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Department Of Finance (Philippines)
The Department of Finance (DOF; ) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public sector debt, and the rationalization, privatization and public accountability of corporations and assets owned, controlled or acquired by the government. History The Department of Finance was established on April 24, 1897, at the same time that the Revolutionary Government was founded in Naic, Cavite. General Baldomero Aguinaldo was appointed Director of Finance by General Emilio Aguinaldo. The Finance Director became the Secretary of the Treasury under the first constitutional republican government, the Republic of Biak-na-Bato. In 1901, the Department of Finance and Justice was formally organized by virtue of an act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department Of Budget And Management
The Department of Budget and Management (DBM; ) is an Executive departments of the Philippines, executive body under the Office of the President of the Philippines. It is responsible for the sound and efficient use of government resources for national development and also as an instrument for the meeting of national socio-economic and political development goals. The department has four undersecretaries and four assistant secretaries. History At the beginning of the 20th century, the Second Philippine Commission, acting as a legislative body, enacted appropriations measures for the annual expenditures of the government. This was in accordance with the Philippine Bill of 1902, which decreed that disbursements from the national treasury were to be authorized only in pursuance of appropriations made by law. With the passage of the Jones Law in 1916, the Philippine Legislature was set up with two chambers: the Philippine Senate and the House of Representatives of the Philippines, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cesar Virata
Cesar Enrique Aguinaldo Virata (born December 12, 1930) is a Filipino former statesman and businessman who was the fourth Prime Minister of the Philippines from 1981 to 1986. He is currently serving as the corporate vice chairman of the Rizal Commercial Banking Corporation. He is the eponym of the Cesar Virata School of Business, the business school of the University of the Philippines Diliman. Education While he was studying at Wharton School, Virata studied about American labor, steel industry, automotive industry, and many others which was not discussed when he was a student of the University of the Philippines. He also took money and banking as well as cost accounting and advanced money and banking courses, while doing so. In line with that, he realized that around a third of the things he was learning at Wharton were in reality, not applicable to the Philippine setting, specifically the automotive industry. Government service Finance minister He served as Finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Commission (Philippines)
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Board Of Assessment Appeal (Philippines)
Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as Middle Africa * Central America, a region in the centre of America continent * Central Asia, a region in the centre of Eurasian continent * Central Australia, a region of the Australian continent * Central Belt, an area in the centre of Scotland * Central Europe, a region of the European continent * Central London, the centre of London * Central Region (other) * Central United States, a region of the United States of America Specific locations Countries * Central African Republic, a country in Africa States and provinces * Blue Nile (state) or Central, a state in Sudan * Central Department, Paraguay * Central Province (Kenya) * Central Province (Papua New Guinea) * Central Province (Solomon Islands) * Central Province, Sri Lan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privatization And Management Office (Philippines)
Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out-sourcing"); in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, water supply, and prison management. Another definition is that privatization is the sale of a state-owned enterprise or municipally owned corporation to private investors; in this case shares may be traded in the public market for the first time, or for the first time since an enterprise's previous nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of The Treasury (Philippines)
Bureau ( ) may refer to: Agencies and organizations *Government agency *Public administration * News bureau, an office for gathering or distributing news, generally for a given geographical location * Bureau (European Parliament), the administrative organ of the Parliament of the European Union * Federal Bureau of Investigation, the leading internal law enforcement agency in the United States * Service bureau, a company which provides business services for a fee * Citizens Advice Bureau, a network of independent UK charities that give free, confidential help to people for money, legal, consumer and other problems * Credit bureau, an organization that gathers and shares information about individuals’ and businesses’ credit histories Furniture * Bureau is a piece of furniture with hinged writing space of flap resting at an angle when closed ** Bureau bedstead is form of a folding bed that looks like a bureau when closed ** Bureau cabinet is a combination of a bureau and displ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of Customs
The Bureau of Customs (BoC or BOC; ) is a Philippine government agency that is responsible for the collecting of customs, customs duties, excise duties, and other indirect taxes in the Philippines. It is part of the Department of Finance (Philippines), Philippines Department of Finance. The Bureau of Customs was established on February 6, 1902, by the Insular Government of the Philippine Islands when it was under control of the United States, during the American colonial period of the Philippines. History Prior to European colonization, people in the Philippines traded with others from Southeast Asia. Since money was not yet the medium of exchange, people bartered commodities. The rulers of the barangays collected tributes from the people before they were allowed to engage in trade. The practice of collecting tributes became part of the Customs Law of the Land. The Spanish colonial era During the Spanish Colonial Era of the Philippines, Spain passed three important statut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of Internal Revenue
The Bureau of Internal Revenue'' ''(BIR; ) is a revenue service for the Philippine government, which is responsible for collecting more than half of the total tax revenues of the government. It is an agency of the Department of Finance and it is led by a Commissioner. Romeo Lumagui, Jr. currently serves as the Commissioner of BIR since November 15, 2022. The BIR is responsible for collection of all internal revenue taxes, fees and charges and the enforcement of all forfeitures, penalties, and fines connected with these including the execution of judgments for which it has police powers. History Following the period of the American regime of the Philippines from 1899 to 1901, the first civil government was created under William Howard Taft, Governor-General of the Philippines, in 1902. The BIR would be created under the second civil governor, Luke E. Wright, with the passage of Reorganization Act No. 1189 on July 2, 1904 by the Philippine Commission. With only 69 officials ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fitch Ratings
Fitch Ratings Inc. is an American credit rating agency. It is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission and is considered as being one of the " Big Three credit rating agencies", along with Moody's and Standard & Poor's. History Fitch Ratings is dual headquartered in New York and London. Hearst owns 100 percent of the company following its acquisition of an additional 20 percent for $2.8 billion on April 12, 2018. Hearst had owned 80 percent of the company after increasing its ownership stake by 30 percent on December 12, 2014, in a transaction valued at $1.965 billion. Hearst's previous equity interest was 80 percent following expansions on an original acquisition of 20 percent interest in 2006. Hearst had jointly owned Fitch with FIMALAC SA, which held 20 percent of the company until the 2018 transaction. Fitch Ratings and Fitch Solutions are part of the Fitch Group. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard And Poor's
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is considered the largest of the Big Three credit-rating agencies, which also include Moody's Ratings and Fitch Ratings. Its head office is located on 55 Water Street in Lower Manhattan, New York City. Corporate history The company traces its history back to 1860, with the publication by Henry Varnum Poor of ''History of Railroads and Canals in the United States''. This book compiled comprehensive information about the financial and operational state of U.S. railroad companies. In 1868, Henry Varnum Poor established H.V. and H.W. Poor Co. with his son, Henry William Poor, and published two annually updated hardback guidebooks, '' Poor's Manual of the Railroads of the United States'' and ''Poor's Directory of Railway Officials''. In 1906, Lu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moody's
Moody's Ratings, previously and still legally known as Moody's Investors Service and often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Ratings provides international financial research on bonds issued by commercial and government entities. Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies. It is also included in the ''Fortune'' 500 list of 2021. The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default. Moody's Ratings rates debt securities in several bond market segments. These include government, municipal and corporate bonds; managed investments such as money market funds and fixed-income funds; financial institutions including banks and non-bank finance companies; and asset classes in struct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
