It is the purpose of this study to discover and report educationally sound practices of activity financing and administration, with special emphasis placed on accounting. This investigation will attempt to disclose present-day common practices in financing the activities and accounting in regard to activity finances, and where advisable to make recommendations to secure more adequate procedures.

The purpose of this study is to attempt to determine a sound source of public school revenue in the state of Texas.

The purpose of this study is to determine whether the present equalization law is sounder than certain previous equalization laws.

South Africa is ranked 146th out of a total of 148 countries by the World Economic Forum for its education system and last in science and mathematics, and yet the government spends up to a fifth of its budget on education. Only 40% of pupils who start schooling in grade 1 will pass matric (grade 12), with just 12% maintaining high enough marks to qualify for university entrance. Any research to boost learning in South Africa, at any level, should be welcomed. The primary goal of higher education institutions is to provide education to post-school students, but the institutions need to be financially viable. Most higher education institutions in South Africa rely heavily on financial support from the government in the form of subsidies (up to 40% of total income in some cases) for funding to remain financially viable. Therefore, government subsidies represent a significant investment into higher education and student retention needs more research in South Africa. Many of the universities in South Africa, especially those that are financially sound, do not take much notice of student dropouts and those that do pay attention, do so firstly at the postgraduate level. The return on investment for master’s and doctoral students is much higher than that for undergraduate students. Understanding the basic elements of the funding framework for South African universities is vital in the understanding of financial losses from student dropouts. The underlying factors that determine the base of funding for higher education have remained the same since the introduction of the Holloway formula in 1953 to the current New Funding Formula (NFF), implemented in 2004. Large amounts of funds are still invested in higher education and there is a national shortage of high quality students in scarce skills, in particular students with a postgraduate qualification. Dropouts result in fewer graduates and large amounts of funding and human capital are wasted on educating students who will never complete their studies. Postgraduate studies have a potential greater loss and a prediction of the expected and unexpected loss for these students may encourage institutions to examine student retention more closely. The latter is an area for concern and needs to be assessed and addressed as soon as possible. / MCom (Risk Management), North-West University, Potchefstroom Campus, 2014

South Africa is ranked 146th out of a total of 148 countries by the World Economic Forum for its education system and last in science and mathematics, and yet the government spends up to a fifth of its budget on education. Only 40% of pupils who start schooling in grade 1 will pass matric (grade 12), with just 12% maintaining high enough marks to qualify for university entrance. Any research to boost learning in South Africa, at any level, should be welcomed. The primary goal of higher education institutions is to provide education to post-school students, but the institutions need to be financially viable. Most higher education institutions in South Africa rely heavily on financial support from the government in the form of subsidies (up to 40% of total income in some cases) for funding to remain financially viable. Therefore, government subsidies represent a significant investment into higher education and student retention needs more research in South Africa. Many of the universities in South Africa, especially those that are financially sound, do not take much notice of student dropouts and those that do pay attention, do so firstly at the postgraduate level. The return on investment for master’s and doctoral students is much higher than that for undergraduate students. Understanding the basic elements of the funding framework for South African universities is vital in the understanding of financial losses from student dropouts. The underlying factors that determine the base of funding for higher education have remained the same since the introduction of the Holloway formula in 1953 to the current New Funding Formula (NFF), implemented in 2004. Large amounts of funds are still invested in higher education and there is a national shortage of high quality students in scarce skills, in particular students with a postgraduate qualification. Dropouts result in fewer graduates and large amounts of funding and human capital are wasted on educating students who will never complete their studies. Postgraduate studies have a potential greater loss and a prediction of the expected and unexpected loss for these students may encourage institutions to examine student retention more closely. The latter is an area for concern and needs to be assessed and addressed as soon as possible. / MCom (Risk Management), North-West University, Potchefstroom Campus, 2014

O novo cenário da macroeconomia e os freqüentes alertas daqueles que estudam o meio ambiente trazem a luz outros fatores que devem ser respeitados num processo de tomada de decisão para qualquer investimento a ser realizado. Neste sentido vem se consolidando o Mercado de Crédito de Carbono no mundo, que se por um lado viabiliza a implantação de um empreendimento por admitir a compensação ambiental, por outro pode viabilizá-lo disponibilizando recursos para a sua instalação e operação. A geração de Crédito de Carbono, isto é, Redução Certificada de Emissões (RCE) e o aporte de recursos no sistema empreendimento em função da negociação dos créditos no Mercado de Carbono, pode se caracterizar em fonte de funding de empreendimentos de geração de energia elétrica no Brasil. Sendo assim, o objetivo desta pesquisa é a montagem de um protótipo de Pequena Central Hidrelétrica - PCH, tendo por base o project finance, enquanto estratégia de investimento e estrutura de negócio e adequado aos padrões do MDL no Brasil visando verificar a viabilidade de utilização das RCEs para compor o funding desses empreendimentos e, consequentemente, a validação de investimentos em geração de energia. Dessa forma, fornecerá as referências necessárias para a análise econômica e financeira do investimento em empreendimentos dessa tipologia. Após a análise dos indicadores da qualidade do protótipo é possível afirmar que com a criação do MDL e outros mecanismos promovidos por ele, os empreendimentos de geração de energia o tipo PCH tornaram-se atrativos para investidores típicos que buscam renda estável e de longo prazo, e o setor elétrico brasileiro sofreu mudanças em sua matriz, onde o crescimento de investimentos em fontes alternativas de energia é uma realidade. / The new scenery of macroeconomics and the alerts frequents of those that study the environment brought up other factories that must be respected in a decision process in any investment to be carried through. In this direction it is coming to consolidate the Market of Carbon Credit in the world, that if on the other hand makes possible the implantation of an venture for admitting the environmental compensation, for another one it can make possible have the resources available for its installation and operation. The generation of Carbon Emission Reduction (CERs) and input of resources in the enterprise system according to the trading of credits at the Carbon Market can be characterized source of funding for projects to generate electricity in Brazil. Therefore, the objective of this research is the assembly of a prototype of small hydroelectric - PCH, based on project finance, as investment strategy and business structure and appropriate standards of the CDM in Brazil to check the feasibility of using CERs to compose the funding of these projects and hence the validation of investment in power generation. Thus, it will provide the necessary references to the economic and financial analysis of investment in projects of this type. After analyzing the indicators of the quality of the prototype is possible to say that with the creation of the CDM and other mechanisms promoted by him, the development of power generation type SHP became attractive to the typical investors who seek steady income and long-term and the Brazilian electric sector has undergone changes in their type, where the growth of investments in alternative energy sources is apparent.

Esta pesquisa buscou contribuir para os conhecimentos relativos ao financiamento e à gestão democrática da educação cuja questão principal é a análise da política municipal dos recursos financeiros descentralizados para as escolas de Dourados (MS) no período de 2005 a 2008. Buscou-se analisar a política de descentralização dos recursos financeiros implantada na gestão do PT de Dourados (MS) (2005-2008), compreendendo-a no bojo das disputas sociais como instrumento importante na alteração da correlação de forças que visa à radicalização da democracia na escola, compreendendo até que ponto ela contribuiu para democratizar a gestão da escola. A metodologia da pesquisa foi descritivo-analítica e incluiu tanto a análise de documentos (dados diretos produzidos no município, como atas, relatórios, planos de trabalho, legislação, dados diretos e indiretos, em especial do FNDE/MEC, como relatórios de prestação de contas, orçamento, legislação, entre outros) quanto entrevistas realizadas com diferentes sujeitos gestores municipais, pais, alunos, professores e direção de duas escolas públicas municipais de Ensino Fundamental sobre a gestão e a política dos recursos financeiros descentralizados, indagando até que ponto ela pressupôs o exercício das práticas participativas visando à democratização da gestão da escola. Trabalhou-se inicialmente com a hipótese de que a política de descentralização dos recursos financeiros para as escolas municipais de Dourados (MS), implantada pela administração do Partido dos Trabalhadores (PT) não foi conduzida de forma participativa, bem como esteve permeada por princípios da racionalidade técnica instrumental. A matriz para análise se sustenta em alguns pressupostos teóricos que analisam os programas descentralizantes, demonstrando a importância da política de descentralização de recursos financeiros para as escolas (CAMARGO, 1997) e compreendendo que a tendência de universalização das políticas de assistência financeira automática indica a insuficiência de recursos financeiros para alcançar resultados redistributivos que surtam efeitos de equalização de oportunidades educacionais nas escolas (FARENZENA, 2010), de modo que esses programas compõem a política de financiamento educacional que, em última instância, visa assegurar a política macroeconômica do Estado (CRUZ, 2009). Os dados coletados foram organizados em quatro chaves de análise, a saber: a) a gestão da escola na visão dos agentes escolares; b) mecanismos de gestão democrática e a participação da comunidade escolar; c) a participação da comunidade da escola na gestão dos recursos financeiros descentralizados; d) as decisões e as estratégias de gestão dos recursos financeiros nas escolas. Os resultados revelam que a política de descentralização de recursos financeiros elaborada na gestão do PT, embora demonstrasse limitações quanto às formas de gestão participativa, repercutiu positivamente entre os sujeitos das escolas, sem, contudo, contribuir para alterar as práticas de gestão patrimonialista que visam excluir os pais e alunos das decisões tomadas pela escola. / This study aims at the funding and democratic administration of public education. Its main focus is an analysis of municipal policy for decentralized school funding resources in Dourados, Mato Grosso do Sul, Brazil, between 2005 and 2008. Such policy analysis assesses its contributions to a democratic school administration. A descriptive-analytical methodology was applied to this study. It included an analysis of documents (produced in the municipal district: minutes, reports, work plans, legislation, etc.; and in the federal departments, especially FNDE / MEC, through reports, budgets, legislations, etc.) andinterviews with different subjects municipal managers, parents, students, teachers and principals of two municipal public elementary schools. The focus was on policies and the administration of decentralized funding resourcesto assess how and when community practicesare needed for the democratization of schooladministration. The first hypothesis shows that the policies for decentralization of funding resources in Dourados municipal schools, implemented by the PT(Workers Party) administration within that period, were not based on community practices. Actually, they were based on principles of instrumental/technical rationality. Three points were taken into consideration in this study: the importance of decentralization policies for schoolfunding resources (CAMARGO, 1997); the assessment of redistributed resources which balanced education opportunities in schools (FARENZENA, 2010); and education funding policies thatwere coherent to the Brazilian macroeconomicpolitics (CRUZ, 2009). Collected data were organized in four (04) analysis groups: a) the school administration from the school agents\' point of view; b) the mechanisms of democratic administration and the participationof the school community; c) the participation of the school communityin the administration of decentralized funding resources; d) administration decisions and strategies for school funding resources. The results show that the decentralization policies for the funding resources developed during the PT administration, although limited as far as community administration is concerned, had positively feedback from the subjects in schools. However, it did not contribute to change the property management practices, which leave parents and students out of the decisions taken by the school administration.

Equity crowdfunding (ECF) is the smallest of four main types of crowdfunding (CF) and has emerged as a new form of investment, where investors receive equity of a company in return for capital. Over the past years, the development of CF has given entrepreneurs the option to seek funding from a new source, instead of relying solely on venture capital (VC) and other sources of funding (Mollick, 2013). However, the implementation of regulations for ECF has not yet developed enough to make such investing equally consistent for everyone.   Equity crowdfunded ventures can potentially attract a large number of investors that can possibly create corporate governance issues between the entrepreneur and investors. Additionally, individual investors might both lack the competence or incentive to extensively research and assess a venture and make an investment. Due to the growth in ECF and the lack of knowledge of it, the purpose of this thesis was to discover the perceptions of Swedish fund managers (FMs) regarding the nature of ECF and their interest in it.   In order to fulfill the purpose of this study, previous studies were carefully examined to gain a thorough understanding of the area of study. Furthermore, the empirical findings were gathered through a course of seven semi-structured interviews of Swedish FMs.   Empirical findings suggested that ECF has remained as a means of providing only seed-stage funding for ventures and that it is a marginal phenomenon in Sweden. ECF was believed to potentially disturb the VC industry if it grew and moved to a later stage. Additionally, ECF was found to be a good option for companies that were unable to receive funding from traditional funding methods. Risks of fraud and other scandals should be prevented for ECF to maintain its popularity. The findings implied that the future of ECF remains uncertain. Based on the perceptions of Swedish FMs, ECF neither would replace nor be a threat to traditional methods.

The purpose of this study was to compare per pupil receipts for operation in most school districts in Texas based on the changes in State funding provided for by three major finance bills and to analyze the effects of federal monies provided by Title I of the Elementary and Secondary Education Act of 1965 to determine the degree of equity in the State's school finance structure. The population consisted of 973 public school districts reporting all data for 1974-75, 1976-77, and 1977-78. The districts were grouped into ten wealth deciles based on School Tax Assessment Practices Board assessed property value per student in average daily attendance. A weighted mean value for each decile for each category and year of funding was computed. Correlation coefficients were computed to provide an index of relationship between the categories of dollars available per pupil for operations. Coefficients of variation were determined to express the magnitude of variation relative to the average value for each additive category for each decile.

O novo cenário da macroeconomia e os freqüentes alertas daqueles que estudam o meio ambiente trazem a luz outros fatores que devem ser respeitados num processo de tomada de decisão para qualquer investimento a ser realizado. Neste sentido vem se consolidando o Mercado de Crédito de Carbono no mundo, que se por um lado viabiliza a implantação de um empreendimento por admitir a compensação ambiental, por outro pode viabilizá-lo disponibilizando recursos para a sua instalação e operação. A geração de Crédito de Carbono, isto é, Redução Certificada de Emissões (RCE) e o aporte de recursos no sistema empreendimento em função da negociação dos créditos no Mercado de Carbono, pode se caracterizar em fonte de funding de empreendimentos de geração de energia elétrica no Brasil. Sendo assim, o objetivo desta pesquisa é a montagem de um protótipo de Pequena Central Hidrelétrica - PCH, tendo por base o project finance, enquanto estratégia de investimento e estrutura de negócio e adequado aos padrões do MDL no Brasil visando verificar a viabilidade de utilização das RCEs para compor o funding desses empreendimentos e, consequentemente, a validação de investimentos em geração de energia. Dessa forma, fornecerá as referências necessárias para a análise econômica e financeira do investimento em empreendimentos dessa tipologia. Após a análise dos indicadores da qualidade do protótipo é possível afirmar que com a criação do MDL e outros mecanismos promovidos por ele, os empreendimentos de geração de energia o tipo PCH tornaram-se atrativos para investidores típicos que buscam renda estável e de longo prazo, e o setor elétrico brasileiro sofreu mudanças em sua matriz, onde o crescimento de investimentos em fontes alternativas de energia é uma realidade. / The new scenery of macroeconomics and the alerts frequents of those that study the environment brought up other factories that must be respected in a decision process in any investment to be carried through. In this direction it is coming to consolidate the Market of Carbon Credit in the world, that if on the other hand makes possible the implantation of an venture for admitting the environmental compensation, for another one it can make possible have the resources available for its installation and operation. The generation of Carbon Emission Reduction (CERs) and input of resources in the enterprise system according to the trading of credits at the Carbon Market can be characterized source of funding for projects to generate electricity in Brazil. Therefore, the objective of this research is the assembly of a prototype of small hydroelectric - PCH, based on project finance, as investment strategy and business structure and appropriate standards of the CDM in Brazil to check the feasibility of using CERs to compose the funding of these projects and hence the validation of investment in power generation. Thus, it will provide the necessary references to the economic and financial analysis of investment in projects of this type. After analyzing the indicators of the quality of the prototype is possible to say that with the creation of the CDM and other mechanisms promoted by him, the development of power generation type SHP became attractive to the typical investors who seek steady income and long-term and the Brazilian electric sector has undergone changes in their type, where the growth of investments in alternative energy sources is apparent.