steps involved in the budgeting process, including developing a plan, allocating resources, and monitoring performance.
Budget Reporting: The process of communicating financial information to stakeholders in a timely and accurate manner.
Financial Management: The process of managing financial resources effectively to achieve organizational goals.
Fiscal Policy: The strategies and tools used by governments to promote economic growth and stability.
Performance Management: The process of measuring, monitoring, and improving organizational performance.
Accounting Principles: The basic principles and standards that guide financial accounting practices.
Transparency and Accountability: The principles of openness and disclosure of information to the public.
Cost Benefit Analysis: A method of evaluating the costs and benefits of a particular policy or program.
Procurement and Contracting: The process of acquiring goods and services from suppliers.
Internal Controls: Policies and procedures designed to ensure the accuracy and completeness of financial information.
Fund Accounting: The accounting system used in public sector organizations to track funds and their use.
Financial Statements: The reports that summarize financial activities and status of an organization.
Auditing: The process of independently evaluating and verifying financial statements.
International Public Financial Management: The study of public finance and administration in a global context.
Planning Programming Budgeting System (PPBS): A management tool used to integrate planning, programming, and budgeting.
Zero-based Budgeting: A budgeting method that requires managers to justify all expenditures.
Capital Budgeting: The process of allocating resources for long-term investments.
Financial Analysis: A method of evaluating financial performance using ratios and other analytical tools.
Government Performance and Results Act (GPRA): A federal law that requires federal agencies to set and achieve performance goals.
Line-Item Budgeting: This is a traditional method of budgeting that identifies all the expenses and revenues of the organization in a line-by-line format.
Performance Budgeting: This is a budgeting approach that allocates funds based on the expected results or outcomes of the spending.
Zero-Based Budgeting: This is a method of budgeting that requires every item in the budget to be justified from scratch every time it is prepared.
Outcome-Based Budgeting: This is a method of budgeting that focuses on the outcomes or result of the public programs or services rather than the output.
Program Budgeting: Program budgeting emphasizes the inputs, outputs, and outcomes of the various programs of a public agency.
Capital Budgeting: This is a budgeting approach that focuses on long-term investments in assets like property, buildings, or infrastructure projects.
Cash Budgeting: Cash budgeting is a budgeting approach that focuses on the actual cash inflows and outflows of an organization.
Activity-Based Budgeting: This method of budgeting involves identifying the main activities of the organization and allocating resources and budgets accordingly.
Budget Cycle: Budget cycles are the stages through which budgets are created, analyzed, and approved.
Legislative Budgeting: Legislative budgeting involves the legislature's role in adopting, approving, and amending the government's budget.
Multi-Year Budgeting: Multi-year budgeting involves developing a budget for a period of more than one year, usually three to five years.
Participatory Budgeting: Participatory budgeting is a budgeting approach in which citizens collaborate with public authorities to identify and evaluate public projects and allocate public resources.
Performance Audit: Performance audits are evaluations conducted on publicly funded programs to determine whether they achieve their goals effectively and efficiently.
Fiscal transparency: Fiscal transparency refers to providing clear, accurate, and timely information to the public about government spending, revenue, and debt.
Open Budget: An open budget is a publicly available budget document that allows citizens to scrutinize government spending and provides transparency in financial decision-making.
"What products and services or capital assets are available, market depth (quantity available), what price, and where."
"Price transparency can, however, lead to higher prices."
"If it makes sellers reluctant to give steep discounts to certain buyers (e.g. disrupting price dispersion among buyers)."
"If it facilitates collusion."
"Price volatility is another concern."
"A high degree of market transparency can result in disintermediation due to the buyer's increased knowledge of supply pricing."
"1) I know what price will be charged to me, and 2) I know what price will be charged to you."
"The two types of price transparency have different implications for differential pricing."
"A transparent market should also provide necessary information about quality and other product features."
"Quality can be exceedingly difficult to estimate for some goods, such as artworks."
"While the stock market is relatively transparent..."
"Hedge funds are notoriously secretive."
"Concerns by hedge funds about the crowding out of their trades through transparency and undesirable effects of incomplete transparency."
"Financial professionals, including Wall Street veteran Jeremy Frommer..."
"Broadcasting live from trading desks and posting detailed portfolios online."
"Researchers in this area have found concerns by hedge funds about the crowding out of their trades through transparency and undesirable effects of incomplete transparency."
"Hedge funds are notoriously secretive."
"Some financial professionals, including Wall Street veteran Jeremy Frommer are pioneering the application of transparency to hedge funds by broadcasting live from trading desks and posting detailed portfolios online."
"Some financial professionals, including Wall Street veteran Jeremy Frommer are pioneering the application of transparency to hedge funds by broadcasting live from trading desks and posting detailed portfolios online."