The difference between capital and revenue expenditure is a capital expenditure results in an addition to an asset account whereas a revenue expenditure results in an addition to an expense account. Capital expenditures are payments for asset alterations‚ additions and replacements. Revenue expenditures benefit a current period and are made to maintain assets with routine repairs or replacement of a minor part. Again capital expenditure will benefit 2 or more accounting periods through depreciation
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issue of equitable revenue allocation in Nigeria. It is an issue which has been politicised by successive administrations in Nigeria both Military and civilian regimes. Indeed‚ in virtually all federations in which the constitution shares power between the central and regional or state governments and‚ for each level to be “within a sphere co-ordinate and independent” (Wheare 1963:93) enough resources need be allocated to each tier to justify their existence. For many years‚ Nigeria has been searching
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OF THE STUDY Nigeria as a sovereign nation operates a federal system of government i.e the federal government‚ state government and the local government councils. Onwo (1992) Observed that each level of the three tiers of government derive its powers not from the magnanimity of the central government but from the constitution; each level of government has defined responsibilities assigned to it by the constitution. The implication of this is that the three segments of governments are mutually interrelated
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therefore created local government as the third tier of government whose objective is to ensure effective‚ measurable and efficient service delivery to the people. Local government is faced with various difficulties. The major concern of this paper is to dwell on these difficulties and illuminates the factors that are responsible for them. In achieving this‚ the paper relies on descriptive approach and unstructured interview. It concludes that problems of local government are multifarious in nature
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largest stock market in Australia whereby most transactions of shares and trade occur through here. Only listed companies are allowed to trade on the ASX‚ therefore allowing ASX to regulate the share market. This essay discusses how government expenditure and revenue affect the role of the share market from three different perspectives; shareholders‚ companies & the economy as a whole. Australia has an extraordinary level of share ownership as it has more shareholders per head of population
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Introduction Nigeria is Africa’s leading producer of oil and the seventh largest producer of crude oil in the world‚ and equally endowed with other numerous natural resources. But rather than utilizing its resources for maximum development‚ the country is unfortunately bedevilled with how to efficiently and effectively distribute oil revenues in an equitable manner. The revenue allocation phenomenon in Nigeria is basically the issue of distribution of national (resources) revenue‚ mobilized by the
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Three revenue sources in public budgeting Property Tax: Property tax can be defined as a levy that the government issues on a person’s property. The value assessed to the property is taxed. Revenue of local governments like cities and counties are derived from property taxes. The revenue is used for administration in government and expenses concerning law enforcement‚ paramedics etc.; and also to fund courts in local governments and helps for the payment of services which include civic centers
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A Review of Revenue Generation in Nigeria Local Government: A Case Study of Ekiti State Destiny Chiagozie Abstract: Local government is faced with varieties of difficulties to source adequate revenue from federal government‚ state government and the internally generated revenue‚ such problems are cogwheel to the smooth running of local government administration. They are; the dishonesty on the part of officers collecting the revenues‚ such as cases of printing receipts by the officers had been
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LOCAL GOVERNMENT AUTONOMY IN NIGERIA; A NEED FOR CONSTITUTIONAL REFORM "The basic irony between the U.S system and ours is that; while the various forms of local government are working wonders even when they are not mentioned anywhere in the U.S constitution; complaints over the failings of the Local Governments abound here even when they are entrenched in and catered for by
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Question 4 Source 2‚ ‘Fearsome Tyrannosaurus rex Sue may have died from a sore throat’‚ and Source 3 ‘Everest the hard way’ are both non-fiction texts‚ but have different purposes for different audiences. Source 2 is a text written to inform readers of a new scientific discovery‚ who are newspaper readers interested in the subject. Source 3 is a non-fiction text‚ written to inform readers of a life changing experience‚ who read and are interested in stories of adventure. Source 2 uses practical
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