Financial Management Applications Research Articles

Features of financial management application in small enterprises

Features of financial management application in small enterprises

Ranking-based MCDM models in financial management applications: analysis and emerging challenges

Over the last decades, the academic and professional communities have paid much attention toward the use of multi-criteria decision-making methods in a range of business and financial problems due to the variety and complexity of their decisions. Within this branch of operations research, the value-based and outranking relations approaches stand as two of the most powerful methodologies for decision-makers and analysts to produce accurate predictions and consistent evaluations in financial decision-making problems. This paper aims to provide an in-depth presentation of the contributions of multi-attribute value-based and outranking relations methods to a group of relevant financial applications in the period 2000–2018, putting the emphasis on the state-of-the-art developments and identifying open questions and critical challenges that deserve further research efforts.

Financial Management Practices and Growth of Small and Medium-Scale Enterprises: The case of Kassena-Nankana West District

The promotion of financial management practices and growth of Small and Medium-scale Enterprises (SMEs) can contribute significantly towards the sustained elevation of a nation for a better or more humane life. SMEs play a crucial role in addressing the impediments of poverty, inequality and job creation. Yet, many SMEs face numerous challenges ranging from the lack of capital, poor management skills and the application of best financial management practices.This paper explores SMEs’ financial management skills and practices in relation to their growth. The study used questionnaire to collect data from managers or owners of SMEs. Descriptive statistics was used to present the results of the data. Not only that but also, a multiple regression model was also used to test the correlation between financial management practices of SMEs and business growth. The results indicates a moderate correlation between the financial management practices of the SMEs and the growth of the enterprises. Based on the findings, it is recommended for targeted financial education programmes to help managers and owners of SMEs develop and adopt best financial management practices.

KEUANGAN SEDERHANA DAN PENYAJIAN LAPORAN KEUANGAN MENGGUNAKAN SOFTWARE AKUNTANSI BERBASIS EXCEL PADA CLOTHING “DOBUJACK” KOTA BANDUNG

Dobujack is a privately owned company engaged in the manufacturing industry of clothing, bags, shoes, etc. In running its business, Dobujack already has workshops and showrooms to produce and market the products it produces. Dobujack has a production capacity of 10,000 pieces of T Shirts per month in all sizes, 200 jackets with all size sizes (L, M, XL, and S) and 5,000 pairs of shoes with a size that is held by 25 (twenty five) employees on 2 ( two) workshops covering 1,300 m2, and the remainder are produced with the maklun system. The purpose of this study is to find out about the process of applying financial management in terms of presenting financial statements of individual industrial companies named Dobujack. This research uses descriptive verification method, which is to find out the description of the object under study in accordance with real conditions in the field. In terms of data collection, the compiler does it by using interview techniques, literature review and on the spot directly to the object under study. Based on the results of the study showed that the activities of this company have not fully used the application of good financial management, the financial statements used are limited to knowing cash and sales positions. And online transaction reports can be accessed only by the owner. With this dedication research, it is hoped that this clothing company will be able to present financial reports properly and correctly according to accounting standards. This is done in order to anticipate the company's progress in the future.

PERANCANGAN SISTEM INFORMASI MANAJEMEN KEUANGAN DI AMIK GARUT

Financial information system is an information system that provides information to individuals or groups of people, both inside and outside the company that contains financial problems and information about the flow of money for users in the company. Financial information systems are used to solve financial problems in a company, by meeting three financial principles: fast, safe, and inexpensive.Quick principle, the intention is that financial information systems must be able to provide the required data on time and can meet the needs. The Safe Principle means that the financial information system must be prepared with consideration of internal controls so that company assets are maintained. The Principle of Inexpensive, the intention is that the cost of implementing a financial information system must be reduced so that it is relatively inexpensive.Therefore we need technology media that can solve financial problems, and produce financial information to related parties quickly, safely and cheaply. One example of developing information technology today is computer technology and internet. Starting from financial problems and technological advances, the authors make a website-based financial management application to facilitate the parties that perform financial management and supervision.Method of development application program is used Waterfall method, with the following stages: Software Requirement Analysis, Software Design, Program Code Making, Testing, Support, Maintenance.

PERANCANGAN SISTEM INFORMASI MANAJEMEN KEUANGAN DI AMIK GARUT

Financial information system is an information system that provides information to individuals or groups of people, both inside and outside the company that contains financial problems and information about the flow of money for users in the company. Financial information systems are used to solve financial problems in a company, by meeting three financial principles: fast, safe, and inexpensive.Quick principle, the intention is that financial information systems must be able to provide the required data on time and can meet the needs. The Safe Principle means that the financial information system must be prepared with consideration of internal controls so that company assets are maintained. The Principle of Inexpensive, the intention is that the cost of implementing a financial information system must be reduced so that it is relatively inexpensive.Therefore we need technology media that can solve financial problems, and produce financial information to related parties quickly, safely and cheaply. One example of developing information technology today is computer technology and internet. Starting from financial problems and technological advances, the authors make a website-based financial management application to facilitate the parties that perform financial management and supervision.Method of development application program is used Waterfall method, with the following stages: Software Requirement Analysis, Software Design, Program Code Making, Testing, Support, Maintenance.

Primena i razvoj finansijskog upravljanja i kontrole u javnom sektoru na primeru Pokrajinskog sekretarijata za visoko obrazovanje i naučnoistraživačku delatnost

The system of financial management and control implies a set of controls, which do not only refer to the area of funding, but also to all operational and strategic units, aimed at achieving the defined goals of public sector entities. Successful implementation of the system of financial management and control will enable the compliance of operations of the public funds beneficiaries with positive legal regulations. For the purpose of effective and efficient achievement of objectives of work and activities, the paper analyses the application and development of the system of financial management and control in the Provincial Secretariat for Higher Education and Scientific Research. The purpose of this study is to consider the efficiency and effectiveness of the established system of financial management and control, indicating the possibility for improvement of the said system. The study results show that efficient and relevant application of financial management and control is needed in this Provincial administration authority, for the purpose of improving the achievement of objectives of its work and activities, as well as control of legal and specific purpose expenditure of public funds, intended for higher education and scientific research in AP Vojvodina.

Peranan Sistem Keuangan Desa terhadap Kinerja Pemerintah Desa (Studi kasus di Desa Kapataran Kecamatan Lembean Timur Kabupaten Minahasa)

The Village Financial System Application is a village financial management application system developed by the financial and development audit board or BPKP intended for village financial management. The purpose of this study is to determine the role of the Village Financial System or SISKEUDES on the performance of the village government in the village of Kapataran, the eastern Lembean district, Minahasa Regency. This research uses qualitative research. The data used are primary data in the form of interviews.The informants used were the village head and village secretary.The results showed that: (1) procedures for using SISKEUDES were carried out through 4 stages, namely planning, budgeting, administration, and bookkeeping; (2) ways to integrate low human resources (HR) through assistance and training; (3) the Village Financial System also has a purpose in assessing the performance of the village government. The SISKEUDES has important role to play in the village government which is felt directly by village officials. This is in accordance with the objectives of implementing the SISKEUDES, which is to assist work of village employees.

Nilai Tambah VCO Pada Unit Bisnis Agroindustri “Andana” di Kabupaten Lombok Utara

Community service aims to improve understanding and application of financial management in the "Andana" VCO agroindustry business unit, and measuring the performance of its financing. Community service is carried out using the literasi, tutorial and assistance method. Tutorial participants' understanding of financial management is measured from the results of the pre test and post test, while the application of financial management is assessed by financial inclusion, and financing performance is measured using a value added analysis tool. The results of community service activities show that financial management understanding has increased from 77,69 to 81,72 (from good to superior). The application of financial management leads to the application of financial inclusion, while the achievement of value added was IDR 83,200 / liter in June 2019 and IDR 95,681 / liter in July 2019

Using AI and Behavioral Finance to Cope with Limited Attention and Reduce Overdraft Fees

In a field experiment using Mint, a personal financial management application operating in the United States and Canada, we investigate mechanisms to reduce overdraft fees. A sample of users identified via an AI algorithm developed by Mint as having a propensity for overdraft were sent alert notices to test the efficacy of the different framings in reducing the number of overdraft fees. We employ parametric identifications, as well as time-to-event semi-parametric analysis to learn that sending a reminder proved effective in and of itself, and the impact was significantly enhanced by simplifying the message. A negative framing of the simplified version elicited greater engagement and had stronger impact than a positive framing. Significant effects were obtained predominantly among the population with medium to high annual incomes. We relate our findings to the literature on limited attention and the ostrich phenomenon. Our work also contributes to the literatures on fintech, artificial intelligence, and human interaction.

Household Financial Management of Micro, Small, Medium Enterprises [Manajemen Keuangan Rumah Tangga Usaha Mikro Kecil Menengah

Financial management is not only needed in large businesses but starts from households, especially in MSME households. This study aims to determine self-awareness to conduct financial management in the household and the application of financial management in the families of MSME families in Taman Sari Village which is a tourist village, the community is a small trader/entrepreneur. This research is a qualitative descriptive study using in-depth interview techniques and focuses group discussions on 35 respondents from married women of various backgrounds and informal sector jobs, primary data to complement and strengthen the analysis of perceptions, opinions of home managers stairs. This study resulted in the majority of the community having the motivation and awareness to get a better economic life but not followed by planning and implementation in conducting good financial management in the household, around 22.9% of respondents who had made plans for future financial goals and has recorded all income, made financial decisions without thinking so much that many have loans, about 25.7% of respondents discuss financial problems with their husbands. The contribution of this research is an input for policymakers and further research to conduct more in-depth research related to financial management in MSME households.

Application of Financial Management, Online Marketing, and the Diffusion of Medan Production Technology for Typical Crafts

Application of Financial Management, Online Marketing, and the Diffusion of Medan Production Technology for Typical Crafts

AKUNTANSI DAN PENGELOLAAN DANA DESA (STUDI KASUS DESA SUNGAI GELAM KECAMATAN SUNGAI GELAM KABUPATEN MUARO JAMBI

This research aims to provide insight to the village authorities about the problems that plagued the village related to accounting and financial management of the village Fund. Research conducted in the village of Sungai Gelam Sub River Gelam Muaro Jambi Regency. Types of data used in this research is the primary data and secondary data. The method of data collection is carried out triangulation (combined), namely in the form of observations (observation), interview (interview), the library (library reaserch), and documentation (documentation). This research is descriptive research using qualitative approach with an analysis of inductive or qualitative in nature. This research seeks mendiskripsikan a clear picture of the phenomena that occur in the application of accounting and financial management of the village. The results showed all transactions that originate from the village Fund Allocation has been recorded using a recording system of accountancy assisted by computer using the Microsoft Excel program. Mechanism of liquefaction of sources of income of the village, including the allocation of Funds that were in accordance with the rules of Regent Muaro Jambi Number Number 17 in 2015 about an Ordinance Division and assignment details the village Fund. The stages of preparation of the financial management of the allocation of the funds of the village starts from planning, deployment, and accountability and reporting have been referring to the Regulations the Regents Muaro Jambi 2015 15 years of Regulatory Guidelines for financial management of the village. To overcome the obstacles faced in the implementation of accounting and financial management of the allocation of funds in the village of Sungai Gelam village development activities against mainly sourced from the village Fund Allocation minimal Socializing, parties should the Government further promotes the village to the community about the latest programs and provide a grace period to understand about the new programs. The role of the community is necessary for the two sides to the good Government of the village as well as the society for mutual cooperation, provide motivation, and knowledge toward the critical role community as trustees so that it can create positive feedback. Coaching through guidance-guidance techniques specifically and routinely socialization can be done to improve the skills of Human Resources in understanding the accounting and record-keeping system for financial management of the allocation of Funds.

Solving the large-scale knapsack feasibility problem using a distributed computation approach to integer programming

The knapsack feasibility problems have been intensively studied both because of their immediate applications in industry and financial management, but more pronounced for theoretical reasons, as knapsack problems frequently occur by relaxation of various integer programming problems. In this work, the large-scale knapsack feasibility problem is divided into two subproblems. The first subproblem is transforming of the knapsack feasibility problem into a polytope judgement problem which is based on lattice basis reduction. In the next subproblem, a distributed implementation of Dang and Ye’s fixed-point iterative algorithm is introduced to solve the polytope judgement problem generated in the former subproblem. Compared with the branch and bound method, numerical results show that this distributed fixed-point method is effective.

MANAJEMEN RESIKO PEMBIAYAAN DI BAITUL MAAL WA TAMWIL DAN BANK PEMBIAYAAN RAKYAT SYARIAH: SEBUAH STUDI PERBANDINGAN

This paper analyzes the impact of regulation and supervision system on the application of financial risk management in BMT Beringharjo (hereafter BMTB) and BPRS Madina (hereafter BPRSM). As understood, BMTs are loosely regulated and supervised by the Department of Cooperation, while BPRs are highly regulated and supervised by Bank Indonesia. Using a qualitative method, this paper finds that the financing organization in BMT needs improvement as the director and the manager are the same person. The financing procedure works well despite the lack of online system to coordinate branch offices. The paper also finds that BPRSM complies the financing procedure made by BI. The financing organization in BPRSM also works well, from the top commisariate to the employees level.

The Risk of Optimization in Marketing Campaigns

In marketing one of the most common important tasks is to assign campaigns to sets of customers. These sets of customers, the target groups, consist of persons with similar properties, for example a high buying affinity for a certain product. Database marketers would not only assign a campaign by general economic or promotional consideration, but they take into account learning from databases by algorithms. The basic assumptions are already determined clusters to which campaigns, representing the products, should be assigned. The assignment can be done in the most optimal way by formal optimization, which is usually stochastic due to unknown campaign success in the future. The authors model the financial risk of the campaign success for enterprise practice. Their proposal is to use triangular distributions, known from financial and supply chain management applications. In an example, they demonstrate the benefits of the proposed procedure for the marketing task.

DUKUNGAN MANAJEMEN PUNCAK SEBAGAI PEMODERASI PENGARUH KAPASITAS SUMBER DAYA MANUSIA DAN TEKNOLOGI INFORMASI PADA IMPLEMENTASI SIPKD DI PEMERINTAH KOTA DENPASAR

Information technology has become a major part of an organization. To realize good governance, one of which can be done by continuing to make improvements in the area of ??financial management and implement applications Fiscal Management Information System (SIPKD). The success of this application is not separated from the quality of human resources, information technology and management support. This research was conducted using a survey method with questionnaire technique. The population in this research were 166 respondents, consisting of employees of the finance department and agency heads in Denpasar government as much as 70 respondents with a purposive sampling techniques and models of multiple regression analysis and regression analysis moderation. The result is the capacity of human resources and information technology has positive effect on the implementation of financial management information system. Top management support strengthening the influence of human resource capacity and the implementation of information technology in government SIPKD Denpasar.

Accurate Evaluation of Expected Shortfall for Linear Portfolios with Elliptically Distributed Risk Factors

We provide an accurate closed-form expression for the expected shortfall of linear portfolios with elliptically distributed risk factors. Our results aim to correct inaccuracies that originate in Kamdem (2005) and are present also in at least thirty other papers referencing it, including the recent survey by Nadarajah et al. (2014) on estimation methods for expected shortfall. In particular, we show that the correction we provide in the popular multivariate Student t setting eliminates understatement of expected shortfall by a factor varying from at least four to more than 100 across different tail quantiles and degrees of freedom. As such, the resulting economic impact in financial risk management applications could be significant. We further correct such errors encountered also in closely related results in Kamdem (2007 and 2009) for mixtures of elliptical distributions. More generally, our findings point to the extra scrutiny required when deploying new methods for expected shortfall estimation in practice.

Accurate Evaluation of Expected Shortfall for Linear Portfolios with Elliptically Distributed Risk Factors

We provide an accurate closed-form expression for the expected shortfall of linear portfolios with elliptically distributed risk factors. Our results aim to correct inaccuracies that originate in Kamdem (2005) and are present also in at least thirty other papers referencing it, including the recent survey by Nadarajah, Zhang, and Chan (2014) on estimation methods for expected shortfall. In particular, we show that the correction we provide in the popular multivariate Student t setting eliminates understatement of expected shortfall by a factor varying from at least 4 to more than 100 across different tail quantiles and degrees of freedom. As such, the resulting economic impact in financial risk management applications could be significant. We further correct such errors encountered also in closely related results in Kamdem (2007, 2009) for mixtures of elliptical distributions. More generally, our findings point to the extra scrutiny required when deploying new methods f or expected shortfall estimation in practice.

A model-free characterization of recurrences in stationary time series

Study of recurrences in earthquakes, climate, financial time-series, etc. is crucial to better forecast disasters and limit their consequences. Most of the previous phenomenological studies of recurrences have involved only a long-ranged autocorrelation function, and ignored the multi-scaling properties induced by potential higher order dependencies. We argue that copulas is a natural model-free framework to study non-linear dependencies in time series and related concepts like recurrences. Consequently, we arrive at the facts that (i) non-linear dependences do impact both the statistics and dynamics of recurrence times, and (ii) the scaling arguments for the unconditional distribution may not be applicable. Hence, fitting and/or simulating the intertemporal distribution of recurrence intervals is very much system specific, and cannot actually benefit from universal features, in contrast to the previous claims. This has important implications in epilepsy prognosis and financial risk management applications.