16. Stock exchange

A stock exchange is a institute that provides services for stock brokers and traders to trade stock, bonds, other sec.

A stock exchange is a market for secondary securities. A stock exchange is a form of exchange which provides services for stock brokers and traders to trade stocks, bonds, and other securities.

To de able to trade a security on a certain stock exchange, it must be listed there. Trade on exchange is be members only. SE connected a buyers and sallers together.

The price of shares differs from day to day, and they are reported daily in newspapers in a form of indexes.

Funcions:

- Raising capital of business

- Mobilizating saving into investment

- Facilitating company growth

- Creating investment opportunity for small investors.

Stock exchanges have multiple roles in the economy. This may include the following: 1. The Stock Exchange provide companies with the facility to raise capital for expansion through selling shares to the investing public. 2. To facilitating company growth. 3. Mobilizing savings for investment 4. Profit sharing; 5. Corporate governance

The price of shares differs from day to day and they are reported daily in newspapers in the form of indexes. The London Stock Exchange index is called the FTSE (Footsie), the New York Stock Exchange index is called the Dow Jones, in Poland it is called WIG. These indexes show the market value of selected companies and represent the changing supply and demand for shares. The transfer of shares and stocks is made by completion of a transfer form – in fact they may change hands every day.

The most famous stock exchanges are located in London, New York, Tokyo, Paris and Frankfurt.

18 Budget system

A budget is a detailed plan outlining the obtaining and use of financial and other resources over some given time period. It represents a plan for the future expressed in formal quantitative terms. The state budget is a plan of obtaining and use of financial resources to provide with the functions which are carried out by the state authorities of Ukraine.

Most firms prepare yearly budget from short-term and long-term financial forecasts.

There are usually several budgets established in a firm : an operating budget, a capital budget, a cash budget and a master budget.

Budget helps to meet the objective. (Budget Code determ. Its structure, principles, terms, and delimination of function in the budget sphere between executive pover of state budget and …. Local self-government.

Budget may consist of general and special funds.

General includes: all budget incomes, exept for those which are intended for allocation to the special funds; all budget expenditure.

Special fund: grants.,gifts, budget allocations for expenditure from certain special sources,

Budget period shall be one calendar year, The year shall start on January 1 and the ehd on Dec 31 the same year. The VR must adopted the Law not late 1 of Decemder,