KOSOVO independence AND KOSOVO FACTS Essay Example | Topics and Well Written Essays - 500 words

KOSOVO independence AND KOSOVO FACTS - Essay Example In exchange, Kosovo will eventually gain self governance as guided by EU. Last year (September 10, 2012), Kosovo was given full autonomy when UN and EU peacekeeping forces withdraw its forces from Kosovo after 13 years of UN and EU oversight. Kosovo’s Declaration of Independence was adopted on February 17, 2008 at a meeting of the Assembly of Kosovo declaring itself to be independent from its former host country Serbia. The declaration of independence meant that it will be accorded its own national symbols such as a flag and coat and arms and have its own territory demarcated on its borders. This declaration however was rejected and not recognized by Serbia. Negotiations ensued and when the negotiation did not improve, Kosovo declared its independence unilaterally as Republic of Kosovo with the sight of abiding with the Ahtisaari plan in full when it formulated its own Constitution drafted by Constitutionalist both local and abroad. The law was to take effect in June of 2008, meaning, Kosovo’s formal independence will take into effect and its commitment to Ahtisaari plan of minorities guarantee of their rights and representation in the new government. The Declaration of Independence by Kosovo drew mixed reactions. For one, the northern region which is composed mainly Serbs were sympathetic towards Serbia and thus remained under Serbia’s effective control of which the latter refused to relinquish control despite UN’s order in exchange of full membership in the EU. As expected, the declaration of independence of Kosovo was also contested by Serbia in the UN’s International Court of Justice claiming that it was illegal. The court however decided in favor of Kosovo in October of 2008 by declaring that Kosovo’s declaration of its own independence did not violate any international law. Until now, Kosovo is still in the process of creating its own

Financial Analysis As The Stability Of The Business Essay

Financial Analysis As The Stability Of The Business - Essay Example One of the primary roles played by budgeting is that it helps in maintaining adequate control over the expenditures incurred by the firm. Budgets suitable provide a plan for the organization in respect of future expenses. Budgets help to set standards of performance. The actual performance of a firm can be measured against the budgeted performance. This helps the organization to easily realize its deviation from the set goals and accordingly take steps for correcting the same. Budgeting is done on the basis of forecasting future transactions. This helps an organization to forecast future scenario and anticipate events that may affect the firm's operations. In most organizations, budgets play an important role in decision-making and planning for the coming financial period. On the basis of the forecasted budgets, management is required to decide upon strategies relating to achieving the set targets, reducing costs and maximizing profits. In Section A, ratio analysis of Nene PLC presen ted that the company was a sound and profit-making concern that had to focus more on improving its operational efficiency in order to gain higher profits. In Section B, Project Meeney was ascertained to be the most viable project because it provided Millennium PLC with highest NPV and with the lowest Payback Period. Section C found that the global financial crisis was caused by a mix of financial and governmental failures. The discussion on budgeting presented clear views about the advantages and disadvantages of having budgets in companies.