The Idol Spot

Ethics are moral principles that guide a person’s behaviour. These morals are shaped by social norms, cultural practices, and religious influences. Ethical decision making is the process of assessing the moral implications of a course of action. All decisions have an ethical or moral dimension for a simple reason—they affect others. Managers and leaders need to be aware of their own ethical and moral beliefs so they can draw on them when they face difficult decisions. Ethical decisions can involve several determinations. The field of ethics, also known as moral philosophy, shows that there are various ways of systematizing, defending, and recommending concepts of right and wrong conduct. For example, from a consequentialist standpoint, morally right action produces a good outcome or consequence. A utilitarian perspective takes the position that the proper course of action maximizes overall happiness. WHAT ARE MANAGERIAL ETHICS? HOW CAN WE DEFINE ETHICS IN MANAGEMENT? Ethical management...

  WHAT IS A BUDGET? A budget is made to get an estimate of income and expenditure. It is different from an account which is a recording of a financial transaction. The budget is an extremely vital part of the economy of any nation since it helps in planning and controlling its financial affairs. The need for a government budget arises from the fact that income and expenditure do not happen at the same time. A revenue receipt and expenditure flow do not coincide in time.  GOVERNMENT BUDGET A government budget is made to approach and address the needs and issues of a country. It is an annual financial statement where an itemized estimate of revenue expected and expenditure anticipated are listed for the current fiscal year which runs from April 1 of one year to March 31 of the next year.  Elements of government budget :   1. Public Expenditure:  A national budget authorizes public expenditures under two categories: Government purchase of goods and services to serv...