NYS Methodology for Economics and Statistics

Working Draft:

NYS Methodology for Economics and Statistics : Index of Coincident Economic Indicators.

Following the lines of Financial Decision Making in the Empire State the important role of Economics and Statistics in Quantitative Decision Making is a key tool set for solutions that range from Tax Policy to Economic Growth support and Program Analysis, Consideration and Implementation in the Empire State.

Setting the Grounds:

We have a strong interest in support of Quantitative Analysis in the Empire State for the opportunity to better connect with Macro Economic Decision Making. The Micro Economic Reporting of Businesses, Non Profits and Individuals in the State roll up to a broader framework of Financial Decision Making through Economics and Statistics. This includes an interest in the opportunity to assist on Public Finance challenges today and in the future, a role best supported through a better understanding of the methods of Quantitative Analysis and Quality control that correspond to Economic and Statistical Analysis for Decision Making in the Empire State.

Where Macro and Micro Economics connect (the brige through Accounting):

It's an interesting point to know that in Business, Non Profit and Individual roles the Micro Economic decision making is supported through Accounting, Taxes and Financials, but in the broader context of Public Policy and important decision making on Local, State and National Financials - the Decision Making is driven through Quantitative Analysis through Economics and Statistics that are applied for sampling the population to determine the various needs and expected outcomes on Policy and Decision Making.

The Factors of Interest:

In a time of persistent challenges in Public Finance at the Local, State and National Levels - growth in knowledge is a good place to start in support of the needs on  Public Finance. It also helps that we deeply enjoy the Financial, Economic, Statistical and Legal Research elements of identifying how public decision making progresses. Any Local, State or National Government deals with significant problem solving on Financials and the knowledge growth on problem solving bears relevance to the needs of Individuals, Non Profits and Businesses on Financials. Along the points of discovery are many levels of knowledge growth in support of Business Strategy.

Some History on Us:

We are currently in our fourth calendar year of following a consistent line of connecting research on the Accounting, Taxes, Financials, Economics, Statistics, Legal and Regulatory points of Financial Decision Making in the first instance for the support of Entity and Individual needs on Financials and in the residual beneficial role to help support knowledge growth on Public Finance and related support opportunities to help on the challenges over time through knowledge and awareness.

Our interest is to support Quantitative Analysts and Research for Business Development and Growth and to help Tax Payers in the Empire State better connect with an understanding of the conceptual framework of Taxation in connection to Policy. The greater understanding of Economics, Statistics, Policy and Taxation helps to place the obligations of Taxation in the broader context of how we all work together in the Empire State. Taxation is an important civic duty, and also a key way that we all work together in Localities, Cities and States. It's important therefore to understand the mechanical framework of Macro Decision Making that works with Taxation as the funding method for Policy Level Decisions. Your point of awareness as a Tax Payer places this whole Tax Season in a greater context of an impressive framework for Large Scale Decision Making in the Macro Economy of the Great State of New York.

Since the earliest days when I was fortunate enough to volunteer in the NYC Audit Department (in the early days of the Guliani administration), I have held a deep appreciation of the complexity of  Financial Management in Governance. During that time I had the privilege of working with some ex-GAO professionals who saw my interest and opened a door of continual learning through sharing insight to understanding of the mechanics of Financial Governance. That learning is most meaningful in context to help us ALL work together better on the important problem solving for the current and future challenges in public finance. If you have taken the time to read this it is a common interest we share to help on improvements in Public Finance through awareness. Being aware can help you better participate in the active decision making that is ultimately reflected in Individual, Family, Community, Government, Non Profit and Business Financials.

Is there a common Standard Setting Framework for Economics and Statistics ? - the Accountant considers that Financials and Accounting have GAAP and IFRS - what common standards guide Economics & Statistics ? :

The simple answer is that while Statistics have common formulas and that it is in the method of structuring surveys and tests where there is more variability. The standards may change depending on where you are working. We are continuing to learn more of this but here is the answer in reference to NYS level Econometrics in more detail:

In the process of considering the framework of Financial Decision Making a relevant question from the Accounting perspective became what is the relevant framework of decision making and controls in the area of Economics and Statistics. As you may or may not be aware Financials and Accounting correspond to Standards defined by FASB and potentially to IFRS for Financials. For Compliance Financials and Accounting correspond to Laws and Rules that include Federal, State and Local Elements of Compliance, Statistical Reporting and Taxation.

By way of frame of reference it became a relevant question to seek to define the obvious point that Economics and Statistics must also correspond to a defined centralized rule set. Through process of Research we have connected with these rule sets as part of Our ongoing analysis in the Year of Statistics 2013 . Depending on the Economics and Statistics area there are various points for defined rules - but not in the same manner as the centralization of Standards for Accounting under GAAP or IFRS. 

We are continuing to review and learn more about comparative applied Economics and Statistics adnd Econometrics across the Economy but this is one finding at point.

Lessons Learned and Learning Pending:

Behind the scenes we are analyzing a broad survey of the Standard Setting methods of Statistics - where we have compiled a significant amount of  resources and data for  knowledge that will take some time to clear through. We are not rushing this because from Our perspective the study of applied Economics and Statistics through Econometrics is important and very interesting.

It's taken for granted that if you've read this far you appreciate our interests in learning more of applied Quantitative Methods and their important role in both Public Finance and Policy Decision Making. It is an impressive point of fact that Economics and Statistics can work together using surveys, samples and tests on data to produce meaningful decision making and of course that decision making is relevant to everything we do as Financial Decision Makers through Financials, Taxation and Compliance.

While our overall work is part of a framework for better understanding Public Finance in general from the Local, City, State, National and International points of Decision Making. The consideration here is focused on an element that is substantial enough in it's own right - Financial Decision Making for the Empire State and the contextual framework of Economics and Statistics controls that are place in the process of producing Analyses for NYS. It's an interesting point and the real application of Economics and Statistics to producing meaningful data insight for Decision Making is helpful to the educational process of knowledge growth for understanding of Public Finance Decision Making and the ways we all connect as Financial Decision Makers in Business, Non Profit, Individual and Governance roles on Financials.

Limiting the scope here to NYS - below please find the NYS Statistical Methods for Public Finance Analysis. It is an important answer to a question we considered about what exactly are the controls of Financial Decision Making for Economics and Statistics when leading into data for Public Policy Decision Making with further impact to the broader scope of Financial Decision Makers across the State.

NYS Methodology Book by NYS

DCarsonCPA.com is your weblink to the practice of Dean T. Carson II, CPA a knowledge driven practice that connects the lines of knowledge, experience, teamwork and research in support of Financial Decision Makers in Individual, Family, Community, Industry, Non Profit and Government roles on Financial Decision Making. For the lines of Advisory, Business and Non Profit support and the opportunity to help us all better connect to ways to assist on the current and future challenges in Public Finance. Knowledge is a key point of informed decision making.

We welcome the opportunity to support clients needs on services and to help where we can in the places where we can all learn more and help on decision making through awareness. Find us at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com to learn more.