Certification in Public Finance

Description

Take the next step in your career! Whether you’re an up-and-coming professional, an experienced executive, aspiring manager, budding Professional. This course is an opportunity to sharpen your Public Finance. , increase your efficiency for professional growth and make a positive and lasting impact in the business or organization.

With this course as your guide, you learn how to:

• All the basic functions and skills required Public Finance.
• Transform meaning of public finance to the importance and Scope of Public Finance, Subject – matter of Public Finance. Developed Countries and Public Finance, Under-developed Countries and Public Finance.
• Get access to recommended templates and formats for the detail’s information related to public finance.
• Learn useful case studies, public revenue: revenue receipts and capital receipts, Taxes, Characteristics of a Tax and so on related to this. Taxation and its canons and different types of the canons of taxations. Classification and Choice of Taxes: Direct and indirect, Vat. Merits and demerits of Direct Taxes. Merits and Demerits of Indirect Taxes. Vat and Sales Tax. Details about VAT. Merits and Demerits of VAT.
• Invest in yourself today and reap the benefits for years to come.

The Frameworks of the Course

Engaging video lectures, case studies, assessment, downloadable resources and interactive exercises. This course is created to Learn about Meaning and scope of public finance. Importance and Scope of Public Finance, Subject – matter of Public Finance. Developed Countries and Public Finance, Under-developed Countries and Public Finance. Principles of maximum social advantages. Public revenue: revenue receipts and capital receipts, Taxes, Characteristics of a Tax and so on related to this. Taxation and its canons and different types of the canons of taxations. The development of taxation, Just Distribution of Tax Burden. Expediency theory and Socio-political theory and its evaluation.

Classification and Choice of Taxes: Direct and indirect, Vat. Merits and demerits of Direct Taxes. Merits and Demerits of Indirect Taxes. Vat and Sales Tax. Details about VAT. Merits and Demerits of VAT. meaning of Public and Private Debt and its Limitations. Comparison between Private and Public Debt. Effect of public debt: public debt and economic growth, Loans Versus Taxes and Difference between Taxes and Loans, Redemption of Public Debt. Advantages and Disadvantages of the Public Debt

The course includes multiple Case studies, resources like formats-templates-worksheets-reading materials, quizzes, self-assessment, film study and assignments to nurture and upgrade your Public Finance in details.

In the first part of the course, you’ll learn the details of the Meaning and scope of public finance. Importance and Scope of Public Finance, Subject – matter of Public Finance. Developed Countries and Public Finance, Under-developed Countries and Public Finance. Principles of maximum social advantages. The Thoughtful Facts While Spending, Maximum Social Advantage. Issues related to economic activities of public finance (exp.), Economic effects of public expenditure. Instrument of public finance: concepts and role of budget, Some Concepts Associated with Budgets, A ‘Good’ Budget and you will learn public revenue: revenue receipts and capital receipts, Taxes, Characteristics of a Tax and so on related to this. Taxation and its canons and different types of the canons of taxations. The development of taxation.

In the middle part of the course, you’ll learn how to develop a knowledge related to ability to Pay theory: objective and subjective indices, Limitations of Subjective Approach, Impact, shifting and incidence of taxation, Distinction between Impact and Incidence of Taxation and Difference between Tax Avoidance and Tax Evasion. Theories of tax shifting: concentration and diffusion theory. Importance of Incidence Problem Study. Diffusion theory.

In the final part of the course, you’ll develop the knowledge related to the Classification and Choice of Taxes: Direct and indirect, Vat.Merits and demerits of Direct Taxes. Merits and Demerits of Indirect Taxes. Vat and Sales Tax. Details about VAT. Merits and Demerits of VAT.Effects of taxation on production and growth and Effects on Ability to Work, Saving and Investment.Public Debt: meaning of Public and Private Debt and its Limitations. Comparison between Private and Public Debt. Effect of public debt: public debt and economic growth and also Public Expenditure.

Part 1

Introduction and Study Plan

· Introduction and know your Instructor

· Study Plan and Structure of the Course

1. Meaning and scope of public finance

1.1. Introduction

1.2. Importance and Scope of Public Finance

1.3. Functions of Modern States

1.4. Subject – matter of Public Finance

1.5. Trends in Public Finance

1.6. National Debt

1.7. Activating Finance

1.8. Developed Countries and Public Finance

1.9. Under-developed Countries and Public Finance

2. Principles of maximum social advantages

2.1. Introduction

2.2. The Thoughtful Facts While Spending

2.3. Maximum Social Advantage

3. Issues related to economic activities of Public finance (exp.)

3.1. Introduction

3.2. Economic effects of public expenditure

3.3. Other Effects of Public Expenditure

4. Instrument of public finance : concepts and role of budget

4.1. Introduction

4.2. Some Concepts Associated with Budgets

4.3. A ‘Good’ Budget

5. Public revenue: revenue receipts and capital receipts

5.1. Introduction

5.2. Taxes

5.3. Characteristics of a Tax

5.4. Difference between Fees and Price

5.5. Gifts and Grants

6. Taxation and its canons

6.1. Introduction.

6.2. The development of taxation

6.3. Canon of Certainty

6.4. Canon of Economy

6.5. Just Distribution of Tax Burden

7. Expediency theory

7.1. Introduction.

8. Socio-political theory

8.1. Introduction

8.2. Evaluation of Theory

9. Ability to Pay theory: objective and subjective indices

9.1. Introduction

9.2. Limitations of Subjective Approach

Part 2

10. Impact, shifting and incidence of taxation

10.1. Introduction.

10.2. Distinction between Impact and Incidence of Taxation

10.3. Shifting of Tax

10.4. Difference between Tax Avoidance and Tax Evasion

11. Theories of tax shifting : concentration and diffusion theory

11.1. Introduction.

11.2. Importance of Incidence Problem Study

12. Diffusion theory

12.1. Introduction

13. Classification and Choice of Taxes: Direct and indirect, Vat

13.1. Introduction

13.2. Merits of Direct Taxes

13.3. Demerits of Direct Taxes

13.4. Merits of Indirect Taxes

13.5. Demerits of Indirect Taxes

13.6. Definition of Vat

13.7. Vat and Sales Tax

13.8. Vat and Excise Duty

13.9. Various Forms of Value Added Tax

13.10. Merits of Vat

13.11. Demerits of Vat

14. Effects of taxation on production and growth

14.1. Introduction

14.2. Effects on Ability to Work, Saving and Investment

14.3. Effects on the Desire to Work, Save and Invest

14.4. Psychological Reaction of the Tax-Payers

14.5. Distribution Vs Production

14.6. Taxation and Economic Stability

14.7. Taxation and Depression

15. Public Debt: meaning of Public and Private Debt and its Limitations

15.1. Introduction

15.2. Comparison between Private and Public Debt

15.3. Objectives of Public Debt

16. Effect of public debt : public debt and economic growth

16.1. Introduction

16.2. Loans Versus Taxes

16.3. Difference between Taxes and Loans

16.4. Redemption of Public Debt

16.5. Advantages and Disadvantages of the Public Debt

17. Public expenditure

17.1. Introduction

17.2. Public Expenditure and Economic Life

17.3. Other Canons of Public Expenditure

Part 3

Assignments

· What do you mean by public finance? Note down the answer in your own words.

· Why different types of cannons of taxation is important? Explain development of taxation in your own words.

· What is the difference between direct and indirect taxes? Note down the answer in your own words

Process of Public Finance

Case Study of Public Finance

Templates of Public Finance

Public finance refers to the management of government revenue, expenditures, and debt in order to achieve various economic and social objectives. It encompasses the processes through which governments collect revenue, allocate resources, and finance public goods and services for the benefit of society. Here are some key aspects of public finance:

1. Revenue Generation: Governments collect revenue through various sources, including taxes (such as income tax, sales tax, property tax), fees, fines, tariffs, and grants. Revenue generation is essential for funding public expenditures and providing essential services and infrastructure.
2. Expenditure Allocation: Governments allocate public funds to finance a wide range of expenditures, including education, healthcare, infrastructure, defense, social welfare programs, public safety, and environmental protection. The allocation of funds is guided by policy priorities, societal needs, and budgetary constraints.
3. Budgeting and Fiscal Policy: Budgeting involves the process of planning, preparing, and implementing government budgets. Fiscal policy refers to the use of taxation, spending, and borrowing by the government to influence economic activity and achieve macroeconomic objectives such as economic growth, price stability, and full employment.
4. Debt Management: Governments may borrow funds through the issuance of bonds, loans, or other debt instruments to finance budget deficits or capital projects. Debt management involves monitoring and managing government debt levels, interest costs, and repayment schedules to ensure fiscal sustainability and debt affordability.
5. Public Goods and Services: Public finance plays a critical role in providing public goods and services that benefit society as a whole and cannot be efficiently provided by the private sector. Examples of public goods include national defense, public infrastructure (such as roads, bridges, and utilities), law enforcement, and public health services.
6. Taxation Policies: Taxation policies influence economic behavior, income distribution, and government revenue. Governments may design tax systems to promote economic efficiency, equity, simplicity, and administrative ease. Taxation policies often involve trade-offs between raising revenue and minimizing distortions to economic incentives.
7. Public Sector Economics: Public finance is closely related to the study of public sector economics, which examines the role of government in the economy, the efficiency and effectiveness of government interventions, and the impact of public policies on resource allocation, income distribution, and economic welfare.
8. Inter-governmental Fiscal Relations: Public finance also involves the study of fiscal relations between different levels of government (such as central, state, and local governments) and the mechanisms for revenue sharing, fiscal transfers, and coordination of fiscal policies to promote fiscal sustainability and inter-governmental equity.

Overall, public finance plays a vital role in shaping the economic, social, and political landscape of countries around the world, influencing resource allocation, income distribution, and the overall well-being of citizens.