FINANCIAL PLANNING

Definition of Financial Planning

Financial Planning is the process of estimating the capital required and determining its competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an enterprise.

FINANCIAL ADMINISTRATION

Meaning of Financial Administration

The term Financial Administration consists of two words. 'Finance' and 'Administration'. The word 'administration' refers to organization and management of collective human efforts in the pursuit of a conscious objective. The word 'finance' refers to monetary resource. Financial administration refers to a set of activities which are related to making available money to the various branches of an organization to enable it to carry out its objects. Whether it is a family, business or a government department, its day to day activities depend on the availability of funds with which financial administration is concerned.

SOURCES OF FINANCING

Financing is defined as the act of providing funds for business activities, making purchases or investing. Financial institutions and banks are in the business of financing as they provide capital to businesses, consumers and investors to help them achieve their goals. The Education funding comes from many different sources. The total level of funding a country dedicates to education is the result of the total level of funding provided by each one of these sources. The main sources of education finance are the following:
1. Public finance (Federal & Provincial government)
2. Taxes (Direct & Indirect)
3. Fee & Services
4. Private organizations (NGOs)
5. Foreign funding (Loans & Aids)

EDUCATIONAL PHILOSOPHIES

Within the epistemological frame that focuses on the nature of knowledge and how we come to know, there are four major educational philosophies, each related to one or more of the general or world philosophies just discussed. These educational philosophical approaches are currently used in classrooms the world over. They are Perennialism, Essentialism, Progressivism, and Reconstructionism. These educational philosophies focus heavily on WHAT we should teach aspect of the curriculum.

AREAS IN PHILOSOPHY

Philosophy is the study of general and fundamental problems such as those concerned with knowledge, values, reason and mind. Literally the word philosophy means the love of wisdom and so it is the in-depth scientific study of facts of the universe and it has three basic areas such as:

·         Epistemology
·         Ontology
·         Axiology

EDITOR'S ROLE IN PREPARING MANUSCRIPT

PUNJAB TRAVELLING ALLOWANCE RULES 1976

PUNJAB TRAVELLING ALLOWANCE RULES

The 10th July, 1976

No. FD/Accounts/OSD/498 -- In exercise of the powers conferred by Section 23 of the Punjab Civil Servants Act, 1974, the Governor of the Punjab is pleased to make the following Rules, namely:-

SECTION I - TRAVELLING ALLOWANCE

1.1 Short title -- These rules may be called the Punjab Travelling Allowance Rules.

1.2 Commencement -- They shall come into force at once.

1.3 The Travelling Allowance Rules in force in the Punjab immediately before the coming into force of these rules shall stand rescinded.

GRATUITY LAW IN PAKISTAN

Gratuity is a one of the retirement benefits for long service. Before May 1972, the payment of gratuity by employer was on voluntary basis, after that it was incorporated in Standing Orders and becomes a statutory obligation of employers. Since then payment of gratuity is a legal benefit of eligible worker.

There are three different retirement benefits defined in Standing Order 12(6) i.e. “Gratuity” or “Provident Fund” or “Approved Pension Fund”. The establishment employing or employed certain number of workers is legal liable to offer at least any one of the retirement benefit.