Do imperfect budget policies lead to uneven year-end spending? The comparison of Ukraine & Canada

Many organizations have budgets that expire at the end of the year and they may face incentives to rush to spend resources on projects at the year-end. We are testing this hypothesis using data from Ukraine’s and Canada’s state budgets for 2013-2017. Budget expenditures for the last quarter of the fiscal year exceed the average and for the first quarter they are lower than they should be on average. It is known that the in Ukraine a budget policy became a state policy only in the 90s. Until that it was a part of the centralized budget policy of the USSR. After the declaration of independence, Ukraine started to introduce the scientific substantiation and practical implementation of decisions and measures aimed at improving the performance of a budget policy, so it is important to study the nature of this policy in order to use the positive experience of the developed countries

Do imperfect budget policies lead to uneven year-end spending? The comparison of Ukraine & Canada

Many organizations have budgets that expire at the end of the year and they may face incentives to rush to spend resources on projects at the year-end. We are testing this hypothesis using data from Ukraine’s and Canada’s state budgets for 2013-2017. Budget expenditures for the last quarter of the fiscal year exceed the average and for the first quarter they are lower than they should be on average. It is known that the in Ukraine a budget policy became a state policy only in the 90s. Until that it was a part of the centralized budget policy of the USSR. After the declaration of independence, Ukraine started to introduce the scientific substantiation and practical implementation of decisions and measures aimed at improving the performance of a budget policy, so it is important to study the nature of this policy in order to use the positive experience of the developed countries

ALGORITHMS OF PROTECTING THE ASSETS AND EQUITYBASIS OF THE FINANCIAL OF SUBJECTS OF ENTERPRISE

Protection algorithms for the assets and the business entities’ equity guarantee the inviolability of the owners’ private property rights, the inability of the wrongful seizure of the founders’ property, the security of the financial condition integrity and the equity of business entities.Financial risks determine the entities’ reactions that define the effects of financial security blunders. Each reaction corresponds to the effect of its own financial blunders. A general algorithm for financial security is defined by the steps and the events.General principles that define financial security make programs to counteract the influence of the market and the changes in financial stability and independence; to preserve the subjects’ finance and to maintain the owners’ requirements