Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 10, Problem 1Q

To determine

Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Expert Solution & Answer

Explanation of Solution

Financial crisis: The financial crisis refers to the situation where there is a rapid fall in the value of the assets due to a panic in the financial institution, crash of the stock market, and so on.

Financial Trend Monitoring System (FTMS): The Financial Trend Monitoring System was developed by ICMA to monitor the financial performance and the financial condition of the local government. The Financial Trend Monitoring System is a systematic method of tacking the financial performance of the government, which highlight various factors that helps in prioritizing long term plans and services.

The reasons for municipal financial crisis are:

The lack of management to change the management rules according to the environmental factors is the main reason for the municipal financial crisis. The factors like natural disaster, declining economy, unsupportive political decisions, and all will not have a great impact on the economy if sound practices are being followed. The impact of the financial crisis can be reduced with a sound financial management and long term financial recovery plan.

The effective monitoring system identifies the unfavorable financial trends and assist the management in taking preventive measures for avoiding the fiscal stress and financial distress. The FTMS can help the management to make sound decisions and improve the governmental conditions.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Please explain the solution to this general accounting problem using the correct accounting principles.

Swift Enterprises has sales of $500,000, variable costs are 70% of sales, and operating income is $75,000. What is the operating leverage?

What is the labour price variance? Accounting

Answer 2

Question

Chapter 10, Problem 1Q

To determine

Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Expert Solution & Answer

Explanation of Solution

Financial crisis: The financial crisis refers to the situation where there is a rapid fall in the value of the assets due to a panic in the financial institution, crash of the stock market, and so on.

Financial Trend Monitoring System (FTMS): The Financial Trend Monitoring System was developed by ICMA to monitor the financial performance and the financial condition of the local government. The Financial Trend Monitoring System is a systematic method of tacking the financial performance of the government, which highlight various factors that helps in prioritizing long term plans and services.

The reasons for municipal financial crisis are:

The lack of management to change the management rules according to the environmental factors is the main reason for the municipal financial crisis. The factors like natural disaster, declining economy, unsupportive political decisions, and all will not have a great impact on the economy if sound practices are being followed. The impact of the financial crisis can be reduced with a sound financial management and long term financial recovery plan.

The effective monitoring system identifies the unfavorable financial trends and assist the management in taking preventive measures for avoiding the fiscal stress and financial distress. The FTMS can help the management to make sound decisions and improve the governmental conditions.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 10, Problem 1Q

To determine

Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Expert Solution & Answer

Explanation of Solution

Financial crisis: The financial crisis refers to the situation where there is a rapid fall in the value of the assets due to a panic in the financial institution, crash of the stock market, and so on.

Financial Trend Monitoring System (FTMS): The Financial Trend Monitoring System was developed by ICMA to monitor the financial performance and the financial condition of the local government. The Financial Trend Monitoring System is a systematic method of tacking the financial performance of the government, which highlight various factors that helps in prioritizing long term plans and services.

The reasons for municipal financial crisis are:

The lack of management to change the management rules according to the environmental factors is the main reason for the municipal financial crisis. The factors like natural disaster, declining economy, unsupportive political decisions, and all will not have a great impact on the economy if sound practices are being followed. The impact of the financial crisis can be reduced with a sound financial management and long term financial recovery plan.

The effective monitoring system identifies the unfavorable financial trends and assist the management in taking preventive measures for avoiding the fiscal stress and financial distress. The FTMS can help the management to make sound decisions and improve the governmental conditions.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 10, Problem 1Q

To determine

Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Expert Solution & Answer

Explanation of Solution

Financial crisis: The financial crisis refers to the situation where there is a rapid fall in the value of the assets due to a panic in the financial institution, crash of the stock market, and so on.

Financial Trend Monitoring System (FTMS): The Financial Trend Monitoring System was developed by ICMA to monitor the financial performance and the financial condition of the local government. The Financial Trend Monitoring System is a systematic method of tacking the financial performance of the government, which highlight various factors that helps in prioritizing long term plans and services.

The reasons for municipal financial crisis are:

The lack of management to change the management rules according to the environmental factors is the main reason for the municipal financial crisis. The factors like natural disaster, declining economy, unsupportive political decisions, and all will not have a great impact on the economy if sound practices are being followed. The impact of the financial crisis can be reduced with a sound financial management and long term financial recovery plan.

The effective monitoring system identifies the unfavorable financial trends and assist the management in taking preventive measures for avoiding the fiscal stress and financial distress. The FTMS can help the management to make sound decisions and improve the governmental conditions.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 10, Problem 1Q

To determine

Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Expert Solution & Answer

Explanation of Solution

Financial crisis: The financial crisis refers to the situation where there is a rapid fall in the value of the assets due to a panic in the financial institution, crash of the stock market, and so on.

Financial Trend Monitoring System (FTMS): The Financial Trend Monitoring System was developed by ICMA to monitor the financial performance and the financial condition of the local government. The Financial Trend Monitoring System is a systematic method of tacking the financial performance of the government, which highlight various factors that helps in prioritizing long term plans and services.

The reasons for municipal financial crisis are:

The lack of management to change the management rules according to the environmental factors is the main reason for the municipal financial crisis. The factors like natural disaster, declining economy, unsupportive political decisions, and all will not have a great impact on the economy if sound practices are being followed. The impact of the financial crisis can be reduced with a sound financial management and long term financial recovery plan.

The effective monitoring system identifies the unfavorable financial trends and assist the management in taking preventive measures for avoiding the fiscal stress and financial distress. The FTMS can help the management to make sound decisions and improve the governmental conditions.

Answer 6

Chapter 10, Problem 1Q

To determine

Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Expert Solution & Answer

Explanation of Solution

Financial crisis: The financial crisis refers to the situation where there is a rapid fall in the value of the assets due to a panic in the financial institution, crash of the stock market, and so on.

Financial Trend Monitoring System (FTMS): The Financial Trend Monitoring System was developed by ICMA to monitor the financial performance and the financial condition of the local government. The Financial Trend Monitoring System is a systematic method of tacking the financial performance of the government, which highlight various factors that helps in prioritizing long term plans and services.

The reasons for municipal financial crisis are:

The lack of management to change the management rules according to the environmental factors is the main reason for the municipal financial crisis. The factors like natural disaster, declining economy, unsupportive political decisions, and all will not have a great impact on the economy if sound practices are being followed. The impact of the financial crisis can be reduced with a sound financial management and long term financial recovery plan.

The effective monitoring system identifies the unfavorable financial trends and assist the management in taking preventive measures for avoiding the fiscal stress and financial distress. The FTMS can help the management to make sound decisions and improve the governmental conditions.

Answer 7

Chapter 10, Problem 1Q

To determine

Identify the reasons for municipal financial crisis and explain the impact of effective monitoring system in reducing the risk of financial crisis.

Answer 8

Expert Solution & Answer

Explanation of Solution

Financial crisis: The financial crisis refers to the situation where there is a rapid fall in the value of the assets due to a panic in the financial institution, crash of the stock market, and so on.

Financial Trend Monitoring System (FTMS): The Financial Trend Monitoring System was developed by ICMA to monitor the financial performance and the financial condition of the local government. The Financial Trend Monitoring System is a systematic method of tacking the financial performance of the government, which highlight various factors that helps in prioritizing long term plans and services.

The reasons for municipal financial crisis are:

The lack of management to change the management rules according to the environmental factors is the main reason for the municipal financial crisis. The factors like natural disaster, declining economy, unsupportive political decisions, and all will not have a great impact on the economy if sound practices are being followed. The impact of the financial crisis can be reduced with a sound financial management and long term financial recovery plan.

The effective monitoring system identifies the unfavorable financial trends and assist the management in taking preventive measures for avoiding the fiscal stress and financial distress. The FTMS can help the management to make sound decisions and improve the governmental conditions.