QN) With close reference to university education in Kenya, discuss the various means of financing education and evaluate the equity implications. To answer this claim, we start by defining critical terms so as to clearly get the full meaning of this assertion. Education is the process act or process of impacting or acquiring general knowledge, developing the powers of reasoning and judgement, and generally of preparing oneself or others intellectually for mature life. It can also be defined as the process of acquiring desirable skills, attitudes and knowledge, as for a profession University education means the totality of general and specialized knowledge and skills that enable a university graduate to solve problems that he encounters in industry or to perform scientific research or pedagogical work within the area of specialized knowledge that he has acquired. Financing refer to how people allocate their assets over time and conditions of certainity and uncertainity while education financing refers to any aspect of raising and spending revenue for educational purposes. Kenya as one of the developing countries in Afrca is faced with the problem of financing its education. Despite the role of the universities in teaching, undertaking research and training of skilled manpower for economic development, public and private universities in developing countries especially those in Africa are facing financial crisis. Universities in Kenya gets financial aids from different sources which include; finances from parents, self finance, Banks-some banks give education loans to students or parents, cooperative societies, Constituency Development Funds[C.D.F], scholarships from educational institutions e.g universities, charitable organizations, HELB loans, Harambees, Donations, bursaries among others. Sources of educational funds are both internal and external. Internal funds refers to finances from within the institution for example; Fees from the students, Income generating activities among others. While external funds come from outside the university for example; Religious organizations, Funds from central and local government, companies and organizations, scholarships, loans, International bodies, Non- Governmental Organization(NGO’s) etc.
Central and local government are generally the most important sources of educational finances. The government is generally the most important and crucial source of funding for university education. The government through the parliament passed a bill that seeks to introduce radical changes to higher education, establishing a Commission for University Education(C.U.E) to be vested with wide-ranging powers as one of four new bodies running the sector in the country. The universities Act 2012 published on 24th September in Kenya gazette supplement 121 and signed by higher education, science and technology minister Margaret Kamar abolishes the decades old Commission for Higher Education(C.H.E) which has hitherto regulated the sector and replaces it with the Commission for University Education. The universities Act 2012 stipulates that funds of a public university shall comprise: such sums as may be granted to the university by the parliament, such monies or assets as may accrue to or vest in the public university in the course of the exercise of its powers or the performance of its functions under this Act or under any other written law; and all monies from any other source provided for or donated or lent to the public university with...
...on higher education funding…....4-5
3. Sources of funding higher education…………………6
4. The government policy………………………………..7-8
5. Alternative funding programs……………………….9-10
6. Conclusion …………………………………………….11
The recent shocking revelation of many employees in the public service of Kenya with no post secondary academic qualifications is perhaps an awakening call for the government to evaluate its labour policies. More than the corruption connotation of these findings is a call for the government to make an intentional move to enhancing the labour productivity by expanding financing for higher education. Often the need for financing higher education is brought to our attention when we get news about a successful KCSE candidate raising calls for well wishers to sponsor them for their higher education. Sometimes the media will facilitate an outcry for sponsorship for a needy student but scarcely are noticed the many other cases. There is a concern that the future is bleak for the youthful talents as many broken dreams and careers are hampered due to lack of funding for higher education. This is a milestone to enhancing and expanding economic in Kenya.
Researchers and policy makers have delved into the questions of the ideology of the government spending on higher...
...Kenyan Education System: Issues and Obstacles to Learning
Posted by Lee-Anne Benoit on April 27th 2013
I’m back again with an outline of what I’ve learned about the Kenyan Education system from the diverse experiences that I’ve had. You’ll notice this blog is slightly more academic in nature, but I felt that it was important to find research to back up my own observations.
Education is perceived as one of the principal motivating factors behind national economic development and it is one of the most effective ways in which individuals can ever hope to achieve better opportunities and a higher standard of living in Kenya. For these reasons Kenya has invested heavily into its education system over the past twenty years. It is my primary objective in this blog to express all that I have learned about the primary and secondary education systems in Kenya in the short 12 weeks that I have been here. I discuss the structure of primary and secondary schools, the implementation of universal free primary education (FPE), limited and equitable access to education, obstacles to learning within the classroom, special needs education and inclusion. My understanding is derived from my experiences visiting and working at eleven different public and private schools in Kenya, two Masters courses in Special Needs...
...represent or could be reasonably expected to represent.
f) With Cost- benefit Features.
KDC’s the preparation of information will certainly incur cost such as the costs of collecting, analyzing and interpreting the data obtained. Thus, it is important that the information can bring returns that cover the costs involved. In other words, the value of the information obtained must be more than the costs of obtaining it. The information must be useful before it can produce results.
All in all, the accounting information is too particular, will enlarge the risk of investor decision-making, therefore the formation of the happening of internal control is leap to influence the entire capital market competence and capital market financing capacity. Thus, accounting information must allow the reader to recognized, so that it can be used properly.
KDC must plan for success. What does it mean to plan? It is about deciding on a course of action to reach a desired outcome. Planning must occur at all levels. First, it occurs at the high level of setting strategy. It then moves to broad-based thought about how to establish an optimum position to maximize the potential for realization of goals. Finally, planning must give thoughtful consideration to financial realities/constraints and anticipated monetary outcomes (budgets).
A business organization may be made up of many individuals. These individuals must be orchestrated to work...
..."He who opens a school door, closes a prison." ~ Victor Hugo
The first time we are introduced to formal education is in school. The school years are the grounding years of one's education. Schools are institutions that lay the foundation of a child's development. They play a key role in developing children into responsible citizens and good human beings. It's a school where young talent is recognized and nurtured. On leaving school, we are all set to soar high in life, and enter the real world in pursuit of our dreams.
Education provides us with knowledge about the world. It paves the way for a good career. It helps build character. It leads to enlightenment. It lays the foundation of a stronger nation. Education makes a man complete. Kautilya, an Indian philosopher, royal adviser, and professor of economics and political science very rightly underlined the importance of education, some 2000 years ago. He has highlighted the fact that education enriches people's understanding of themselves. He has said that education is an investment in human capital, and it can have a great impact on a nation's growth and development.
So, Why is Education Important?
It Gives Knowledge
"An investment in knowledge pays the best interest." - Benjamin Franklin
A direct effect of education is knowledge gain. Education gives us knowledge of...
...n physics, measure of the turning effect, or torque, produced by a force acting on a body. It is equal to the product of the force and the perpendicular distance from its line of action to the point, or pivot, about which the body will turn. The turning force around the pivot is called the moment. Its unit is the newton metre.
The moment of a force can be worked out using the formula: moment = force applied × perpendicular distance from the pivot. If the magnitude of the force is F newtons and the perpendicular distance is d metres then:
moment = Fd
It is easier to undo a bolt using a long spanner than a short spanner. This is because more turning force is produced at the bolt (pivot) with less effort. A long spanner is an example of a force multiplier.
In a simple balanced see-saw, the forces acting on the left- and right-hand sides of the pivot are the same. This is known as balancing moments. Moving the load at one end will cause the see-saw to become unbalanced. To regain balance, the load on the opposite side must either be increased or its position changed. This is known as the principle of moments.
The application of balancing a moment of force (or a turning force) is used by a rope walker. By holding the pole in the middle the rope walker is balancing the turning force on either side of the rope. As the rope walker moves a leg, the turning force on one side is greater and becomes unbalanced. To regain the balance, the pole is shifted to balance the...
Rich’s idea of “claiming an education” also applies within our pursuit to defining an educated person. Rich explains that a student should not think about education as “receiving it”, but to be thought of as “claiming it” (Rich 1979 pp. 365). Rich explains that claiming an education is taking as if one were the owner. I agree with Rich, students should have the mentality of taking the education being given to them. There is a difference between claiming what is rightfully yours, and taking what if rightfully yours. One difference is that when you claim something, you are putting in effort to learning what is being taught. For example, a student that goes to class and learns whatever the lesson was for that day, would in my terms be called receiving. On the other hand, if that same student were to go to the instructor’s office hours and basically use the resources that there are around campus, that would be claiming. The mere difference of going one step above the other makes the difference between the two. Rich also backs this idea of claiming, with the simple act of participating in class, becoming more engaged in class and the teacher’s professional life. This idea of claiming an education is not limited to those in school, because not every educated person goes to college, or needs a college degree. It is helpful in order to have something to fall back upon. One way we can connect...
...Toyota Motor Financing Activities
Debt to Equity (Total Liabilities / Total Equity)
This ratio measures the financial leverage of a company by indicating what proportion of debt and equity a company is using to finance its assets. A lower number suggests there is both a lower risk involved for creditors and strong, long-term, financial security for a company.
Based on the debt ratio of Toyota, as of 2009, the debt ratio is much higher than of other financial year. The year to year debt ratio shows a declining trend, this may indicates that Toyota is trying to reduce its leverage hence their solvency risk.
Debt to Total Assets (Total Liabilities / Total Assets)
This ratio measures what proportion of debt a company is carrying relative to its assets. A ratio value greater than one indicates a company has more debt than assets. Naturally, companies and creditors prefer a lower number.
Based on the ratios above, as of 2009, Toyota has higher ratio. The chart shows declining trend, this shows Toyota the ability of them to finance their obligation is getting better, lower ratio indicates that Toyota is able to obtain additional debt financing in the next financial year, in which they did in the current year 2013.
Long Term Liabilities to Working Capital (Long Term Liabilities / (Current Assets - Current Liabilities)
This ratio measures the degree to which a company's long-term debt has been...