The use of an economic calendar helps in making regular work schedule. It also gives an opportunity to adjust work schedule and duties according to the state of the economy. A financial calendar is a daily chart or tabulation of the revenue and expenditures of any business or organization in accordance with the present state of the economy. The other names of this calendar are production cycle calendar, production cycles calendar, revenue cycle calendar, cost cycle calendar and inventory cycle calendar.
This calendar is an indispensable document for the company manager and the other people in decision making positions. It helps to analyze the progress of the business or organization in terms of production and sale of products and services. The economic calendar is mostly used by companies in planning their activities and budgets. By having an economic calendar one can control and manage their budgeting more effectively.
Economic development, a formal term, refers to the economic development of the country and its economy. It is also called national economic policy, federal policy or international development. In China, the economic calendar provides for the latest trends in the economy, which are largely based on the global economic status. The functions of the Chinese calendar include:
Treasury Fiscal Management – The treasury fiscal management is the part of the government administration, which includes budgeting, tax collection, grants distribution, allocation of expenditures to enterprises and state-owned firms, grants distribution and interest rate management. They also take care of managing public debt. Chinese financial calendar provides for budget allocation in the different sectors in the economy, and by using it, it becomes easy to plan the country’s budget.
Economic News – Economic News that is sent to the country is in accordance with the current situation of the economy and with the requirements of the government. According to the latest trends in the economy, these news are released and published. The fiscal calendar is a tool that is used by the Chinese government to release news that they feel are necessary.
Production Cycle Calendar – The production cycle calendar is a very simple and effective way of checking the current activity of the economy. The calendar helps in planning, implementing and controlling work practices, schedule, wages, products and services distribution among companies and enterprises. This calendar is a very flexible and easy-to-use calendar.
Commercial Operation – To keep track of the sales and production of the various business sectors and how they are improving or declining, the commercial operation calendar is essential. It provides an opportunity to check whether the business is performing well, if there are any problems, and to see the ways and means to solve these problems.
Revenue Cycle Calendar – The revenue cycle calendar is very important for the new businesses or organizations. To check the sales and production of the various business sectors and how they are improving or declining, the revenue cycle calendar is essential.
Monthly Basis – A monthly basis is used for recording the number of days when the bank statement is filed. This makes it easier for keeping a record of all the transactions in a month. In such a system the numbers of days are calculated on the basis of a calculation from the last two days to the first day of the next month.
The financial calendar provides for regular assessment of the financial status of the company. It provides for monthly, quarterly and annual numbers. This financial calendar is very important for the management of the company. The calendar is used to carry out the financial reporting for the government as well as the company.
The financial calendar helps in the estimation of the budget of the company. The economic calendar provides for timely calculation of the amount of income, expense and profit of the company. It is also used to plan the operations of the company and its expenditure. The economic calendar is an indispensable tool in business toplan the operations and budget.