Management of Public Finance and Sustainable Growth in a Developing Country： The Case of Cameroon

This paper studies the efficiency of the public financial management system in a developing country （Cameroon） by using time series data from 2000 to 2012. It shows the impact of characteristics variables of this sector in the process of sustainable growth. The contribution of these indicators in sustainable development, notably public expenditures, debt servicing or public debt and fiscal revenue is determined by using the Stoehastie Frontier Analysis approach （SFA）. A significant connection between public expenditures, debt servicing and sustainable growth ratio is established by the model studied. The research results show an encouraging but low level of efficiency in State financial management policy. Thus, in order to avoid a sovereign debt crisis that developed countries of Europe are facing these current days, some efforts must continue to be done not only to control the public debt, but also for a better allowance of public expenditures and a good collection of State revenue.

Detection of Helicobacter pylori:A faster urease test can save resources

AIM: To investigate whether differences in the rapidity of a positive result for Helicobacter pylori can save res ources, by comparing two commercially available urease kits. METHODS: One hundred and eighty-five adults (130 outpatients, 55 inpatients) undergoing gastroscopy were entered prospectively. Patients were divided into two groups: Group 1 (if they were not on PPIs, antibiotics, H2A, bismuth or sucralfate for up to 14 d prior to the endoscopy) and Group 2 (if they were on, or had been on, any of the above medication in the previous 14 d). At endoscopy two sets of biopsies, taken in random order, were placed in the wells of the Campylobacter-like organism (CLO) test (Kimberly-Clark, Utah, USA) and the Quick test (Biohit Plc, Helsinki, Finland). Five additional gastric biopsies were taken for histology/Giemsa and immunohistochemical study. The two urease test slides were read at 2 min, 30 min, 2 h and 24 h. Sensitivity and specif icity at 24 h were determined. RESULTS: At 24 h, for all patients, there was no difference in sensitivity (100% vs 97.5%), specificity (99.3%), positive (97.5%) and negative predictive values (100% vs 99.3%) between the CLO and Quick tests, respectively. There was a positive result at 30 min in 17/41 (41.5%) CLO tests, and in 28/40 (70%) Quick tests, P = 0.05. Quick test enabled the prescription of eradication therapy before discharge in all 28/40 patients. Only 12 (30%) follow-up appointments were needed. If the CLO test had been used alone, only 17 (41.5%) prescriptions would have been possible prior to discharge and 24 (58%) follow-up appointments would be needed (P = 0.001). Of 2000 gastroscopies performed annually at our unit, a saving of 123 follow-up appointments (total: 8856 Euros or 11 808 USD) would be achieved if we switched to the Quick test. CONCLUSION: Direct comparison of locally available urease test kits is worthwhile, since the appropriate choice results in a significant saving of resources. Local costs and follow-up protocols will determine the magnitude of these savings.

Detailed Rules for Implementing the Interim Regulations of the People's Republic of China on Business Tax

Since January 1, 2009,China's taxation on value-added tax,consumption tax and business tax are adjusted by the Ministry of Finance and the State Administration of Taxation.

Application of Recent Technologies in the Concept of Modem Business

In the era of over communications and hyper concurrency, people are overloaded with the offer of information, ideas, products, and services. Information is easy and unbelievable prompt available all over the world. Customers, concurrency, and innovators have immediate access to each other changes in technology, especially those in informatics and technology of communication are transforming the era of informatics to the era of knowledge. The aim of this paper is to make an overview of the most up-to-date novelties in technology, especially those that were enabled by ICT, as well as to direct to some of the potential of the future evolution in business process that is open to the innovations.

Transparency of Sovereign Wealth Funds

Sovereign Wealth Funds (SWFs) are a main channel for external investment by countries around the world and the important emerging force in current international financial market.

Environment Restricts and Policy Choice in International Harmonization of Accounting Standards and Effect Evaluation——Evidence from the Non-monetary Transaction

The paper tests accounting earnings quality of the non-monetary transaction standard before and after the revision, and comes to the conclusion that the standard revision under domestic conditions which restricts the use of fair value and does not recognize exchange revenues effectively prevents the company from managing earnings to improve earnings quality. The earnings management of the public companies has become more difficult, and earnings quality has been improved. But the earnings management of the public company does not decrease, some public companies make earnings management by other ways, The researcher provides direct evidence in explaining environment restricts have a role in accounting internationalization, explaining the difficulties of standard-making.

Research on constraints of internal controls in Chinese enterprises

From the practice of Chinese enterprises, the paper discusses three constraint conditions of China＇s internal controls including the system environmental constraint, cost constraint and organization constraint, and advances the suggestions on the approaches to improve Chinese enterprises＇ internal controls level.

Determinants of Private Sector Indebtedness in Greece： The Role of Deregulation

In this paper we examine private debt developments in Greece from 1970 onwards. We find private debt nearly stationary for about 20 years （starting from extremely low values） and expanding thereafter in nearly explosive terms. By disaggregating the time series of private debt, we pinpoint household debt （consumer, credit cards and mortgages） as the reason for this exponential increase. When considering demand and supply curves for household debt, shifts of the curves are to be interpreted： explanations from the demand side include, among others, expectations of future incomes. Regarding the supply side, the availability of loans （partly attributable to increased bank competition） and overall bank deregulation are proposed. Financial deregulation permitted banks to move promptly and offer to ambitious （but not necessarily solvent） customers a wide spectrum of choices： mortgages, credit cards, consumer loans and so on. Every single step in the process of financial deregulation was accompanied by a higher level of household indebtedness. Moving up from the household level to the macroeconomic level, increased debt had been also a solution to stalling effective demand, possibly due to the redistribution of income. Empirical analysis and causality tests are conducted along these lines and we find a two way causal relationship between GDP growth and private debt.

Monetary Policy and Profitability of Commercial Banks in Uganda

Background: Economic theory suggests that monetary policy through interest rates affects bank profitability. There is limited empirical evidence on the relationship between monetary policy and profitability of commercial banks in Uganda. Objective: This study seeks to examine the effect of monetary policy on the profitability of commercial banks in Uganda. Methodology: The study adopts a causal relationship research design. Data, covering 9 years from 2010-2018, was collected from all the registered commercial banks which were in operation over the study period. Various monetary policy variables are included in the empirical model as predictor variables. Return on Assets is used as a measure of bank profitability. A dynamic two-step System Generalized Method of Moments panel estimator is applied to estimate the empirical model. Findings: Estimates show that monetary policy in terms of its link to the lending rate has a significant causal effect on Return on Assets, suggesting that interest rate changes predict bank profitability of commercial banks in Uganda. Further, results show that a rise in core inflation has a significant negative causal effect on the banks’ profitability and that there is a significant lagged effect of Return on Assets. The 91-day treasury bill rate and money supply were insignificant in predicting bank profitability. Originality: Unlike previous related studies which have focused on major advanced economies and a limited number of studies which have considered only a few developing countries like Nigeria and Kenya, the current study provides empirical evidence on the link between monetary policy and commercial bank profitability in Uganda. Practical Implications: Policy makers in the financial sector may use the study results as a basis of implementation of appropriate monetary policy actions that enhance the profitability of Uganda’s commercial banks. For instance, the central bank should promote low and stable core inflation in order to enhance bank profitability, and should ensure that the monetary policy transmission to interest rates is efficient.

Development of China＇s Accounting Standards： Its Establishment and Development Trend

1. The Needs for Accounting Standards Development In 1980s, it was the searching stage for accounting standards. It was recognized that accounting standards cannot be isolated from business environment. China＇s accounting standards are basically constituted by the elements of recognition, measurement and presentation of accounting information as required by Ministry of Finance. Before 1978, accounting system reform was only carried out between complexity and briefness, so reporting formats and accounting framework were retained. Thereafter, the 3^rd plenary session of the 14th Communist Party of China National Congress concluded the economic reform in socialist market economy. Central government put forward a state policy on openness and mainland economic enlivenment. One of the major priorities was to attract foreign capitals and allowed the formation of China-foreign joint ventures. At that moment, China＇s accounting system was based on a single ownership methodology, which was a state-monopolized revenue and expenditure. As foreign transactions were not properly recorded in the financial statements, the information integrity was doubtful in reflecting the true figures of inputs and outputs. In addition, foreign investors could not even understand the reporting systems. It led to confusion that Ministry of Finance＇s approval on the shareholding transaction was unfair. As usual in western accounting standards, foreign shareholding should be regarded as equity and exhibited in balance sheet, which should be audited by independent professional accountants. As a result, the Chinese accounting system was alleged as opaque and required to reform in accordance with international accounting conventions. Otherwise, the foreign shareholding was unable to be translated into the investors＇ home countries.

Asymmetric nexus between commercial policies and consumption‑based carbon emissions:new evidence from Pakistan

The current study extends the previous literature by exploring the effects of a newly discovered driver,i.e.,import taxes(as a proxy for commercial policies),on the consumption-based carbon emissions(CCO2e)for 1990Q1-2017Q4.For empirical analysis,several tests and methods,including Augmented Dickey–Fuller unit root test,Zivot–Andrews unit root test,asymmetric cointegration bound testing approach,non-linear ARDL,Wald-test,Granger causality test and wavelet quantile correlation(WQC)method are utilized.Furthermore,NARDL technique estimates reveal that contractionary commercial policy enhances the environmental quality by disrupting the detrimental effects of CCO2e.However,expansionary commercial policy escalates the environmental pollution by boosting the carbon emissions.Also,the exports and the renewable energy improve the ecological quality;however,GDP deteriorates the atmospheric quality by increasing the CCO2e.Besides,WQC method and the trivariate Granger causality test are deployed to confirm the robustness of the results.Based on the findings,some crucial policies are also recommended for sustainable and green development in Pakistan.

Fuel Tax:14 Years' Expectation

China was quickening its steps to perfect the domestic pricing mechanism of refined oil products and was in the process of carrying out the fuel tax reform.

ACCOUNTING STANEARDS FOR BUSINESS ENTERPRISES

(Follow the Third Issue)CHAPTER IV LIABILITIESArticle 34.A liability is debt borne by an enterprise,measurable by money value,which will be paid to a credi-tor using assets,or services.Article 35.Liabilities are gen-erally classified into current liabili-ties and long-term liabilities.Article 36.Current liabilities refer to the debts which should be paid off within a year or an oper-ating cycle longer than a year,in-cluding short-term loans payable,

ACCOUNTING STANDARDS FORBUSINESS ENTERPRISES

fter approved by the State Council,the Ministry of Finance issued Accounting Standards for Business Enterprises on November 30,1992,which will become effective as of July 1,1993,These standards are applicaple to all enterprises established within the territory of the People’s Republic of China and Chinese enterprises established outside the territory of the People’s Republic of Chian.In order to make the ASBE understood easily,especially for those accounting staff in enterprises with foreign investement,enterprises involved in foreign trade,financial institutions,Chinese enterprises estabished outside the territory of the People’s Republic of China,etc.to engage in accounting operations and those foreign investors to have a better understanting of Chinese accounting policies,here we present the ASBE in English version and Japanese version ny four issues respectively.

US Dollar's Appreciation Despite the Financial Crisis

During the Asian financial crisis, the exchange rate of Thai baht against U.S.dollar grew by 17%.The rate of Korean won against U.S.dollar skyrocketed to a record high of 1008:1 and that of Indonesian rupiah against dollar even crossed the 10000:1 mark.However,after the

Big Car,More Costly?

Current story on car consumption tax is performing in China. Consumption tax is levied on goods on the basis of value-added tax （VAT）. A small number of commodities are chosen to impose consumption tax, which is usually seen in the production sector. As an ad valorem tax, consumption tax plays an important and positive role in effectively organizing fiscal revenue and correctly guiding production and consumption. China began to levy consumption tax on cars in 1994 and set three different levels of tax rates according to the type and displacement of the cars. It was paid by the manufacturing enterprises in line with the cost prices of the cars. As car consumption keeps growing rapidly in China, the consumption tax has also been adjusted accordingly. The first adjustment came in 2006. The previous three levels were further upgraded to six levels, the gaps between which were widened obviously. The gap between the top and the bottom levels grew from 5% to 17%.

An assessment of public services based on public risks and fiscal risks——Public finance as the foundation and pillar of state governance

Public finance is the foundation and pillar of state governance,and the core of state governance is public risk management.On one hand,public finance provides public services using public revenue and manages public risk directly.On the other hand,public fiscal risk can serve as a policy instrument for public risk management.Public risk,public services,public revenue,and fiscal risk mutually reinforce and set each other off.Therefore,striking a balance between fiscal risk and public risk is of great importance.To minimize public risk under the constraint of fiscal risk is the fundamental basis of the assessment of public services.Even though the constraint of fiscal risk may vary with the requirement of minimizing public risk,there is a limit.Thus,improving the efficiency of the provision of public services,or in other words,raising the effectiveness of public risk management,may relieve the pressure of fiscal risk and obtain a more appropriate balance between public risk and fiscal risk.

The slippery slope framework:A comprehensive evaluation of factors affecting trust and power

Many empirical studies have been conducted to test the assumptions of the slippery slope framework(SSF).However,although the SSF theory has introduced several tax compliance factors that are believed to have associations with trust in tax authorities and power of tax authorities,most studies tend to include only the two main domains of trust and power in the analysis.None of these studies comprehensively investigates the factors.Therefore,this study is dedicated to fully elaborating on these factors and their correlations with the two main domains of trust and power separately and simultaneously.The results show that most factors are proven to significantly influence trust and power.Tax penalties,norms,distributive fairness and retributive fairness significantly and positively influence trust,while audit probabilities,tax penalties,attitudes,norms and retributive fairness have significant and positive correlations with power.The results also confirm the main SSF assumptions that trust leads to voluntary compliance,while voluntary compliance positively affects overall tax compliance.However,this study fails to demonstrate the relationship of power with enforced compliance,while enforced compliance is found to negatively affect overall tax compliance.

Proposals and Suggestions for Future Development of the BRITACOM

The Belt and Road Initiative Tax Administra-tion Cooperation Mechanism(BRITACOM)is a non-profit official mechanism for tax administration cooperation amongst the jurisdictions that subscribe to the Belt and Road Initiative,whose members are also members of other international organizations.On the one hand,this fact adds more status to the organization,and on the other hand,it imposes a great responsibility on it in the conditions of high competition to provide its members and beneficia-ries with such a product that will help them over-come modern challenges related to taxation,and will be constantly updated and flexible.

Promoting the Quality Development of the Belt and Road Initiative from Tax Perspective:Practice of Kazakhstan

This article explores the importance of cooperation between tax administrations and educational institutions in improving the quality of tax administration and proposes a framework for improving the quality of cooperation between tax administrations and educational institutions,which includes the development of joint training programs,the establishment of research partnerships,and the creation of platforms for knowledge sharing.To conclude it is important to mention that effective cooperation between tax administrations and educational institutions is essential for building a sustainable tax system and promoting economic growth.