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1 Global Investment Performance Standard
Stock Exchange: GIPSУниверсальный русско-английский словарь > Global Investment Performance Standard
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2 Global Investment.com Finance
NASDAQ: GLBJFУниверсальный русско-английский словарь > Global Investment.com Finance
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3 ♦ global
♦ global /ˈgləʊbl/a.2 del globo terrestre; della terra: (ecol.) global warming, il riscaldamento del pianeta (o riscaldamento globale)4 globale; complessivo: the global output of a factory, la produzione complessiva di una fabbrica; a global allocation of £1,000,000, uno stanziamento globale di un milione di sterline● (fin.) global investment, l'investimento globale □ global positioning system (abbr. GPS), sistema di posizionamento globale □ (comput.) global portal, portale globale □ (comput., Internet) global search, ricerca globale □ the global village, il villaggio globaleglobalityn. [u]globalità. -
4 global market portfolio
фин. глобальный портфельа) (включает как отечественные, так и иностранные ценные бумаги)б) (рыночный портфель, построенный для всего мирового финансового рынка)See:Англо-русский экономический словарь > global market portfolio
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5 global market portfolio
фин. глобальный портфельа) (включает как отечественные, так и иностранные ценные бумаги)б) (рыночный портфель, построенный для всего мирового финансового рынка)See:The new English-Russian dictionary of financial markets > global market portfolio
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6 on a global scale
scale of investment — размер капвложений; масштабы вложений
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7 мировые капиталовложения
Русско-английский синонимический словарь > мировые капиталовложения
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8 GIPS
1) Общая лексика: Глобальные стандарты инвестиционной деятельности (Единые стандарты расчёта доходности инвестиционной деятельности) (Global Investment Performance Standards)2) Военный термин: Geographic Installation Intelligence Production Specifications, ground information processing system4) Биржевой термин: Global Investment Performance Standard5) Вычислительная техника: Graph Information Retrieval System, Giga Instructions Per Second (CPU) -
9 GLBJF
НАСДАК: Global Investment.com Finance -
10 Глобальные стандарты инвестиционной деятельности (Единые стандарты расчёта доходности инвестиционной деятельности)
General subject: GIPS (Global Investment Performance Standards)Универсальный русско-английский словарь > Глобальные стандарты инвестиционной деятельности (Единые стандарты расчёта доходности инвестиционной деятельности)
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11 Глобальные стандарты инвестиционной деятельности
Универсальный русско-английский словарь > Глобальные стандарты инвестиционной деятельности
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12 глобальные облигации
Investment: global bondsУниверсальный русско-английский словарь > глобальные облигации
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13 глобальный депозитарный сертификат
Investment: global depositary receiptУниверсальный русско-английский словарь > глобальный депозитарный сертификат
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14 глобальный инвестор
Investment: global investorУниверсальный русско-английский словарь > глобальный инвестор
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15 глобальный фонд
Investment: global fund -
16 sociedad
f.1 society.las hormigas viven en sociedad ants are social creaturesentrar o presentarse en sociedad to come out, to make one's debutalta sociedad high societynotas de sociedad society columnla sociedad civil civilian societysociedad de consumo consumer societyla sociedad de la información the information societyla sociedad del ocio the leisure society2 company (commerce) (empresa).sociedad de cartera portfolio companysociedad colectiva general partnershipsociedad comanditaria o en comandita general and limited partnershipsociedad industrial industrial societysociedad mercantil trading companysociedad (de responsabilidad) limitada private limited company* * *1 (gen) society2 COMERCIO company3 (asociación) society, association\presentarse en sociedad to make one's debutsociedad anónima limited company, US incorporated companysociedad comanditaria limited partnership, US silent partnershipsociedad de consumo consumer societySociedad de Jesús Society of Jesussociedad en comandita limited partnership, US silent partnershipsociedad limitada private limited company, US limited corporationsociedad mercantil company, trading companysociedad protectora de animales society for the prevention of cruelty to animals* * *noun f.1) society2) company•* * *SF1) (Sociol) society2) (=asociación) [gen] society, association; [oficial] bodysociedad de socorros mutuos — friendly society, provident society
3) (Com, Econ) (=empresa) [gen] company; [de socios] partnershipsociedad anónima — limited liability company, corporation (EEUU)
Sociedad Anónima — [en nombres de empresa] Limited, Incorporated (EEUU)
sociedad conjunta — (Com) joint venture
sociedad de beneficencia — friendly society, benefit association (EEUU)
sociedad instrumental, sociedad limitada — limited company, private limited company, corporation (EEUU)
4)alta o buena sociedad — high society
entrar en sociedad, presentarse en (la) sociedad — to come out, make one's debut
notas de sociedad — gossip column, society news column
5)* * *1) (Sociol) society2) (asociación, club) society3) (Der, Fin) company4) ( clase alta) (high) society* * *= membership, society, social fabric.Ex. The sharing of expertise through membership of a club of existing users can be valuable.Ex. Although the distinction between ' societies' and 'institutions' lies at the heart of the code.Ex. Information services should also be interwoven with the social fabric and firmly rooted in a commuity in order to be acceptable.----* constituir como sociedad = incorporate.* crónica de sociedad = gossip column.* cronista de sociedad = gossip columnist.* Cumbre Mundial sobre la Sociedad de la Información = World Summit on the Information Society (WSIS).* de servicio a la sociedad = public-spirited.* editor de sociedad cultural = learned society publisher.* flor y nata de la sociedad, la = cream of society, the.* integrarse en la sociedad = integrate into + society.* la escoria de la sociedad = the gutter.* la sociedad en general = society at large.* margen de la sociedad = margin of society.* marginado de la sociedad = social outcast.* más granado de la sociedad, lo = cream of society, the.* parásito de la sociedad = parasite.* persona de la alta sociedad = socialite.* pilares de la sociedad, los = pillars of society, the.* prescrito por la sociedad = socially prescribed.* promovido por la sociedad = culture-led.* que afecta a toda la sociedad = culture-wide.* SCONUL (Sociedad de Bibliotecas Nacionales y Universitarias) = SCONUL (Society of College, National and University Libraries).* sociedad acomodada = affluent society.* sociedad adinerada = affluent society.* Sociedad Americana de Compositores, Autores y Editores = American Society of Composers, Authors, and Publishers (ASCAP).* Sociedad Australiana de Archiveros = Australian Society of Archivists (ASA).* sociedad avanzada = advanced society.* sociedad basada en el conocimiento = knowledge based society.* Sociedad Bibliográfica de America = Bibliographical Society of America.* sociedad burocratizada = bureaucratised society.* sociedad capitalista = capitalist society.* sociedad científica = scientific society, scholarly academy, scholarly society.* sociedad científico-cultural = learned society.* sociedad civil = civil society.* sociedad civilizada = civilised society.* sociedad consumista = consumerist society, consumer society, consumer society.* sociedad cultural = learned society.* Sociedad de Archiveros Americanos = Society of American Archivists.* Sociedad de Archiveros Holandeses = Society of Dutch Archivists.* sociedad de beneficiencia = friendly society, provident society, mutual benefit society.* sociedad de consumo = consumer society, affluent society.* sociedad de gestión de derechos de autor = copyright collective, copyright collecting society, copyright collecting agency.* sociedad de inversiones = investment trust.* sociedad de inversión mobiliaria = investment trust.* sociedad de la información, la = information society, the.* sociedad del conocimiento = knowledge society.* sociedad de lectores = book club.* sociedad del ocio = leisure society, leisured society.* sociedad del papel = paper society.* sociedad de seguros mutuos = provident society, mutual benefit society.* sociedad de socorros mutuos = friendly society, provident society, mutual benefit society.* sociedad de tradición escrita = literate society.* sociedad editorial = publishing corporation.* sociedad histórica = historical society.* Sociedad Ilimitada = Unlimited.* sociedad inclusiva = inclusive society.* sociedad industrial = industrial society.* sociedad industrializada = industrialised society.* sociedad informada = learning society.* sociedad integradora = inclusive society.* sociedad intelectual = learned society.* sociedad laica = secular society.* sociedad materialista = materialistic society.* sociedad medieval = mediaeval society.* sociedad mercantilista = mercantile society.* sociedad moderna = modern society.* Sociedad para el Conocimiento Global = Global Knowledge Partnership.* sociedad pluralista = pluralistic society.* sociedad postindustrial = post-industrial society.* sociedad preindustrial = pre-industrial society.* sociedad privada = private society.* sociedad protectora de animales = RSPCA (Royal Society for the Protection of Cruelty to Animals), animal protection society.* sociedad religiosa = religious society.* sociedad secreta = secret society, secret brotherhood.* sociedad sin libros = bookless society.* sociedad sin papel, la = paperless society, the.* sociedad tecnológica = technological society.* sociedad trabajadora = working society.* toda la sociedad = society at large.* * *1) (Sociol) society2) (asociación, club) society3) (Der, Fin) company4) ( clase alta) (high) society* * *= membership, society, social fabric.Ex: The sharing of expertise through membership of a club of existing users can be valuable.
Ex: Although the distinction between ' societies' and 'institutions' lies at the heart of the code.Ex: Information services should also be interwoven with the social fabric and firmly rooted in a commuity in order to be acceptable.* constituir como sociedad = incorporate.* crónica de sociedad = gossip column.* cronista de sociedad = gossip columnist.* Cumbre Mundial sobre la Sociedad de la Información = World Summit on the Information Society (WSIS).* de servicio a la sociedad = public-spirited.* editor de sociedad cultural = learned society publisher.* flor y nata de la sociedad, la = cream of society, the.* integrarse en la sociedad = integrate into + society.* la escoria de la sociedad = the gutter.* la sociedad en general = society at large.* margen de la sociedad = margin of society.* marginado de la sociedad = social outcast.* más granado de la sociedad, lo = cream of society, the.* parásito de la sociedad = parasite.* persona de la alta sociedad = socialite.* pilares de la sociedad, los = pillars of society, the.* prescrito por la sociedad = socially prescribed.* promovido por la sociedad = culture-led.* que afecta a toda la sociedad = culture-wide.* SCONUL (Sociedad de Bibliotecas Nacionales y Universitarias) = SCONUL (Society of College, National and University Libraries).* sociedad acomodada = affluent society.* sociedad adinerada = affluent society.* Sociedad Americana de Compositores, Autores y Editores = American Society of Composers, Authors, and Publishers (ASCAP).* Sociedad Australiana de Archiveros = Australian Society of Archivists (ASA).* sociedad avanzada = advanced society.* sociedad basada en el conocimiento = knowledge based society.* Sociedad Bibliográfica de America = Bibliographical Society of America.* sociedad burocratizada = bureaucratised society.* sociedad capitalista = capitalist society.* sociedad científica = scientific society, scholarly academy, scholarly society.* sociedad científico-cultural = learned society.* sociedad civil = civil society.* sociedad civilizada = civilised society.* sociedad consumista = consumerist society, consumer society, consumer society.* sociedad cultural = learned society.* Sociedad de Archiveros Americanos = Society of American Archivists.* Sociedad de Archiveros Holandeses = Society of Dutch Archivists.* sociedad de beneficiencia = friendly society, provident society, mutual benefit society.* sociedad de consumo = consumer society, affluent society.* sociedad de gestión de derechos de autor = copyright collective, copyright collecting society, copyright collecting agency.* sociedad de inversiones = investment trust.* sociedad de inversión mobiliaria = investment trust.* sociedad de la información, la = information society, the.* sociedad del conocimiento = knowledge society.* sociedad de lectores = book club.* sociedad del ocio = leisure society, leisured society.* sociedad del papel = paper society.* sociedad de seguros mutuos = provident society, mutual benefit society.* sociedad de socorros mutuos = friendly society, provident society, mutual benefit society.* sociedad de tradición escrita = literate society.* sociedad editorial = publishing corporation.* sociedad histórica = historical society.* Sociedad Ilimitada = Unlimited.* sociedad inclusiva = inclusive society.* sociedad industrial = industrial society.* sociedad industrializada = industrialised society.* sociedad informada = learning society.* sociedad integradora = inclusive society.* sociedad intelectual = learned society.* sociedad laica = secular society.* sociedad materialista = materialistic society.* sociedad medieval = mediaeval society.* sociedad mercantilista = mercantile society.* sociedad moderna = modern society.* Sociedad para el Conocimiento Global = Global Knowledge Partnership.* sociedad pluralista = pluralistic society.* sociedad postindustrial = post-industrial society.* sociedad preindustrial = pre-industrial society.* sociedad privada = private society.* sociedad protectora de animales = RSPCA (Royal Society for the Protection of Cruelty to Animals), animal protection society.* sociedad religiosa = religious society.* sociedad secreta = secret society, secret brotherhood.* sociedad sin libros = bookless society.* sociedad sin papel, la = paperless society, the.* sociedad tecnológica = technological society.* sociedad trabajadora = working society.* toda la sociedad = society at large.* * *A ( Sociol) societysociedad pluralista/democrática pluralistic/democratic societyel papel que cabe a la mujer en la sociedad the role of women in societyCompuestos:consumer societyprovident societyB (asociación, club) societyuna sociedad secreta a secret societysociedad deportiva sports clubCompuestos:Society of Jesus( Hist) League of NationsSociety for the Prevention of Cruelty to Animalsformar una sociedad to set up o form a companyCompuestos:● sociedad comanditaria or en comanditalimited partnershiplisted company, quoted companyholding companyjoint ownership upon marriagemanagement companyinvestment companysecurities firmstate corporationfinance company o house( Esp) (que promueve) developer, development company; (que construye) construction company; (que administra) real estate ( AmE) o ( BrE) property management companyparent companytrading companyjoint venturesole proprietor, sole trader ( BrE)D (clase alta) society, high societypresentarse en sociedad to come out ( as a debutante)* * *
sociedad sustantivo femenino
1 (Sociol) society;
2 (asociación, club) society
3 (Der, Fin) company;
sociedad de responsabilidad limitada limited corporation ( in US), (private) limited company ( in UK);
sociedad inmobiliaria (Esp) ( que construye) construction company;
( que administra) real estate (AmE) o (BrE) property management company;
4 ( clase alta) (high) society
sociedad sustantivo femenino
1 society
sociedad industrial/medieval, industrial/medieval society
2 Fin company
sociedad anónima, public limited company
sociedad cooperativa, co-operative
sociedad limitada, limited company
2 (asociación) society
3 alta sociedad, (high) society
♦ Locuciones: presentarse en sociedad, to have one's coming out
sociedad civil, civil society
sociedad de consumo, consumer society
' sociedad' also found in these entries:
Spanish:
agruparse
- alta
- alto
- anónima
- anónimo
- apreciarse
- baile
- clasista
- consumo
- eco
- estratificación
- gratuidad
- limitada
- limitado
- marginar
- protector
- protectora
- reintegrar
- S.A.
- S.L.
- academia
- agrario
- capa
- concientizar
- construir
- corromper
- corrompido
- crónica
- desmoronarse
- ejido
- elitista
- engranaje
- escoria
- espejo
- estamento
- evolución
- evolucionado
- evolucionar
- jai
- justo
- modernizar
- ojo
- posición
- regir
- retrasado
- secretario
- situación
English:
affluent
- association
- cliquey
- club
- consumer society
- corp.
- corporation
- dissolve
- drop out
- dropout
- fabric
- golf club
- HMO
- incorporated
- limited
- Ltd
- member
- monogamous
- partnership
- PLC
- progress
- Rotary Club
- scum
- section
- socialite
- society
- whole
- building
- consumer
- cream
- dregs
- element
- finishing
- fringe
- gossip
- high
- incorporate
- joint
- parent
- reintegrate
- savings
- stock
* * *sociedad nf1. [de seres vivos] society;las hormigas viven en sociedad ants are social creaturesla sociedad civil civil society;sociedad de consumo consumer society;sociedad de la información information society;la sociedad del ocio the leisure society;sociedad plural plural society;sociedad postindustrial post-industrial society2. [mundo elegante] society;alta sociedad high society;notas de sociedad society column3. [asociación] societysociedad deportiva sports club;sociedad gastronómica dining club, gourmet club;la Sociedad de Jesús the Society of Jesus;sociedad literaria literary society;sociedad médica private health care company;Hist la Sociedad de Naciones the League of Nations;4. Com & Fin [empresa] companysociedad anónima Br public (limited) company, US incorporated company;sociedad de cartera holding (company);sociedad colectiva general partnership;sociedad cooperativa cooperative;sociedad industrial industrial society;sociedad de inversión investment company;sociedad de inversión de capital variable ICVC, investment company with variable capital;sociedad de inversión mobiliaria investment trust;sociedad limitada private limited company;sociedad mercantil trading corporation;sociedad mixta joint venture;sociedad de responsabilidad limitada private limited company* * *f society;alta sociedad high society;presentar en sociedad present in society* * *sociedad nf1) : society2) : company, enterprise3)sociedad anónima : incorporated company* * *sociedad n -
17 near cash
!гос. фин. The resource budget contains a separate control total for “near cash” expenditure, that is expenditure such as pay and current grants which impacts directly on the measure of the golden rule.This paper provides background information on the framework for the planning and control of public expenditure in the UK which has been operated since the 1998 Comprehensive Spending Review (CSR). It sets out the different classifications of spending for budgeting purposes and why these distinctions have been adopted. It discusses how the public expenditure framework is designed to ensure both sound public finances and an outcome-focused approach to public expenditure.The UK's public spending framework is based on several key principles:"consistency with a long-term, prudent and transparent regime for managing the public finances as a whole;" "the judgement of success by policy outcomes rather than resource inputs;" "strong incentives for departments and their partners in service delivery to plan over several years and plan together where appropriate so as to deliver better public services with greater cost effectiveness; and"the proper costing and management of capital assets to provide the right incentives for public investment.The Government sets policy to meet two firm fiscal rules:"the Golden Rule states that over the economic cycle, the Government will borrow only to invest and not to fund current spending; and"the Sustainable Investment Rule states that net public debt as a proportion of GDP will be held over the economic cycle at a stable and prudent level. Other things being equal, net debt will be maintained below 40 per cent of GDP over the economic cycle.Achievement of the fiscal rules is assessed by reference to the national accounts, which are produced by the Office for National Statistics, acting as an independent agency. The Government sets its spending envelope to comply with these fiscal rules.Departmental Expenditure Limits ( DEL) and Annually Managed Expenditure (AME)"Departmental Expenditure Limit ( DEL) spending, which is planned and controlled on a three year basis in Spending Reviews; and"Annually Managed Expenditure ( AME), which is expenditure which cannot reasonably be subject to firm, multi-year limits in the same way as DEL. AME includes social security benefits, local authority self-financed expenditure, debt interest, and payments to EU institutions.More information about DEL and AME is set out below.In Spending Reviews, firm DEL plans are set for departments for three years. To ensure consistency with the Government's fiscal rules departments are set separate resource (current) and capital budgets. The resource budget contains a separate control total for “near cash” expenditure, that is expenditure such as pay and current grants which impacts directly on the measure of the golden rule.To encourage departments to plan over the medium term departments may carry forward unspent DEL provision from one year into the next and, subject to the normal tests for tautness and realism of plans, may be drawn down in future years. This end-year flexibility also removes any incentive for departments to use up their provision as the year end approaches with less regard to value for money. For the full benefits of this flexibility and of three year plans to feed through into improved public service delivery, end-year flexibility and three year budgets should be cascaded from departments to executive agencies and other budget holders.Three year budgets and end-year flexibility give those managing public services the stability to plan their operations on a sensible time scale. Further, the system means that departments cannot seek to bid up funds each year (before 1997, three year plans were set and reviewed in annual Public Expenditure Surveys). So the credibility of medium-term plans has been enhanced at both central and departmental level.Departments have certainty over the budgetary allocation over the medium term and these multi-year DEL plans are strictly enforced. Departments are expected to prioritise competing pressures and fund these within their overall annual limits, as set in Spending Reviews. So the DEL system provides a strong incentive to control costs and maximise value for money.There is a small centrally held DEL Reserve. Support from the Reserve is available only for genuinely unforeseeable contingencies which departments cannot be expected to manage within their DEL.AME typically consists of programmes which are large, volatile and demand-led, and which therefore cannot reasonably be subject to firm multi-year limits. The biggest single element is social security spending. Other items include tax credits, Local Authority Self Financed Expenditure, Scottish Executive spending financed by non-domestic rates, and spending financed from the proceeds of the National Lottery.AME is reviewed twice a year as part of the Budget and Pre-Budget Report process reflecting the close integration of the tax and benefit system, which was enhanced by the introduction of tax credits.AME is not subject to the same three year expenditure limits as DEL, but is still part of the overall envelope for public expenditure. Affordability is taken into account when policy decisions affecting AME are made. The Government has committed itself not to take policy measures which are likely to have the effect of increasing social security or other elements of AME without taking steps to ensure that the effects of those decisions can be accommodated prudently within the Government's fiscal rules.Given an overall envelope for public spending, forecasts of AME affect the level of resources available for DEL spending. Cautious estimates and the AME margin are built in to these AME forecasts and reduce the risk of overspending on AME.Together, DEL plus AME sum to Total Managed Expenditure (TME). TME is a measure drawn from national accounts. It represents the current and capital spending of the public sector. The public sector is made up of central government, local government and public corporations.Resource and Capital Budgets are set in terms of accruals information. Accruals information measures resources as they are consumed rather than when the cash is paid. So for example the Resource Budget includes a charge for depreciation, a measure of the consumption or wearing out of capital assets."Non cash charges in budgets do not impact directly on the fiscal framework. That may be because the national accounts use a different way of measuring the same thing, for example in the case of the depreciation of departmental assets. Or it may be that the national accounts measure something different: for example, resource budgets include a cost of capital charge reflecting the opportunity cost of holding capital; the national accounts include debt interest."Within the Resource Budget DEL, departments have separate controls on:"Near cash spending, the sub set of Resource Budgets which impacts directly on the Golden Rule; and"The amount of their Resource Budget DEL that departments may spend on running themselves (e.g. paying most civil servants’ salaries) is limited by Administration Budgets, which are set in Spending Reviews. Administration Budgets are used to ensure that as much money as practicable is available for front line services and programmes. These budgets also help to drive efficiency improvements in departments’ own activities. Administration Budgets exclude the costs of frontline services delivered directly by departments.The Budget preceding a Spending Review sets an overall envelope for public spending that is consistent with the fiscal rules for the period covered by the Spending Review. In the Spending Review, the Budget AME forecast for year one of the Spending Review period is updated, and AME forecasts are made for the later years of the Spending Review period.The 1998 Comprehensive Spending Review ( CSR), which was published in July 1998, was a comprehensive review of departmental aims and objectives alongside a zero-based analysis of each spending programme to determine the best way of delivering the Government's objectives. The 1998 CSR allocated substantial additional resources to the Government's key priorities, particularly education and health, for the three year period from 1999-2000 to 2001-02.Delivering better public services does not just depend on how much money the Government spends, but also on how well it spends it. Therefore the 1998 CSR introduced Public Service Agreements (PSAs). Each major government department was given its own PSA setting out clear targets for achievements in terms of public service improvements.The 1998 CSR also introduced the DEL/ AME framework for the control of public spending, and made other framework changes. Building on the investment and reforms delivered by the 1998 CSR, successive spending reviews in 2000, 2002 and 2004 have:"provided significant increase in resources for the Government’s priorities, in particular health and education, and cross-cutting themes such as raising productivity; extending opportunity; and building strong and secure communities;" "enabled the Government significantly to increase investment in public assets and address the legacy of under investment from past decades. Departmental Investment Strategies were introduced in SR2000. As a result there has been a steady increase in public sector net investment from less than ¾ of a per cent of GDP in 1997-98 to 2¼ per cent of GDP in 2005-06, providing better infrastructure across public services;" "introduced further refinements to the performance management framework. PSA targets have been reduced in number over successive spending reviews from around 300 to 110 to give greater focus to the Government’s highest priorities. The targets have become increasingly outcome-focused to deliver further improvements in key areas of public service delivery across Government. They have also been refined in line with the conclusions of the Devolving Decision Making Review to provide a framework which encourages greater devolution and local flexibility. Technical Notes were introduced in SR2000 explaining how performance against each PSA target will be measured; and"not only allocated near cash spending to departments, but also – since SR2002 - set Resource DEL plans for non cash spending.To identify what further investments and reforms are needed to equip the UK for the global challenges of the decade ahead, on 19 July 2005 the Chief Secretary to the Treasury announced that the Government intends to launch a second Comprehensive Spending Review (CSR) reporting in 2007.A decade on from the first CSR, the 2007 CSR will represent a long-term and fundamental review of government expenditure. It will cover departmental allocations for 2008-09, 2009-10 and 2010 11. Allocations for 2007-08 will be held to the agreed figures already announced by the 2004 Spending Review. To provide a rigorous analytical framework for these departmental allocations, the Government will be taking forward a programme of preparatory work over 2006 involving:"an assessment of what the sustained increases in spending and reforms to public service delivery have achieved since the first CSR. The assessment will inform the setting of new objectives for the decade ahead;" "an examination of the key long-term trends and challenges that will shape the next decade – including demographic and socio-economic change, globalisation, climate and environmental change, global insecurity and technological change – together with an assessment of how public services will need to respond;" "to release the resources needed to address these challenges, and to continue to secure maximum value for money from public spending over the CSR period, a set of zero-based reviews of departments’ baseline expenditure to assess its effectiveness in delivering the Government’s long-term objectives; together with"further development of the efficiency programme, building on the cross cutting areas identified in the Gershon Review, to embed and extend ongoing efficiency savings into departmental expenditure planning.The 2007 CSR also offers the opportunity to continue to refine the PSA framework so that it drives effective delivery and the attainment of ambitious national standards.Public Service Agreements (PSAs) were introduced in the 1998 CSR. They set out agreed targets detailing the outputs and outcomes departments are expected to deliver with the resources allocated to them. The new spending regime places a strong emphasis on outcome targets, for example in providing for better health and higher educational standards or service standards. The introduction in SR2004 of PSA ‘standards’ will ensure that high standards in priority areas are maintained.The Government monitors progress against PSA targets, and departments report in detail twice a year in their annual Departmental Reports (published in spring) and in their autumn performance reports. These reports provide Parliament and the public with regular updates on departments’ performance against their targets.Technical Notes explain how performance against each PSA target will be measured.To make the most of both new investment and existing assets, there needs to be a coherent long term strategy against which investment decisions are taken. Departmental Investment Strategies (DIS) set out each department's plans to deliver the scale and quality of capital stock needed to underpin its objectives. The DIS includes information about the department's existing capital stock and future plans for that stock, as well as plans for new investment. It also sets out the systems that the department has in place to ensure that it delivers its capital programmes effectively.This document was updated on 19 December 2005.Near-cash resource expenditure that has a related cash implication, even though the timing of the cash payment may be slightly different. For example, expenditure on gas or electricity supply is incurred as the fuel is used, though the cash payment might be made in arrears on aquarterly basis. Other examples of near-cash expenditure are: pay, rental.Net cash requirement the upper limit agreed by Parliament on the cash which a department may draw from theConsolidated Fund to finance the expenditure within the ambit of its Request forResources. It is equal to the agreed amount of net resources and net capital less non-cashitems and working capital.Non-cash cost costs where there is no cash transaction but which are included in a body’s accounts (or taken into account in charging for a service) to establish the true cost of all the resourcesused.Non-departmental a body which has a role in the processes of government, but is not a government public body, NDPBdepartment or part of one. NDPBs accordingly operate at arm’s length from governmentMinisters.Notional cost of a cost which is taken into account in setting fees and charges to improve comparability with insuranceprivate sector service providers.The charge takes account of the fact that public bodies donot generally pay an insurance premium to a commercial insurer.the independent body responsible for collecting and publishing official statistics about theUK’s society and economy. (At the time of going to print legislation was progressing tochange this body to the Statistics Board).Office of Government an office of the Treasury, with a status similar to that of an agency, which aims to maximise Commerce, OGCthe government’s purchasing power for routine items and combine professional expertiseto bear on capital projects.Office of the the government department responsible for discharging the Paymaster General’s statutoryPaymaster General,responsibilities to hold accounts and make payments for government departments and OPGother public bodies.Orange bookthe informal title for Management of Risks: Principles and Concepts, which is published by theTreasury for the guidance of public sector bodies.Office for NationalStatistics, ONS60Managing Public Money————————————————————————————————————————"GLOSSARYOverdraftan account with a negative balance.Parliament’s formal agreement to authorise an activity or expenditure.Prerogative powerspowers exercisable under the Royal Prerogative, ie powers which are unique to the Crown,as contrasted with common-law powers which may be available to the Crown on the samebasis as to natural persons.Primary legislationActs which have been passed by the Westminster Parliament and, where they haveappropriate powers, the Scottish Parliament and the Northern Ireland Assembly. Begin asBills until they have received Royal Assent.arrangements under which a public sector organisation contracts with a private sectorentity to construct a facility and provide associated services of a specified quality over asustained period. See annex 7.5.Proprietythe principle that patterns of resource consumption should respect Parliament’s intentions,conventions and control procedures, including any laid down by the PAC. See box 2.4.Public Accountssee Committee of Public Accounts.CommitteePublic corporationa trading body controlled by central government, local authority or other publiccorporation that has substantial day to day operating independence. See section 7.8.Public Dividend finance provided by government to public sector bodies as an equity stake; an alternative to Capital, PDCloan finance.Public Service sets out what the public can expect the government to deliver with its resources. EveryAgreement, PSAlarge government department has PSA(s) which specify deliverables as targets or aimsrelated to objectives.a structured arrangement between a public sector and a private sector organisation tosecure an outcome delivering good value for money for the public sector. It is classified tothe public or private sector according to which has more control.Rate of returnthe financial remuneration delivered by a particular project or enterprise, expressed as apercentage of the net assets employed.Regularitythe principle that resource consumption should accord with the relevant legislation, therelevant delegated authority and this document. See box 2.4.Request for the functional level into which departmental Estimates may be split. RfRs contain a number Resources, RfRof functions being carried out by the department in pursuit of one or more of thatdepartment’s objectives.Resource accountan accruals account produced in line with the Financial Reporting Manual (FReM).Resource accountingthe system under which budgets, Estimates and accounts are constructed in a similar wayto commercial audited accounts, so that both plans and records of expenditure allow in fullfor the goods and services which are to be, or have been, consumed – ie not just the cashexpended.Resource budgetthe means by which the government plans and controls the expenditure of resources tomeet its objectives.Restitutiona legal concept which allows money and property to be returned to its rightful owner. Ittypically operates where another person can be said to have been unjustly enriched byreceiving such monies.Return on capital the ratio of profit to capital employed of an accounting entity during an identified period.employed, ROCEVarious measures of profit and of capital employed may be used in calculating the ratio.Public Privatepartnership, PPPPrivate Finance Initiative, PFIParliamentaryauthority61Managing Public Money"————————————————————————————————————————GLOSSARYRoyal charterthe document setting out the powers and constitution of a corporation established underprerogative power of the monarch acting on Privy Council advice.Second readingthe second formal time that a House of Parliament may debate a bill, although in practicethe first substantive debate on its content. If successful, it is deemed to denoteParliamentary approval of the principle of the proposed legislation.Secondary legislationlaws, including orders and regulations, which are made using powers in primary legislation.Normally used to set out technical and administrative provision in greater detail thanprimary legislation, they are subject to a less intense level of scrutiny in Parliament.European legislation is,however,often implemented in secondary legislation using powers inthe European Communities Act 1972.Service-level agreement between parties, setting out in detail the level of service to be performed.agreementWhere agreements are between central government bodies, they are not legally a contractbut have a similar function.Shareholder Executive a body created to improve the government’s performance as a shareholder in businesses.Spending reviewsets out the key improvements in public services that the public can expect over a givenperiod. It includes a thorough review of departmental aims and objectives to find the bestway of delivering the government’s objectives, and sets out the spending plans for the givenperiod.State aidstate support for a domestic body or company which could distort EU competition and sois not usually allowed. See annex 4.9.Statement of Excessa formal statement detailing departments’ overspends prepared by the Comptroller andAuditor General as a result of undertaking annual audits.Statement on Internal an annual statement that Accounting Officers are required to make as part of the accounts Control, SICon a range of risk and control issues.Subheadindividual elements of departmental expenditure identifiable in Estimates as single cells, forexample cell A1 being administration costs within a particular line of departmental spending.Supplyresources voted by Parliament in response to Estimates, for expenditure by governmentdepartments.Supply Estimatesa statement of the resources the government needs in the coming financial year, and forwhat purpose(s), by which Parliamentary authority is sought for the planned level ofexpenditure and income.Target rate of returnthe rate of return required of a project or enterprise over a given period, usually at least a year.Third sectorprivate sector bodies which do not act commercially,including charities,social and voluntaryorganisations and other not-for-profit collectives. See annex 7.7.Total Managed a Treasury budgeting term which covers all current and capital spending carried out by the Expenditure,TMEpublic sector (ie not just by central departments).Trading fundan organisation (either within a government department or forming one) which is largely orwholly financed from commercial revenue generated by its activities. Its Estimate shows itsnet impact, allowing its income from receipts to be devoted entirely to its business.Treasury Minutea formal administrative document drawn up by the Treasury, which may serve a wide varietyof purposes including seeking Parliamentary approval for the use of receipts asappropriations in aid, a remission of some or all of the principal of voted loans, andresponding on behalf of the government to reports by the Public Accounts Committee(PAC).62Managing Public Money————————————————————————————————————————GLOSSARY63Managing Public MoneyValue for moneythe process under which organisation’s procurement, projects and processes aresystematically evaluated and assessed to provide confidence about suitability, effectiveness,prudence,quality,value and avoidance of error and other waste,judged for the public sectoras a whole.Virementthe process through which funds are moved between subheads such that additionalexpenditure on one is met by savings on one or more others.Votethe process by which Parliament approves funds in response to supply Estimates.Voted expenditureprovision for expenditure that has been authorised by Parliament. Parliament ‘votes’authority for public expenditure through the Supply Estimates process. Most expenditureby central government departments is authorised in this way.Wider market activity activities undertaken by central government organisations outside their statutory duties,using spare capacity and aimed at generating a commercial profit. See annex 7.6.Windfallmonies received by a department which were not anticipated in the spending review.———————————————————————————————————————— -
18 net present value
Finthe value of an investment calculated as the sum of its initial cost and the present value of expected future cash flows.Abbr. NPVEXAMPLEA positive NPV indicates that the project should be profitable, assuming that the estimated cash flows are reasonably accurate. A negative NPV indicates that the project will probably be unprofitable and therefore should be adjusted, if not abandoned altogether.NPV enables a management to consider the time-value of money it will invest. This concept holds that the value of money increases with time because it can always earn interest in a savings account. When the time-value-of-money concept is incorporated in calculation of NPV, the value of a project’s future net cash receipts in “today’s money” can be determined. This enables proper comparisons between different projects.For example, if Global Manufacturing Inc. is considering the acquisition of a new machine, its management will consider all the factors: initial purchase and installation costs; additional revenues generated by sales of the new machine’s products, plus the taxes on these new revenues. Having accounted for these factors in its calculations, the cash flows that Global Manufacturing projects will generate from the new machine are:.jpg)
At first glance, it appears that cash-flows total 45% more than the $100,000 initial cost, a sound investment indeed. But time-value of NPV calculation money shrinks return on the project considerably, since future dollars are worth less than present dollars in hand. NPV accounts for these differences with the help of presentvalue tables, which list the ratios that express the present value of expected cash-flow dollars, based on the applicable interest rate and the number of years in question..jpg)
In the example, Global Manufacturing’s cost of capital is 9%. Using this figure to find the corresponding ratios on the present value table, the $100,000 investment cost, expected annual revenues during the five years in question, the NPV calculation is shown below.NPV is still positive. So, on this basis at least, the investment should proceed. -
19 manager
сущ.сокр. mgr1) упр. менеджер, управляющий, руководитель, директор, заведующий (лицо, осуществляющее руководство людьми, управление процессами, распоряжение имуществом и т. п.; первоначально термин использовался в основном в частном секторе, однако позже стал применяться и в области государственного управления)Syn:See:absentee manager, account manager, accounting manager, accounts manager, acting manager, administrative manager, advertisement manager, advertising agency manager, advertising manager, advertising production manager, alternative asset manager, area manager, artist's manager, asset manager, assistant manager, assistant to manager, bank manager, benefits manager, booking manager, branch manager, branch office manager, brand manager, building manager, business manager, business promotion manager, CDO asset manager, CDO manager, change manager, circulation manager, claim manager, claims manager, comanager, co-manager, combination export manager, commercial manager, commissary manager, compensation manager, contract manager, customer service manager, data processing manager 1), debt manager, department manager, departmental manager, deputy manager, design manager, display manager 1), district manager, divisional manager, economic manager, employee benefits manager, employee welfare manager, employment manager, engineering managers, entrepreneurial manager, estate manager, executive manager, export manager, export sales manager, factory manager, factory services manager, farm manager, field district manager, field sales manager, finance manager, financial manager, first-line manager, fishery manager, floor manager, functional manager, fund manager, general manager, goods manager, group brand manager, group manager, house manager 1), &2, human resources manager, insurance claim manager, insurance claims manager, insurance manager, integrating manager, interim manager, inventory manager, investment manager, joint manager 1), junior manager, knowledge manager 1) а), labor relations manager, labour manager, line manager, list manager 1), &2, location manager, lodging managers, mailing list manager, market manager, marketing administration manager, marketing manager, marketing research manager, material control manager, media manager 1), middle manager, money manager, national sales manager, new product manager, new products manager, non-owning manager, office manager, one-minute manager, operating manager, operations manager, owner-manager, paid manager, parts manager, pension manager, pension plan manager, pension scheme manager, pensions manager, personal manager, personnel manager, planning manager, plant manager, portfolio manager, primary care manager, procurement manager, procurement services manager, product development manager, product group manager, product line manager, product manager, product promotion manager, product sales manager, production control manager 1), production manager, production theatrical manager, professional manager, program manager 1), project manager, promotion manager, promotional manager, property manager, public relations managers, purchasing manager, quality control manager, quality manager, ranch manager, real estate asset manager, regional manager, regional sales manager, relationship manager, research manager, risk manager, run-off manager, safety manager, sales managers, sales promotion manager, security manager, senior manager, service manager, shift manager, special manager, staff manager, 1), stockroom manager, sub-manager, supplies manager, syndicate manager, system manager 1), technical manager, technology manager, top manager, traffic manager, training manager, transportation manager, turnaround manager, unit manager, upper manager, value stream manager, vice-manager, works manager, manager's assistant, manager's fee, manager's job, manager's performance, manager's qualities, Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc., Lewis v. BT Investment Managers, Inc.2) комп. администратор; менеджер; распорядитель; диспетчер (компьютерная программа либо устройство, предназначенное для автоматической организации данных, управления другими устройствами или программами)Syn:See:data processing manager 2), display manager 2), house manager 2), б, knowledge manager 2) б), list manager 3) б), media manager, production control manager 2), program manager 2), 2), system manager 2)3) фин., банк. банк-организатор займа*, управляющий банк* (банк, входящий в группу организаторов размещения нового выпуска ценных бумаг или синдицированного кредита; может быть главным организатором или одним из организаторов)See:
* * *
менеджер, управляющий: 1) лицо, осуществляющее оперативное руководство компанией или ее подразделением; 2) банк - организатор займа, в отличие от простого участника синдиката; может быть главным организатором (лид-менеджер) или одним из организаторов (коменеджер); см. co-manager;* * *руководитель; менеджер; участник синдиката по размещению ценных бумаг (о банке). . Словарь экономических терминов . -
20 market
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